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

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) CEO Brett T. White sold 53,111 shares of the company's 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 sale, the chief executive officer now directly owns 2,004,136 shares in the company, valued at approximately $17,215,528.24. The trade was a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Weave Communications Price Performance

Shares of WEAV stock traded down $0.20 during mid-day trading on Friday, hitting $8.11. 1,043,071 shares of the stock were exchanged, compared to its average volume of 779,775. The firm has a fifty day moving average of $9.77 and a 200 day moving average of $12.64. 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. The company has a market cap of $609.56 million, a PE ratio of -19.78 and a beta of 1.86.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). The firm 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%. Research analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on WEAV. Raymond James Financial lowered their price target on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. Stifel Nicolaus lowered their target price on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Piper Sandler increased their target price on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One 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, Weave Communications has a consensus rating of "Buy" and an average target price of $16.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WEAV. Summit Securities Group LLC purchased a new position in Weave Communications in the 1st quarter valued at about $29,000. Aquatic Capital Management LLC purchased a new position in Weave Communications in the 4th quarter valued at about $34,000. a16z Perennial Management L.P. purchased a new position in Weave Communications in the 1st quarter valued at about $36,000. Amundi lifted its stake in Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company's stock valued at $59,000 after buying an additional 1,130 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Weave Communications by 28.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock valued at $66,000 after buying an additional 928 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

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.