Insider Selling: Weave Communications, Inc. (NYSE:WEAV) CEO Sells $456,223.49 in Stock

Weave Communications, Inc. (NYSE:WEAV) CEO Brett T. White sold 53,111 shares of Weave Communications stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.59, for a total transaction of $456,223.49. Following the completion of the transaction, the chief executive officer now directly owns 2,004,136 shares of the company’s stock, valued at $17,215,528.24. The trade was a 2.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Weave Communications Stock Down 2.4%

WEAV stock opened at $8.11 on Friday. The stock has a market capitalization of $609.56 million, a P/E ratio of -19.78 and a beta of 1.86. The firm has a 50-day simple moving average of $9.77 and a 200-day simple moving average of $12.65. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. Weave Communications, Inc. has a 52 week low of $8.06 and a 52 week high of $17.63.

Weave Communications (NYSE:WEAV) last released its earnings results on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). The company had revenue of $55.81 million for the quarter, compared to analysts’ expectations of $54.72 million. Weave Communications had a negative return on equity of 31.08% and a negative net margin of 14.07%. Equities analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Raymond James Financial cut their price objective on shares of Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 29th. Stifel Nicolaus cut their price objective on shares of Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Piper Sandler lifted their price objective on shares of Weave Communications from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. One investment 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, the stock has a consensus rating of “Buy” and a consensus price target of $16.10.

Institutional Trading of Weave Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Aquatic Capital Management LLC purchased a new stake in shares of Weave Communications during the fourth quarter worth about $34,000. Summit Securities Group LLC acquired a new position in Weave Communications during the first quarter worth about $29,000. a16z Perennial Management L.P. acquired a new position in Weave Communications during the first quarter worth about $36,000. Summit Investment Advisors Inc. boosted its position in Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock worth $66,000 after acquiring an additional 928 shares during the last quarter. Finally, Amundi acquired a new position in Weave Communications during the fourth quarter worth about $66,000. Hedge funds and other institutional investors own 86.83% of the company’s stock.

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.