Weave Communications (NYSE:WEAV) Sets New 52-Week Low After Insider Selling

Weave Communications, Inc. (NYSE:WEAV)’s share 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 transaction of $64,184.48. Following the completion of the sale, the insider now 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett T. White sold 53,111 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were 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 trade represents a 2.58% decrease in their position. The disclosure for this sale can be found here. In related news, CRO Joseph David Mcneil sold 14,302 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total transaction of $121,996.06. Following the completion of the transaction, the executive now owns 409,060 shares in the company, valued at $3,489,281.80. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

WEAV has been the subject of a number of recent analyst reports. Raymond James Financial decreased their target price on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 29th. Stifel Nicolaus decreased their target price on Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Piper Sandler upped their target price on Weave Communications from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $16.10.

Weave Communications Stock Performance

The business has a fifty day simple moving average of $9.77 and a 200-day simple moving average of $12.65. 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 firm has a market cap of $609.56 million, a P/E ratio of -19.78 and a beta of 1.86.

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

Hedge Funds Weigh In On Weave Communications

A number of 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% in 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. increased its holdings in shares of 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 acquiring an additional 194,936 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Weave Communications by 202.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock valued at $26,280,000 after acquiring an additional 1,105,728 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Weave Communications by 26.2% during the first quarter. Voya Investment Management LLC now owns 1,387,040 shares of the company’s stock valued at $15,382,000 after acquiring an additional 287,785 shares in the last quarter. Finally, Pathway Capital Management LP increased its holdings in shares of Weave Communications by 136.3% during the fourth quarter. Pathway Capital Management LP now owns 1,349,365 shares of the company’s stock valued at $21,482,000 after acquiring an additional 778,413 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

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.