Weave Communications (NYSE:WEAV) Trading Down 3.3%

Weave Communications, Inc. (NYSE:WEAV)’s share price dropped 3.3% during trading on Tuesday . The company traded as low as $11.08 and last traded at $11.08. Approximately 79,518 shares were traded during trading, a decline of 83% from the average daily volume of 460,007 shares. The stock had previously closed at $11.46.

Analysts Set New Price Targets

A number of brokerages have issued reports on WEAV. Stifel Nicolaus raised their target price on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Raymond James upgraded Weave Communications from an “outperform” rating to a “strong-buy” rating and set a $15.00 price target for the company in a report on Monday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective on shares of Weave Communications in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.00.

Weave Communications Stock Up 2.9 %

The firm’s 50 day moving average price is $12.22 and its two-hundred day moving average price is $10.24. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $810.04 million, a P/E ratio of -25.51 and a beta of 2.29.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. Weave Communications had a negative net margin of 18.20% and a negative return on equity of 31.93%. The firm had revenue of $45.69 million for the quarter, compared to analysts’ expectations of $44.24 million. Equities research analysts forecast that Weave Communications, Inc. will post -0.37 EPS for the current year.

Insider Buying and Selling

In other news, CFO Alan Taylor sold 15,000 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $12.00, for a total value of $180,000.00. Following the sale, the chief financial officer now directly owns 480,813 shares of the company’s stock, valued at approximately $5,769,756. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 41.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEAV. Vanguard Group Inc. lifted its position in shares of Weave Communications by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 3,030,289 shares of the company’s stock valued at $34,757,000 after acquiring an additional 87,496 shares during the period. Goldman Sachs Group Inc. lifted its position in Weave Communications by 27.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 106,661 shares of the company’s stock worth $1,223,000 after purchasing an additional 22,825 shares during the period. GSA Capital Partners LLP grew its stake in Weave Communications by 162.0% during the fourth quarter. GSA Capital Partners LLP now owns 74,732 shares of the company’s stock worth $857,000 after buying an additional 46,213 shares in the last quarter. Barclays PLC lifted its stake in Weave Communications by 235.7% during the fourth quarter. Barclays PLC now owns 63,460 shares of the company’s stock worth $728,000 after purchasing an additional 44,558 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Weave Communications by 13.0% in the fourth quarter. Voya Investment Management LLC now owns 30,165 shares of the company’s stock valued at $346,000 after acquiring an additional 3,463 shares during the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Weave Communications Company Profile

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.