Insider Selling: Weave Communications (NYSE:WEAV) COO Sells 13,836 Shares of Stock

Key Points

• Marcus Bertilson, COO of Weave Communications, sold 13,836 shares of the company's stock for about $106,952, decreasing his ownership by 3.93%.
• Weave Communications' stock remained stable at $7.70, with a market cap of $593.21 million and an average rating of "Buy" from analysts.
• Recent institutional investments include MIRAE ASSET GLOBAL ETFS HOLDINGS increasing its position by 4.6%, now holding 22,461 shares valued at $358,000.

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) COO Marcus Bertilson sold 13,836 shares of Weave Communications stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.73, for a total value of $106,952.28. Following the completion of the sale, the chief operating officer owned 338,592 shares in the company, valued at approximately $2,617,316.16. The trade was a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Weave Communications Price Performance

WEAV stock traded down $0.09 during trading on Friday, hitting $7.61. The stock had a trading volume of 3,451,969 shares, compared to its average volume of 885,329. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.22 and a quick ratio of 1.22. The company's 50-day moving average price is $7.66 and its two-hundred day moving average price is $9.09. Weave Communications, Inc. has a twelve month low of $6.75 and a twelve month high of $17.63. The stock has a market capitalization of $585.89 million, a P/E ratio of -19.01 and a beta of 1.75.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in Weave Communications in the first quarter valued at about $29,000. a16z Perennial Management L.P. acquired a new position in shares of Weave Communications in the 1st quarter valued at $36,000. Amundi boosted its holdings in shares of Weave Communications by 27.1% in the 1st quarter. Amundi now owns 5,301 shares of the company's stock valued at $59,000 after purchasing an additional 1,130 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Weave Communications by 43.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,955 shares of the company's stock valued at $50,000 after acquiring an additional 1,812 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Weave Communications by 119.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company's stock valued at $72,000 after acquiring an additional 4,731 shares in the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WEAV shares. Raymond James Financial decreased their target price on shares of Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating on the stock in a research note on Friday, August 1st. Stifel Nicolaus dropped their target price on shares of Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $15.10.

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.