Insider Selling: Weave Communications, Inc. (NYSE:WEAV) CEO Sells 54,778 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) CEO Brett T. White sold 54,778 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $15.86, for a total value of $868,779.08. Following the transaction, the chief executive officer now directly owns 1,928,364 shares in the company, valued at $30,583,853.04. This trade represents a 2.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Weave Communications Price Performance

Shares of NYSE WEAV traded up $0.53 during trading hours on Tuesday, hitting $16.34. 598,409 shares of the stock were exchanged, compared to its average volume of 701,465. The company’s fifty day simple moving average is $15.27 and its two-hundred day simple moving average is $12.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $16.56. The company has a market cap of $1.19 billion, a PE ratio of -40.84 and a beta of 1.92.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) earnings per share for the quarter. Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. The business had revenue of $52.39 million for the quarter, compared to the consensus estimate of $51.47 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. On average, sell-side analysts predict that Weave Communications, Inc. will post -0.38 EPS for the current year.

Wall Street Analyst Weigh In

WEAV has been the subject of several research analyst reports. Piper Sandler lifted their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group increased 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. Finally, Loop Capital lifted their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $16.50.

Institutional Investors Weigh In On Weave Communications

A number of hedge funds have recently made changes to their positions in WEAV. AQR Capital Management LLC grew its holdings in shares of Weave Communications by 3.8% during the second quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after purchasing an additional 2,516 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Weave Communications during the 2nd quarter worth approximately $134,000. The Manufacturers Life Insurance Company increased its position in Weave Communications by 26.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock valued at $144,000 after acquiring an additional 3,315 shares during the period. Algert Global LLC raised its stake in shares of Weave Communications by 2.6% during the second quarter. Algert Global LLC now owns 181,768 shares of the company’s stock valued at $1,640,000 after acquiring an additional 4,659 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Weave Communications by 5.4% during the second quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after purchasing an additional 896 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

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.