Blake G. Modersitzki Sells 79,863 Shares of Weave Communications, Inc. (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) Director Blake G. Modersitzki sold 79,863 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $14.30, for a total value of $1,142,040.90. Following the completion of the sale, the director now owns 291,070 shares in the company, valued at approximately $4,162,301. This trade represents a 21.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Weave Communications Price Performance

Shares of NYSE:WEAV opened at $13.27 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.64. Weave Communications, Inc. has a 1-year low of $8.10 and a 1-year high of $14.50. The firm’s 50 day simple moving average is $12.74 and its two-hundred day simple moving average is $10.70. The company has a market capitalization of $965.67 million, a P/E ratio of -33.18 and a beta of 2.08.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WEAV shares. The Goldman Sachs Group lifted their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Piper Sandler increased their price target on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, 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 note on Thursday, October 31st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $16.50.

Institutional Investors Weigh In On Weave Communications

A number of hedge funds have recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its position in Weave Communications by 5.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock valued at $158,000 after buying an additional 896 shares during the period. California State Teachers Retirement System grew its stake in Weave Communications by 6.6% during the 1st quarter. California State Teachers Retirement System now owns 34,685 shares of the company’s stock worth $398,000 after buying an additional 2,152 shares during the last quarter. ClariVest Asset Management LLC increased its holdings in shares of Weave Communications by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company’s stock valued at $741,000 after acquiring an additional 2,298 shares in the last quarter. Truvestments Capital LLC raised its holdings in shares of Weave Communications by 11.4% in the third quarter. Truvestments Capital LLC now owns 23,422 shares of the company’s stock worth $300,000 after buying an additional 2,405 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Weave Communications by 3.8% during the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after acquiring an additional 2,516 shares during the period. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

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.