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

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) COO Marcus Bertilson sold 11,409 shares of Weave Communications stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $97,318.77. Following the completion of the transaction, the chief operating officer now owns 352,093 shares of the company's stock, valued at approximately $3,003,353.29. The trade was a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Weave Communications Stock Performance

NYSE WEAV traded down $0.20 on Friday, hitting $8.11. The stock had a trading volume of 1,043,071 shares, compared to its average volume of 779,775. The company's 50-day moving average is $9.77 and its two-hundred day moving average is $12.64. Weave Communications, Inc. has a one year low of $8.06 and a one year high of $17.63. The stock 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 quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Raymond James Financial dropped their price objective on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th. Piper Sandler upped their target price on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Stifel Nicolaus cut their price target on Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Weave Communications currently has a consensus rating of "Buy" and an average target price of $16.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WEAV. Voya Investment Management LLC raised its position in shares of Weave Communications by 26.2% during the 1st quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company's stock worth $15,382,000 after buying an additional 287,785 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Weave Communications by 9.1% during the first quarter. Rhumbline Advisers now owns 55,109 shares of the company's stock valued at $611,000 after acquiring an additional 4,594 shares during the period. Voleon Capital Management LP raised its holdings in Weave Communications by 54.2% during the first quarter. Voleon Capital Management LP now owns 31,919 shares of the company's stock worth $354,000 after purchasing an additional 11,215 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Weave Communications during the first quarter worth approximately $381,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Weave Communications by 6.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,918 shares of the company's stock worth $265,000 after purchasing an additional 1,457 shares during the period. Institutional investors own 86.83% of the company's stock.

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.