Blake G. Modersitzki Sells 84,764 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 84,764 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $16.49, for a total transaction of $1,397,758.36. Following the completion of the sale, the director now directly owns 201,975 shares in the company, valued at approximately $3,330,567.75. This represents a 29.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Weave Communications Stock Performance

Shares of NYSE:WEAV opened at $16.12 on Friday. The firm has a 50 day moving average of $14.31 and a 200 day moving average of $11.93. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -40.30 and a beta of 2.00. Weave Communications, Inc. has a 52 week low of $8.10 and a 52 week high of $16.56.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WEAV. Loop Capital boosted their target price on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler increased their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their target price on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Weave Communications presently has a consensus rating of “Buy” and a consensus target price of $16.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wasatch Advisors LP boosted its position in Weave Communications by 40.9% during the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company’s stock valued at $48,139,000 after purchasing an additional 1,091,028 shares in the last quarter. AXA S.A. purchased a new position in shares of Weave Communications in the 2nd quarter worth approximately $11,590,000. State Street Corp raised its stake in shares of Weave Communications by 19.5% during the 3rd quarter. State Street Corp now owns 950,683 shares of the company’s stock worth $12,169,000 after acquiring an additional 155,054 shares in the last quarter. Geode Capital Management LLC lifted its position in Weave Communications by 13.0% during the third quarter. Geode Capital Management LLC now owns 883,207 shares of the company’s stock valued at $11,308,000 after acquiring an additional 101,580 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Weave Communications by 37.7% in the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after acquiring an additional 239,202 shares in the last quarter. 86.83% of the stock is owned by 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.