Insider Selling: Weave Communications, Inc. (NYSE:WEAV) CEO Sells 109,722 Shares of Stock

Weave Communications, Inc. (NYSE:WEAV) CEO Brett T. White sold 109,722 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the transaction, the chief executive officer now owns 1,790,435 shares of the company’s stock, valued at $20,160,298.10. This represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Weave Communications Stock Up 0.7 %

Shares of NYSE:WEAV opened at $11.72 on Friday. The firm’s 50 day moving average price is $14.60 and its 200 day moving average price is $13.98. The stock has a market cap of $865.81 million, a price-to-earnings ratio of -30.04 and a beta of 1.96. Weave Communications, Inc. has a fifty-two week low of $8.10 and a fifty-two week high of $17.63. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. The firm had revenue of $54.17 million during the quarter, compared to analysts’ expectations of $53.23 million. As a group, equities research analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Weave Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of WEAV. Wasatch Advisors LP grew its position in Weave Communications by 38.4% in the 4th 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 grew its position in Weave Communications by 202.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock valued at $26,280,000 after buying an additional 1,105,728 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Weave Communications in the fourth quarter valued at $14,984,000. Voya Investment Management LLC lifted its holdings in Weave Communications by 509.2% in the fourth quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company’s stock valued at $17,500,000 after acquiring an additional 918,804 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Weave Communications by 23.5% in the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock valued at $72,220,000 after acquiring an additional 863,547 shares during the period. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Raymond James reissued a “strong-buy” rating and issued a $20.00 price objective (up previously from $17.00) on shares of Weave Communications in a report on Friday, February 21st.

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.