Insider Selling: Weave Communications, Inc. (NYSE:WEAV) Insider Sells 7,472 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) insider Erin Goodsell sold 7,472 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.59, for a total transaction of $64,184.48. Following the completion of the sale, the insider now directly owns 584,657 shares of the company's stock, valued at $5,022,203.63. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Weave Communications Stock Performance

WEAV stock traded down $0.12 during mid-day trading on Wednesday, hitting $8.33. The company had a trading volume of 869,428 shares, compared to its average volume of 773,240. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $625.87 million, a PE ratio of -20.30 and a beta of 1.86. Weave Communications, Inc. has a 12 month low of $8.25 and a 12 month high of $17.63. The stock's fifty day moving average price is $9.87 and its two-hundred day moving average price is $12.76.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its quarterly 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 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%. On average, analysts forecast that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WEAV shares. Piper Sandler boosted their target price on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Raymond James Financial decreased their price target on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus cut their price objective 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. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $16.10.

Hedge Funds Weigh In On Weave Communications

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Weave Communications by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company's stock valued at $174,000 after buying an additional 597 shares during the period. MetLife Investment Management LLC increased its holdings in Weave Communications by 2.6% in the 4th quarter. MetLife Investment Management LLC now owns 24,387 shares of the company's stock worth $388,000 after acquiring an additional 620 shares during the last quarter. US Bancorp DE raised its stake in Weave Communications by 8.4% in the 4th quarter. US Bancorp DE now owns 9,053 shares of the company's stock valued at $144,000 after acquiring an additional 703 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock valued at $66,000 after purchasing an additional 928 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Weave Communications by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,461 shares of the company's stock valued at $358,000 after purchasing an additional 988 shares during the last quarter. 86.83% of the stock is owned by 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.

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