Insider Selling: Weave Communications, Inc. (NYSE:WEAV) CEO Sells $1,235,469.72 in Stock

Weave Communications, Inc. (NYSE:WEAV) CEO Brett T. White sold 109,722 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the completion of the transaction, the chief executive officer now owns 1,790,435 shares in the company, valued at $20,160,298.10. The trade was a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Weave Communications Trading Up 0.7 %

Shares of WEAV opened at $11.72 on Friday. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $17.63. The company has a 50-day moving average of $14.60 and a 200 day moving average of $13.98. The firm has a market capitalization of $865.81 million, a price-to-earnings ratio of -30.04 and a beta of 1.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The business had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. On average, research analysts expect that Weave Communications, Inc. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated a “strong-buy” rating and issued a $20.00 price target (up from $17.00) on shares of Weave Communications in a research report on Friday, February 21st.

Institutional Trading of Weave Communications

Several large investors have recently bought and sold shares of WEAV. Wasatch Advisors LP grew its position in Weave Communications by 38.4% during the 4th quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock worth $82,874,000 after purchasing an additional 1,444,828 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Weave Communications by 202.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock valued at $26,280,000 after acquiring an additional 1,105,728 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Weave Communications in the 4th quarter valued at $14,984,000. Voya Investment Management LLC boosted its holdings in shares of Weave Communications by 509.2% in the 4th quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company’s stock valued at $17,500,000 after acquiring an additional 918,804 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Weave Communications by 23.5% in the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock valued at $72,220,000 after acquiring an additional 863,547 shares during the last quarter. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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.