Insider Selling: Weave Communications, Inc. (NYSE:WEAV) CEO Sells $552,941.73 in Stock

Weave Communications, Inc. (NYSE:WEAV) CEO Brett T. White sold 54,051 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $10.23, for a total transaction of $552,941.73. Following the transaction, the chief executive officer now owns 2,086,384 shares of the company’s stock, valued at $21,343,708.32. This trade represents a 2.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Weave Communications Stock Up 0.8 %

Weave Communications stock opened at $10.77 on Friday. The stock has a 50-day simple moving average of $10.74 and a 200-day simple moving average of $13.59. The company has a market capitalization of $806.67 million, a P/E ratio of -27.62 and a beta of 1.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $17.63.

Weave Communications (NYSE:WEAV) last posted 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). The firm had revenue of $54.17 million during the quarter, compared to analyst estimates of $53.23 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. Equities research analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in shares of Weave Communications by 38.4% in the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock valued at $82,874,000 after buying an additional 1,444,828 shares during the last quarter. Vanguard Group Inc. increased its position in Weave Communications by 23.5% in the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock valued at $72,220,000 after acquiring an additional 863,547 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 valued at $26,280,000 after acquiring an additional 1,105,728 shares during the last quarter. Pathway Capital Management LP lifted its position in Weave Communications by 136.3% during the 4th quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock worth $21,482,000 after acquiring an additional 778,413 shares during the period. Finally, AXA S.A. increased its holdings in shares of Weave Communications by 0.7% in the fourth quarter. AXA S.A. now owns 1,294,281 shares of the company’s stock valued at $20,605,000 after purchasing an additional 9,365 shares during the period. 86.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WEAV shares. Raymond James dropped their target price on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Tuesday. Stifel Nicolaus decreased their target price on Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler dropped their price target on shares of Weave Communications from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.90.

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.