Weave Communications (NYSE:WEAV) Sets New 1-Year Low on Insider Selling

Weave Communications, Inc. (NYSE:WEAV)’s stock price hit a new 52-week low during trading on Thursday after an insider sold shares in the company. The stock traded as low as $8.24 and last traded at $8.33, with a volume of 869428 shares. The stock had previously closed at $8.44.

Specifically, insider Erin Goodsell sold 7,472 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $64,184.48. Following the completion of the sale, the insider now directly owns 584,657 shares of the company’s stock, valued at approximately $5,022,203.63. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brett T. White sold 53,111 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $8.59, for a total value of $456,223.49. Following the sale, the chief executive officer now directly owns 2,004,136 shares of the company’s stock, valued at approximately $17,215,528.24. This represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Weave Communications news, CRO Joseph David Mcneil sold 14,302 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $121,996.06. Following the completion of the sale, the executive now owns 409,060 shares of the company’s stock, valued at approximately $3,489,281.80. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WEAV shares. Raymond James Financial dropped their price target on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 29th. Piper Sandler lifted their price objective on Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their price objective on Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. One research 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 stock. Based on data from MarketBeat, Weave Communications currently has a consensus rating of “Buy” and a consensus target price of $16.10.

Weave Communications Trading Down 1.4%

The firm has a market capitalization of $625.87 million, a P/E ratio of -20.30 and a beta of 1.86. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $9.80 and a 200-day moving average price of $12.69.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). The business had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative return on equity of 31.08% and a negative net margin of 14.07%. Analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Wasatch Advisors LP boosted its position in Weave Communications by 38.4% during the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock valued at $82,874,000 after purchasing an additional 1,444,828 shares during the last quarter. Vanguard Group Inc. boosted its position in Weave Communications by 4.3% during the first quarter. Vanguard Group Inc. now owns 4,731,398 shares of the company’s stock valued at $52,471,000 after purchasing an additional 194,936 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Weave Communications by 202.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock valued at $26,280,000 after buying an additional 1,105,728 shares during the period. Voya Investment Management LLC raised its stake in Weave Communications by 26.2% in the first quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company’s stock valued at $15,382,000 after buying an additional 287,785 shares during the period. Finally, Pathway Capital Management LP raised its stake in Weave Communications by 136.3% in the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock valued at $21,482,000 after buying an additional 778,413 shares during the period. 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.