Insider Selling: Weave Communications (NYSE:WEAV) CEO Sells 53,953 Shares of Stock

Key Points

• Weave Communications CEO Brett White sold 53,953 shares for a total of $417,056.69, reducing his stake by 2.73% while still retaining over 1.92 million shares.
• The stock is currently trading at $7.70 with a 52-week low of $6.75 and a high of $17.63, indicating significant volatility in its price.
• Analysts have adjusted their price targets for Weave Communications, with Raymond James lowering its target from $17.00 to $15.00 and Stifel Nicolaus from $16.00 to $13.00, while maintaining a consensus rating of "Buy."

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) CEO Brett T. White sold 53,953 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $7.73, for a total value of $417,056.69. Following the completion of the transaction, the chief executive officer directly owned 1,922,071 shares in the company, valued at $14,857,608.83. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Weave Communications Stock Down 1.1%

Shares of WEAV stock traded down $0.09 on Friday, reaching $7.61. 3,451,969 shares of the company's stock traded hands, compared to its average volume of 799,778. The business's 50 day moving average price is $7.66 and its two-hundred day moving average price is $9.13. Weave Communications, Inc. has a 12-month low of $6.75 and a 12-month high of $17.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $585.89 million, a P/E ratio of -19.01 and a beta of 1.75.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently modified their holdings of WEAV. Northern Trust Corp grew its position in Weave Communications by 0.8% during the 4th quarter. Northern Trust Corp now owns 364,003 shares of the company's stock valued at $5,795,000 after purchasing an additional 2,744 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Weave Communications by 60.1% in the 4th quarter. Bank of America Corp DE now owns 313,080 shares of the company's stock worth $4,984,000 after purchasing an additional 117,525 shares in the last quarter. Deutsche Bank AG increased its holdings in Weave Communications by 711.6% in the 4th quarter. Deutsche Bank AG now owns 206,240 shares of the company's stock worth $3,283,000 after buying an additional 180,827 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Weave Communications by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,461 shares of the company's stock valued at $358,000 after acquiring an additional 988 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Weave Communications by 176.4% during the 4th quarter. Millennium Management LLC now owns 985,018 shares of the company's stock valued at $15,681,000 after acquiring an additional 628,705 shares during the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WEAV. Raymond James Financial cut their price objective on Weave Communications from $17.00 to $15.00 and set a "strong-buy" rating for the company in a research report on Friday, August 1st. Stifel Nicolaus lowered their target price on shares of Weave Communications from $16.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $15.10.

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.