Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki Sells 9,050 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 9,050 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.59, for a total value of $141,089.50. Following the completion of the sale, the director now directly owns 207,400 shares in the company, valued at $3,233,366. This trade represents a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Weave Communications Stock Performance

Shares of WEAV opened at $15.48 on Thursday. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $16.33. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -38.70 and a beta of 2.00. The company’s 50 day simple moving average is $13.88 and its 200 day simple moving average is $11.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James & Associates grew its position in Weave Communications by 102.2% during the second quarter. Raymond James & Associates now owns 140,015 shares of the company’s stock valued at $1,263,000 after acquiring an additional 70,771 shares during the period. Bank of New York Mellon Corp increased its position in shares of Weave Communications by 31.4% in the second quarter. Bank of New York Mellon Corp now owns 112,804 shares of the company’s stock worth $1,017,000 after acquiring an additional 26,953 shares in the last quarter. Bailard Inc. purchased a new position in shares of Weave Communications in the 2nd quarter valued at $851,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Weave Communications during the 2nd quarter valued at $145,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Weave Communications by 48.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after purchasing an additional 3,228 shares during the period. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Weave Communications Company Profile

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.