Weave Communications, Inc. (NYSE:WEAV) CRO Sells $121,996.06 in Stock

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) CRO Joseph David Mcneil sold 14,302 shares of the firm's 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 $121,996.06. Following the completion of the sale, the executive now directly owns 409,060 shares in the company, valued at $3,489,281.80. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Weave Communications Price Performance

NYSE WEAV traded down $0.12 on Wednesday, reaching $8.33. 869,428 shares of the company's stock traded hands, compared to its average volume of 773,240. The stock has a market cap of $625.87 million, a PE ratio of -20.30 and a beta of 1.86. Weave Communications, Inc. has a 12 month low of $8.25 and a 12 month high of $17.63. The stock has a 50-day simple moving average of $9.87 and a 200 day simple moving average of $12.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.60 and a quick ratio of 1.60.

Weave Communications (NYSE:WEAV - Get Free Report) last announced 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 net margin of 14.07% and a negative return on equity of 31.08%. The business had revenue of $55.81 million during the quarter, compared to analysts' expectations of $54.72 million. As a group, research analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WEAV shares. Stifel Nicolaus decreased their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Raymond James Financial dropped 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 report on Tuesday, April 29th. Finally, Piper Sandler increased their target price on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. One 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 stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $16.10.

Institutional Trading of Weave Communications

Several institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its holdings in shares of Weave Communications by 26.2% in the first 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 during the period. Rhumbline Advisers grew its position in Weave Communications by 9.1% during the 1st quarter. Rhumbline Advisers now owns 55,109 shares of the company's stock worth $611,000 after acquiring an additional 4,594 shares during the last quarter. Voleon Capital Management LP increased its stake in Weave Communications by 54.2% in the 1st 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 during the period. Dynamic Technology Lab Private Ltd purchased a new position in Weave Communications in the 1st 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 valued at $265,000 after purchasing an additional 1,457 shares during the last quarter. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

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.

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