Weave Communications (NYSE:WEAV) Shares Gap Down – Here’s Why

Shares of Weave Communications, Inc. (NYSE:WEAV) gapped down before the market opened on Friday . The stock had previously closed at $14.02, but opened at $13.52. Weave Communications shares last traded at $12.43, with a volume of 365,128 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Loop Capital lifted their price target on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler lifted their price target on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, The Goldman Sachs Group lifted their price target on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note on Friday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $16.50.

Weave Communications Price Performance

The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.09. The stock has a market cap of $942.15 million, a P/E ratio of -32.80 and a beta of 2.08. The firm’s fifty day moving average price is $12.22 and its 200-day moving average price is $10.52.

Insider Transactions at Weave Communications

In other news, CFO Alan Taylor sold 3,560 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $10.39, for a total value of $36,988.40. Following the transaction, the chief financial officer now owns 525,555 shares in the company, valued at approximately $5,460,516.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Blake G. Modersitzki sold 51,332 shares of Weave Communications stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $13.51, for a total value of $693,495.32. Following the sale, the director now owns 306,852 shares in the company, valued at $4,145,570.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Alan Taylor sold 3,560 shares of Weave Communications stock in a transaction on Friday, September 13th. The shares were sold at an average price of $10.39, for a total transaction of $36,988.40. Following the completion of the sale, the chief financial officer now owns 525,555 shares in the company, valued at approximately $5,460,516.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,248 shares of company stock worth $1,986,355. Insiders own 36.30% of the company’s stock.

Institutional Trading of Weave Communications

Large investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in Weave Communications in the third quarter valued at $45,000. US Bancorp DE bought a new stake in shares of Weave Communications during the 3rd quarter valued at $107,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Weave Communications by 48.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after buying an additional 3,228 shares in the last quarter. Private Management Group Inc. bought a new stake in shares of Weave Communications during the 2nd quarter valued at $90,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Weave Communications during the 2nd quarter valued at $98,000. Institutional investors own 86.83% of the company’s stock.

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.