Blake G. Modersitzki Sells 92,930 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAVGet Free Report) Director Blake G. Modersitzki sold 92,930 shares of the business’s 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 transaction, the director now directly owns 207,979 shares in the company, valued at approximately $3,217,435.13. The trade was a 30.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Weave Communications Trading Down 0.6 %

NYSE:WEAV opened at $15.46 on Friday. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $15.93. The company’s 50-day simple moving average is $13.77 and its 200 day simple moving average is $11.44. The firm 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 current ratio of 1.59 and a quick ratio of 1.59.

Institutional Trading of Weave Communications

Hedge funds have recently made changes to their positions in the stock. AXA S.A. purchased a new position in Weave Communications during the second quarter valued at $11,590,000. Wasatch Advisors LP increased its holdings in shares of Weave Communications by 40.9% during the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock valued at $48,139,000 after acquiring an additional 1,091,028 shares in the last quarter. Pathway Capital Management LP bought a new position in shares of Weave Communications during the third quarter valued at $7,308,000. 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 worth $11,180,000 after purchasing an additional 239,202 shares during the last quarter. Finally, State Street Corp boosted its stake in Weave Communications by 19.5% in the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock worth $12,169,000 after purchasing an additional 155,054 shares in the last quarter. 86.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WEAV shares. The Goldman Sachs Group lifted their target price on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Loop Capital lifted their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler increased their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $16.50.

View Our Latest Stock Analysis on Weave Communications

Weave Communications Company Profile

(Get Free Report)

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.

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