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 firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $16.49, for a total value of $1,397,758.36. Following the completion of the sale, the director now directly owns 201,975 shares of the company’s stock, valued at approximately $3,330,567.75. This represents a 29.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Weave Communications Trading Up 0.2 %

NYSE WEAV opened at $16.12 on Friday. The company has a fifty day moving average of $14.31 and a 200 day moving average of $11.93. The company has a market capitalization of $1.17 billion, a PE ratio of -40.30 and a beta of 2.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. Weave Communications, Inc. has a 1 year low of $8.10 and a 1 year high of $16.56.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WEAV. Loop Capital lifted their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. 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 research note on Friday, November 1st. Finally, Piper Sandler upped their target price on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $16.50.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in Weave Communications by 13.8% in the third quarter. JPMorgan Chase & Co. now owns 144,677 shares of the company’s stock valued at $1,852,000 after buying an additional 17,530 shares in the last quarter. Principal Financial Group Inc. boosted its position in Weave Communications by 139.0% during the third quarter. Principal Financial Group Inc. now owns 89,768 shares of the company’s stock worth $1,149,000 after purchasing an additional 52,210 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Weave Communications by 37.7% during the third quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock worth $11,180,000 after purchasing an additional 239,202 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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, Barclays PLC raised its stake in Weave Communications by 31.9% in the 3rd quarter. Barclays PLC now owns 223,503 shares of the company’s stock valued at $2,861,000 after purchasing an additional 54,019 shares during the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

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.