Weave Communications (NYSE:WEAV) Insider Sells 9,615 Shares

Weave Communications, Inc. (NYSE:WEAV) insider Erin Goodsell sold 9,615 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $6.89, for a total value of $66,247.35. Following the completion of the sale, the insider owned 527,055 shares of the company’s stock, valued at $3,631,408.95. The trade was a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Weave Communications Price Performance

NYSE WEAV traded down $0.08 on Tuesday, reaching $6.89. 806,492 shares of the company’s stock traded hands, compared to its average volume of 1,050,818. The stock has a market cap of $537.39 million, a PE ratio of -16.02 and a beta of 1.72. Weave Communications, Inc. has a 12 month low of $5.64 and a 12 month high of $17.63. The stock has a 50-day simple moving average of $6.56 and a 200 day simple moving average of $7.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24.

Weave Communications (NYSE:WEAV) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Weave Communications had a negative net margin of 14.32% and a negative return on equity of 42.10%. The firm had revenue of $61.34 million during the quarter, compared to analyst estimates of $60.67 million. As a group, research analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Institutional Trading of Weave Communications

Several large investors have recently added to or reduced their stakes in WEAV. FNY Investment Advisers LLC bought a new position in Weave Communications in the 3rd quarter worth $511,000. Jacobs Levy Equity Management Inc. increased its position in shares of Weave Communications by 15.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 840,246 shares of the company’s stock valued at $5,613,000 after buying an additional 113,617 shares during the period. Oberweis Asset Management Inc. increased its position in shares of Weave Communications by 1.1% during the third quarter. Oberweis Asset Management Inc. now owns 985,950 shares of the company’s stock valued at $6,586,000 after buying an additional 10,550 shares during the period. Wasatch Advisors LP raised its stake in Weave Communications by 16.3% in the third quarter. Wasatch Advisors LP now owns 6,098,592 shares of the company’s stock worth $40,739,000 after buying an additional 855,253 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Weave Communications by 42.0% in the third quarter. Verition Fund Management LLC now owns 208,982 shares of the company’s stock worth $1,396,000 after buying an additional 61,793 shares during the period. Institutional investors own 86.83% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WEAV shares. Piper Sandler lowered their target price on Weave Communications from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Citigroup decreased their price target on Weave Communications from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Weave Communications in a research note on Monday. Finally, Stifel Nicolaus decreased their target price on shares of Weave Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.50.

About Weave Communications

Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.

The platform’s core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.