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 shares were sold at an average price of $8.53, for a total transaction of $97,318.77. Following the sale, the chief operating officer now directly owns 352,093 shares of the company's stock, valued at $3,003,353.29. This represents a 3.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Weave Communications Stock Performance

Shares of NYSE:WEAV traded down $0.12 during trading on Wednesday, hitting $8.33. The stock had a trading volume of 869,428 shares, compared to its average volume of 773,240. 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 12-month low of $8.25 and a 12-month high of $17.63. The stock has a market capitalization of $625.87 million, a price-to-earnings ratio of -20.30 and a beta of 1.86. The stock has a 50-day simple moving average of $9.87 and a two-hundred day simple moving average of $12.76.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stifel Nicolaus decreased their target price on Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Piper Sandler lifted their price objective on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Raymond James Financial lowered their price objective 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. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Weave Communications has a consensus rating of "Buy" and a consensus price target of $16.10.

Institutional Investors Weigh In On Weave Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wasatch Advisors LP lifted its stake in Weave Communications by 38.4% in the 4th quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock worth $82,874,000 after purchasing an additional 1,444,828 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Weave Communications by 202.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company's stock valued at $26,280,000 after purchasing an additional 1,105,728 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Weave Communications during the fourth quarter worth approximately $14,984,000. Voya Investment Management LLC boosted its stake in Weave Communications by 509.2% during the fourth quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company's stock worth $17,500,000 after buying an additional 918,804 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Weave Communications by 23.5% during the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company's stock worth $72,220,000 after buying an additional 863,547 shares during the last quarter. Hedge funds and other 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.

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