Insider Selling: Weave Communications (NYSE:WEAV) CRO Sells 25,000 Shares of Stock

by · The Markets Daily

Weave Communications, Inc. (NYSE:WEAV – Get Free Report) CRO Joseph David Mcneil sold 25,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $5.53, for a total value of $138,250.00. Following the transaction, the executive owned 505,721 shares in the company, valued at approximately $2,796,637.13. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Weave Communications Stock Performance

WEAV stock traded down $0.15 on Monday, reaching $5.42. 1,570,306 shares of the company were exchanged, compared to its average volume of 2,092,727. Weave Communications, Inc. has a 12 month low of $4.84 and a 12 month high of $12.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $422.51 million, a PE ratio of -15.04 and a beta of 1.73. The stock’s fifty day moving average price is $6.34 and its 200 day moving average price is $6.71.

Weave Communications (NYSE:WEAV – Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Weave Communications had a negative return on equity of 33.06% and a negative net margin of 11.74%.The firm had revenue of $63.40 million during the quarter, compared to analyst estimates of $63.19 million. On average, research analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Weave Communications

Several institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new position in Weave Communications during the 4th quarter valued at about $26,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Weave Communications by 43.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,955 shares of the company’s stock worth $50,000 after purchasing an additional 1,812 shares in the last quarter. Amundi raised its stake in shares of Weave Communications by 27.1% during the first quarter. Amundi now owns 5,301 shares of the company’s stock worth $59,000 after acquiring an additional 1,130 shares in the last quarter. AXQ Capital LP purchased a new position in Weave Communications in the 3rd quarter worth $67,000. Finally, CWM LLC boosted its holdings in Weave Communications by 1,125.6% during the 4th quarter. CWM LLC now owns 9,033 shares of the company’s stock valued at $69,000 after acquiring an additional 8,296 shares during the period. 86.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WEAV shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Weave Communications in a report on Monday, December 29th. Stifel Nicolaus lowered their price objective on shares of Weave Communications from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Raymond James Financial cut Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a report on Tuesday, January 6th. Finally, Piper Sandler decreased their target price on shares of Weave Communications from $12.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Weave Communications currently has an average rating of “Hold” and a consensus target price of $10.00.

View Our Latest Stock Analysis on WEAV

About Weave Communications

(Get Free Report)

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.

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