Weave Communications, Inc. (NYSE:WEAV) CRO Joseph David Mcneil Sells 51,638 Shares

Weave Communications, Inc. (NYSE:WEAV) CRO Joseph David Mcneil sold 51,638 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $11.16, for a total transaction of $576,280.08. Following the sale, the executive now directly owns 298,362 shares in the company, valued at approximately $3,329,719.92. The trade was a 14.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Weave Communications Stock Performance

Shares of NYSE:WEAV traded up $0.02 during trading on Thursday, hitting $11.63. The company’s stock had a trading volume of 1,170,013 shares, compared to its average volume of 651,901. The company has a 50-day moving average of $14.76 and a 200-day moving average of $13.99. Weave Communications, Inc. has a 12 month low of $8.10 and a 12 month high of $17.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a market cap of $845.96 million, a price-to-earnings ratio of -29.81 and a beta of 1.96.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. The business had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. On average, sell-side analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEAV. Wasatch Advisors LP raised its stake in Weave Communications by 38.4% during the 4th 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 period. Arrowstreet Capital Limited Partnership raised its stake in Weave Communications by 202.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock worth $26,280,000 after acquiring an additional 1,105,728 shares during the period. Raymond James Financial Inc. bought a new stake in Weave Communications during the 4th quarter worth approximately $14,984,000. Voya Investment Management LLC raised its stake in Weave Communications by 509.2% during the 4th quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company’s stock worth $17,500,000 after acquiring an additional 918,804 shares during the period. Finally, Vanguard Group Inc. raised its stake in Weave Communications by 23.5% during the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock worth $72,220,000 after acquiring an additional 863,547 shares during the period. Institutional investors own 86.83% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated a “strong-buy” rating and issued a $20.00 price objective (up previously from $17.00) on shares of Weave Communications in a research note on Friday, February 21st.

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.