Weave Communications, Inc. (NYSE:WEAV) Director Sells $693,495.32 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 51,332 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.51, for a total value of $693,495.32. Following the transaction, the director now directly owns 306,852 shares of the company’s stock, valued at approximately $4,145,570.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Weave Communications Price Performance

NYSE WEAV traded up $0.07 during mid-day trading on Friday, hitting $13.50. The stock had a trading volume of 363,561 shares, compared to its average volume of 426,317. The firm’s 50 day moving average is $11.64 and its 200 day moving average is $10.39. Weave Communications, Inc. has a twelve month low of $6.67 and a twelve month high of $13.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $960.16 million, a price-to-earnings ratio of -31.33 and a beta of 2.10.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of Weave Communications by 66.8% in the 3rd quarter. Raymond James & Associates now owns 233,534 shares of the company’s stock worth $2,989,000 after acquiring an additional 93,519 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Weave Communications in the 3rd quarter worth $45,000. SG Americas Securities LLC acquired a new stake in shares of Weave Communications in the 3rd quarter worth $193,000. Point72 Asset Management L.P. increased its stake in shares of Weave Communications by 5.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after acquiring an additional 896 shares during the last quarter. Finally, Algert Global LLC increased its stake in shares of Weave Communications by 2.6% in the 2nd quarter. Algert Global LLC now owns 181,768 shares of the company’s stock worth $1,640,000 after acquiring an additional 4,659 shares during the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Piper Sandler upped their target price on Weave Communications from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st.

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.