Weave Communications (NYSE:WEAV) Sets New 12-Month Low on Insider Selling

Shares of Weave Communications, Inc. (NYSE:WEAV - Get Free Report) hit a new 52-week low during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $8.24 and last traded at $8.33, with a volume of 869428 shares changing hands. The stock had previously closed at $8.44.

Specifically, insider Erin Goodsell sold 7,472 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $64,184.48. Following the completion of the sale, the insider now owns 584,657 shares in the company, valued at approximately $5,022,203.63. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett T. White sold 53,111 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $456,223.49. Following the completion of the transaction, the chief executive officer now directly owns 2,004,136 shares of the company's stock, valued at approximately $17,215,528.24. This trade represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CRO Joseph David Mcneil sold 14,302 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $121,996.06. Following the completion of the transaction, the executive now directly owns 409,060 shares of the company's stock, valued at $3,489,281.80. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

WEAV has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Raymond James Financial cut their target price on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th. Finally, Piper Sandler raised their target price on Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Weave Communications currently has an average rating of "Buy" and a consensus price target of $16.10.

Weave Communications Stock Down 2.4%

The stock has a market capitalization of $609.56 million, a P/E ratio of -19.78 and a beta of 1.86. The firm's fifty day moving average is $9.77 and its 200-day moving average is $12.63. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.10.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its earnings results 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 firm had revenue of $55.81 million during the quarter, compared to the consensus estimate of $54.72 million. As a group, equities research analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On Weave Communications

Institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in shares of Weave Communications by 38.4% in the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock valued at $82,874,000 after buying an additional 1,444,828 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake 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 worth $26,280,000 after acquiring an additional 1,105,728 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Weave Communications in the fourth quarter worth about $14,984,000. Voya Investment Management LLC raised its stake in shares of Weave Communications by 509.2% in the fourth quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company's stock worth $17,500,000 after acquiring an additional 918,804 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Weave Communications by 23.5% in the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company's stock worth $72,220,000 after acquiring an additional 863,547 shares during the last quarter. Institutional investors own 86.83% of the company's stock.

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.