Weave Communications, Inc. (NYSE:WEAV) Insider Sells $64,184.48 in Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) insider Erin Goodsell sold 7,472 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 584,657 shares of the company's stock, valued at approximately $5,022,203.63. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Weave Communications Stock Performance

Weave Communications stock traded down $0.20 during midday trading on Friday, reaching $8.11. 1,043,071 shares of the company's stock were exchanged, compared to its average volume of 779,775. The stock's 50-day simple moving average is $9.77 and its 200 day simple moving average is $12.64. The firm has a market cap of $609.56 million, a price-to-earnings ratio of -19.78 and a beta of 1.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.60 and a current ratio of 1.60. Weave Communications, Inc. has a 52 week low of $8.06 and a 52 week high of $17.63.

Weave Communications (NYSE:WEAV - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.12). The business had revenue of $55.81 million for the quarter, compared to the consensus estimate 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 expect that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Weave Communications

Hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC acquired a new stake in Weave Communications during the fourth quarter worth approximately $34,000. Summit Securities Group LLC bought a new position in shares of Weave Communications during the first quarter worth approximately $29,000. a16z Perennial Management L.P. acquired a new stake in Weave Communications during the 1st quarter worth approximately $36,000. Summit Investment Advisors Inc. boosted 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 purchasing an additional 928 shares during the period. Finally, Amundi bought a new stake in Weave Communications in the 4th quarter valued at $66,000. Institutional investors and hedge funds own 86.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WEAV. Stifel Nicolaus dropped their price objective on Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Raymond James Financial decreased their target price on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. Finally, Piper Sandler upped their price target on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One investment 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 company's stock. According to MarketBeat.com, Weave Communications presently has a consensus rating of "Buy" and a consensus target price of $16.10.

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.