Weave Communications, Inc. (NYSE:WEAV) Director Sells $1,397,758.36 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 84,764 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $16.49, for a total value of $1,397,758.36. Following the sale, the director now directly owns 201,975 shares of the company’s stock, valued at approximately $3,330,567.75. This represents a 29.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Weave Communications Stock Performance

Shares of WEAV opened at $16.12 on Monday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 52-week low of $8.10 and a 52-week high of $16.56. The company has a 50-day simple moving average of $14.31 and a 200-day simple moving average of $11.95. The company has a market capitalization of $1.17 billion, a PE ratio of -40.30 and a beta of 2.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in shares of Weave Communications by 102.2% during the 2nd quarter. Raymond James & Associates now owns 140,015 shares of the company’s stock worth $1,263,000 after acquiring an additional 70,771 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Weave Communications by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 112,804 shares of the company’s stock valued at $1,017,000 after purchasing an additional 26,953 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Weave Communications during the second quarter worth $145,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Weave Communications by 48.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after purchasing an additional 3,228 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Weave Communications by 14.5% in the second quarter. Principal Financial Group Inc. now owns 37,558 shares of the company’s stock valued at $339,000 after purchasing an additional 4,747 shares during the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WEAV has been the subject of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Piper Sandler raised 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 boosted their target price on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.