Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki Sells 242,820 Shares

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 242,820 shares of Weave Communications stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $14.38, for a total value of $3,491,751.60. Following the completion of the transaction, the director now owns 244,616 shares of the company’s stock, valued at approximately $3,517,578.08. The trade was a 49.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Weave Communications Stock Up 1.0 %

Shares of Weave Communications stock opened at $14.94 on Wednesday. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $15.23. The company has a market capitalization of $1.09 billion, a P/E ratio of -37.35 and a beta of 2.00. The business’s fifty day moving average price is $13.60 and its two-hundred day moving average price is $11.32. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Hedge Funds Weigh In On Weave Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in shares of Weave Communications by 17.8% during the second quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock valued at $5,353,000 after acquiring an additional 89,600 shares during the period. Summit Global Investments acquired a new position in shares of Weave Communications during the 3rd quarter valued at $460,000. Pathway Capital Management LP bought a new stake in shares of Weave Communications in the 3rd quarter worth $7,308,000. Bailard Inc. bought a new stake in shares of Weave Communications in the 2nd quarter worth $851,000. Finally, Principal Financial Group Inc. boosted its stake in Weave Communications by 139.0% during the third quarter. Principal Financial Group Inc. now owns 89,768 shares of the company’s stock valued at $1,149,000 after buying an additional 52,210 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

Wall Street Analyst Weigh In

WEAV has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Loop Capital raised their target price on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research 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. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price 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.