Marcus Bertilson Sells 11,409 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) COO Marcus Bertilson sold 11,409 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $97,318.77. Following the sale, the chief operating officer now directly owns 352,093 shares in the company, valued at approximately $3,003,353.29. This represents a 3.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Weave Communications Stock Down 2.4%

WEAV stock opened at $8.11 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $9.77 and a two-hundred day moving average price of $12.65. The company has a market cap of $609.56 million, a price-to-earnings ratio of -19.78 and a beta of 1.86. Weave Communications, Inc. has a twelve month low of $8.06 and a twelve month high of $17.63.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WEAV. Wasatch Advisors LP grew its stake in 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 purchasing an additional 1,444,828 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Weave Communications by 202.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock worth $26,280,000 after acquiring an additional 1,105,728 shares during the period. Raymond James Financial Inc. bought a new position in shares of Weave Communications during the 4th quarter worth approximately $14,984,000. Voya Investment Management LLC boosted its stake in shares of Weave Communications by 509.2% during the 4th quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company’s stock worth $17,500,000 after acquiring an additional 918,804 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Weave Communications by 23.5% during the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock worth $72,220,000 after acquiring an additional 863,547 shares during the period. 86.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WEAV has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on Weave Communications from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Raymond James Financial decreased their price objective on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 29th. Finally, Piper Sandler increased their price objective on Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.10.

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.