Insider Selling: Weave Communications, Inc. (NYSE:WEAV) CRO Sells $576,280.08 in Stock

Weave Communications, Inc. (NYSE:WEAV) CRO Joseph David Mcneil sold 51,638 shares of Weave Communications stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $11.16, for a total value of $576,280.08. Following the completion of the transaction, the executive now owns 298,362 shares of the company’s stock, valued at approximately $3,329,719.92. The trade was a 14.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Weave Communications Stock Performance

WEAV opened at $11.72 on Friday. The business’s 50 day moving average is $14.60 and its 200-day moving average is $14.00. The stock has a market cap of $865.81 million, a PE ratio of -30.04 and a beta of 1.96. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. Weave Communications, Inc. has a twelve month low of $8.10 and a twelve month high of $17.63.

Weave Communications (NYSE:WEAV) last released its quarterly earnings results 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). The business had revenue of $54.17 million for the quarter, compared to the consensus estimate of $53.23 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. On average, analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Weave Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its holdings in Weave Communications by 38.4% during the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock worth $82,874,000 after purchasing an additional 1,444,828 shares in the last quarter. Vanguard Group Inc. raised its holdings in Weave Communications by 23.5% during the fourth quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock worth $72,220,000 after purchasing an additional 863,547 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Weave Communications by 202.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock worth $26,280,000 after purchasing an additional 1,105,728 shares in the last quarter. Pathway Capital Management LP raised its holdings in Weave Communications by 136.3% during the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock worth $21,482,000 after purchasing an additional 778,413 shares in the last quarter. Finally, AXA S.A. raised its holdings in Weave Communications by 0.7% during the fourth quarter. AXA S.A. now owns 1,294,281 shares of the company’s stock worth $20,605,000 after purchasing an additional 9,365 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James restated a “strong-buy” rating and issued a $20.00 target price (up from $17.00) on shares of Weave Communications in a research note 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.