Weave Communications, Inc. (NYSE:WEAV) Director Sells $1,437,627.10 in Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 92,930 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $15.47, for a total transaction of $1,437,627.10. Following the completion of the sale, the director now directly owns 207,979 shares in the company, valued at approximately $3,217,435.13. This represents a 30.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Weave Communications Stock Down 0.6 %

NYSE:WEAV opened at $15.46 on Monday. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $15.93. The stock has a market capitalization of $1.13 billion, a P/E ratio of -38.65 and a beta of 2.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The company’s 50-day simple moving average is $13.77 and its 200-day simple moving average is $11.46.

Hedge Funds Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC raised its position in shares of Weave Communications by 37.7% in the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after purchasing an additional 239,202 shares during the last quarter. Geode Capital Management LLC raised its position in Weave Communications by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock worth $11,308,000 after buying an additional 101,580 shares during the last quarter. Barclays PLC raised its position in Weave Communications by 31.9% during the 3rd quarter. Barclays PLC now owns 223,503 shares of the company’s stock worth $2,861,000 after buying an additional 54,019 shares during the last quarter. XTX Topco Ltd raised its position in Weave Communications by 429.2% during the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock worth $717,000 after buying an additional 45,430 shares during the last quarter. Finally, Zacks Investment Management raised its position in Weave Communications by 6.4% during the 3rd quarter. Zacks Investment Management now owns 149,990 shares of the company’s stock worth $1,920,000 after buying an additional 9,074 shares during the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Loop Capital upped their price target 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. Piper Sandler upped their price target on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. 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. Based on data from MarketBeat, Weave Communications currently has an average rating of “Buy” and an average 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.