Weave Communications, Inc. (NYSE:WEAV) Director Sells $141,089.50 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 9,050 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.59, for a total transaction of $141,089.50. Following the completion of the transaction, the director now owns 207,400 shares in the company, valued at $3,233,366. This represents a 4.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Weave Communications Stock Down 2.8 %

Weave Communications stock traded down $0.44 during midday trading on Wednesday, hitting $15.48. The stock had a trading volume of 865,506 shares, compared to its average volume of 545,912. The business has a fifty day moving average price of $13.88 and a 200 day moving average price of $11.57. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month high of $16.33. The stock has a market cap of $1.13 billion, a P/E ratio of -38.70 and a beta of 2.00. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Institutional Investors Weigh In On Weave Communications

Institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP boosted its holdings in Weave Communications by 40.9% in the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock worth $48,139,000 after purchasing an additional 1,091,028 shares during the period. AXA S.A. bought a new position in shares of Weave Communications in the 2nd quarter worth about $11,590,000. State Street Corp boosted its holdings in shares of Weave Communications by 19.5% in the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock valued at $12,169,000 after buying an additional 155,054 shares during the period. Geode Capital Management LLC grew its position in shares of Weave Communications by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock valued at $11,308,000 after buying an additional 101,580 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in Weave Communications by 37.7% during the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock worth $11,180,000 after acquiring an additional 239,202 shares during the period. 86.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WEAV has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Loop Capital upped their target price on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Weave Communications has an average rating of “Buy” and an average price target of $16.50.

About Weave Communications

Weave Communications, Inc provides a customer experience and payments software platform in the United States and Canada. Its platform enables small and medium-sized healthcare businesses to maximize the value of their patient interactions and minimize the time and effort spent on manual or mundane tasks.