Blake G. Modersitzki Sells 41,991 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 41,991 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $17.48, for a total transaction of $734,002.68. Following the completion of the transaction, the director now directly owns 183,937 shares of the company’s stock, valued at $3,215,218.76. This trade represents a 18.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Weave Communications Stock Performance

Shares of WEAV stock opened at $16.95 on Friday. The business’s fifty day simple moving average is $16.25 and its 200-day simple moving average is $13.81. The company has a market cap of $1.23 billion, a PE ratio of -42.36 and a beta of 1.91. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a 12-month low of $8.10 and a 12-month high of $17.63.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. 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

Hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC acquired a new position in shares of Weave Communications in the 4th quarter valued at $34,000. nVerses Capital LLC acquired a new position in shares of Weave Communications in the 3rd quarter valued at $45,000. Quarry LP acquired a new position in shares of Weave Communications in the 3rd quarter valued at $45,000. Amundi acquired a new position in shares of Weave Communications in the 4th quarter valued at $66,000. Finally, Summit Investment Advisors Inc. increased its position in shares of Weave Communications by 28.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after acquiring an additional 928 shares during the period. 86.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective 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. Loop Capital boosted their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Piper Sandler upped their price target on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Weave Communications has an average rating of “Buy” and a consensus 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.