Weave Communications (NYSE:WEAV) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Weave Communications' stock has received a sell (E+) rating from Weiss Ratings, signaling concerns about its performance.
• The price targets set by Stifel Nicolaus and Raymond James Financial have been lowered to $13.00 and $15.00, respectively, with a consensus rating of "Moderate Buy" and a target price of $15.10.
• Company insiders have recently sold a significant number of shares, with CFO Jason Christiansen selling 3,897 shares and COO Marcus Bertilson selling 13,836 shares, indicating potential concerns about the company's future.

Weave Communications (NYSE:WEAV - Get Free Report)'s stock had its "sell (e+)" rating reiterated by stock analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

WEAV has been the subject of a number of other reports. Stifel Nicolaus reduced their price target 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. Raymond James Financial reduced their price target on shares of Weave Communications from $17.00 to $15.00 and set a "strong-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 assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.10.

Weave Communications Stock Performance

Weave Communications stock traded up $0.02 during midday trading on Tuesday, reaching $6.72. 271,001 shares of the stock traded hands, compared to its average volume of 970,311. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $7.45 and a two-hundred day moving average price of $8.59. The firm has a market cap of $517.30 million, a price-to-earnings ratio of -16.81 and a beta of 1.70. Weave Communications has a fifty-two week low of $6.35 and a fifty-two week high of $17.63.

Insiders Place Their Bets

In other news, CFO Jason Paul Christiansen sold 3,897 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $7.50, for a total transaction of $29,227.50. Following the sale, the chief financial officer owned 313,484 shares in the company, valued at $2,351,130. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Marcus Bertilson sold 13,836 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $7.73, for a total transaction of $106,952.28. Following the sale, the chief operating officer owned 338,592 shares in the company, valued at $2,617,316.16. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,179 shares of company stock worth $825,403. Company insiders own 18.40% of the company's stock.

Institutional Investors Weigh In On Weave Communications

A number of large investors have recently made changes to their positions in the company. Squarepoint Ops LLC raised its holdings in shares of Weave Communications by 17.0% during the second quarter. Squarepoint Ops LLC now owns 286,048 shares of the company's stock valued at $2,380,000 after acquiring an additional 41,576 shares during the period. Thrivent Financial for Lutherans acquired a new position in Weave Communications in the 2nd quarter valued at approximately $3,649,000. Caxton Associates LLP acquired a new position in Weave Communications in the 2nd quarter valued at approximately $363,000. Tower Research Capital LLC TRC increased its stake in Weave Communications by 119.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,683 shares of the company's stock valued at $72,000 after buying an additional 4,731 shares during the period. Finally, Man Group plc increased its stake in Weave Communications by 63.0% in the 2nd quarter. Man Group plc now owns 30,337 shares of the company's stock valued at $252,000 after buying an additional 11,731 shares during the period. Institutional investors and hedge funds 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.

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