Insider Selling: Weave Communications (NYSE:WEAV) CRO Sells 25,000 Shares of Stock

Key Points

• CRO Joseph David McNeil sold 25,000 shares of Weave Communications on March 6 at an average price of $5.53 (total $138,250), trimming his position by 4.71% to 505,721 shares, per an SEC filing.
• Weave shares trade near $5.42 with a $422.5M market cap, show negative profitability (net margin -11.74%, negative ROE), have mixed analyst coverage (consensus "Hold," $10 target), and are ~86.8% institutionally owned.

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) CRO Joseph David Mcneil sold 25,000 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $5.53, for a total value of $138,250.00. Following the sale, the executive owned 505,721 shares in the company, valued at $2,796,637.13. The trade was a 4.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Weave Communications Stock Performance

WEAV traded down $0.15 on Monday, reaching $5.42. The company had a trading volume of 1,570,306 shares, compared to its average volume of 2,092,727. The company's fifty day moving average is $6.34 and its 200 day moving average is $6.71. The stock has a market cap of $422.51 million, a P/E ratio of -15.04 and a beta of 1.73. Weave Communications, Inc. has a fifty-two week low of $4.84 and a fifty-two week high of $12.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.24 and a current ratio of 1.24.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $63.40 million for the quarter, compared to analyst estimates of $63.19 million. Weave Communications had a negative net margin of 11.74% and a negative return on equity of 33.06%. As a group, analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Weave Communications in a report on Monday, December 29th. Stifel Nicolaus lowered their price target on shares of Weave Communications from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Raymond James Financial cut Weave Communications from a "strong-buy" rating to a "moderate buy" rating in a research report on Tuesday, January 6th. Finally, Piper Sandler lowered their price objective on shares of Weave Communications from $12.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Scalar Gauge Management LLC acquired a new position in Weave Communications during the 3rd quarter worth approximately $1,164,000. Lane Generational LLC raised its holdings in shares of Weave Communications by 112.1% during the third quarter. Lane Generational LLC now owns 412,462 shares of the company's stock valued at $2,755,000 after buying an additional 217,957 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Weave Communications during the 2nd quarter worth about $3,649,000. Archon Capital Management LLC bought a new position in Weave Communications during the second quarter valued at about $1,184,000. Finally, Frontier Capital Management Co. LLC acquired a new stake in shares of Weave Communications during the 2nd quarter valued at $16,915,000. Hedge funds and other institutional investors own 86.83% of the company's stock.

About Weave Communications

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform's core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.

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