Weave Communications, Inc. (NYSE:WEAV - Get Free Report) traded down 5.9% during trading on Friday . The company traded as low as $7.93 and last traded at $7.92. 347,724 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 916,964 shares. The stock had previously closed at $8.41.
Analyst Ratings Changes
WEAV has been the topic of a number of recent research reports. Piper Sandler upped their target price on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Raymond James Financial reduced their target price 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, Stifel Nicolaus lowered their target price 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. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $16.10.
Check Out Our Latest Analysis on WEAV
Weave Communications Stock Down 6.0%
The firm has a market capitalization of $594.30 million, a price-to-earnings ratio of -19.24 and a beta of 1.76. The stock has a 50 day moving average of $9.38 and a 200 day moving average of $11.98. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10.
Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). The firm had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative return on equity of 31.08% and a negative net margin of 14.07%. As a group, analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Brett T. White sold 53,111 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $8.59, for a total value of $456,223.49. Following the completion of the sale, the chief executive officer owned 2,004,136 shares in the company, valued at approximately $17,215,528.24. This represents a 2.58% 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, COO Marcus Bertilson sold 11,409 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total value of $97,318.77. Following the completion of the sale, the chief operating officer owned 352,093 shares of the company's stock, valued at $3,003,353.29. The trade was a 3.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,577 shares of company stock worth $1,499,638. Company insiders own 18.40% of the company's stock.
Institutional Trading of Weave Communications
Institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in Weave Communications during the first quarter valued at approximately $29,000. Aquatic Capital Management LLC acquired a new position in Weave Communications in the 4th quarter valued at $34,000. a16z Perennial Management L.P. bought a new position in Weave Communications in the 1st quarter worth $36,000. Amundi lifted its position in Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company's stock worth $59,000 after acquiring an additional 1,130 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Weave Communications by 28.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock worth $66,000 after acquiring an additional 928 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.
Weave Communications Company Profile
(
Get Free Report)
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.
Further Reading
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