Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki Sells 74,756 Shares

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 74,756 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $17.49, for a total value of $1,307,482.44. Following the completion of the sale, the director now owns 179,153 shares of the company’s stock, valued at approximately $3,133,385.97. This represents a 29.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Weave Communications Stock Performance

NYSE:WEAV opened at $16.95 on Friday. 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, Inc. has a 1-year low of $8.10 and a 1-year high of $17.63. The firm has a 50-day moving average of $16.25 and a two-hundred day moving average of $13.81. The stock has a market cap of $1.23 billion, a P/E ratio of -42.36 and a beta of 1.91.

Weave Communications (NYSE:WEAV) last issued 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 return on equity of 28.01% and a negative net margin of 14.64%. On average, research analysts expect that Weave Communications, Inc. will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

Large investors have recently modified their holdings of the stock. Wasatch Advisors LP lifted its holdings in Weave Communications by 38.4% in the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock worth $82,874,000 after acquiring an additional 1,444,828 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Weave Communications by 23.5% in the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock valued at $72,220,000 after purchasing an additional 863,547 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Weave Communications by 202.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock valued at $26,280,000 after purchasing an additional 1,105,728 shares during the period. Pathway Capital Management LP increased its stake in shares of Weave Communications by 136.3% during the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock valued at $21,482,000 after acquiring an additional 778,413 shares during the period. Finally, AXA S.A. increased its stake in shares of Weave Communications by 0.7% during the fourth quarter. AXA S.A. now owns 1,294,281 shares of the company’s stock valued at $20,605,000 after acquiring an additional 9,365 shares during the period. Institutional investors own 86.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WEAV shares. The Goldman Sachs Group upped their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Piper Sandler upped their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Loop Capital upped their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Weave Communications presently has an average rating of “Buy” and an average target price of $16.50.

Weave Communications Company Profile

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.