Joseph David Mcneil Sells 25,000 Shares of Weave Communications (NYSE:WEAV) Stock

Weave Communications, Inc. (NYSE:WEAV) CRO Joseph David Mcneil sold 25,000 shares of Weave Communications stock in a transaction on Friday, March 6th. The shares were sold at an average price of $5.53, for a total value of $138,250.00. Following the completion of the transaction, the executive owned 505,721 shares in the company, valued at $2,796,637.13. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Weave Communications Trading Down 9.0%

WEAV opened at $4.93 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.08. The firm has a market cap of $387.35 million, a price-to-earnings ratio of -13.68 and a beta of 1.73. Weave Communications, Inc. has a 12 month low of $4.84 and a 12 month high of $12.19. The stock has a fifty day moving average price of $6.25 and a 200-day moving average price of $6.68.

Weave Communications (NYSE:WEAV) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $63.40 million for the quarter, compared to the consensus estimate of $63.19 million. Weave Communications had a negative return on equity of 33.06% and a negative net margin of 11.74%. As a group, equities research analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Weave Communications

A number of institutional investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC acquired a new position in Weave Communications during the 4th quarter valued at approximately $26,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Weave Communications by 43.7% during the second 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 during the period. Amundi lifted its holdings 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 purchasing an additional 1,130 shares during the period. AXQ Capital LP purchased a new stake in Weave Communications in the third quarter valued at approximately $67,000. Finally, CWM LLC increased its holdings in Weave Communications by 1,125.6% in the 4th quarter. CWM LLC now owns 9,033 shares of the company’s stock worth $69,000 after buying an additional 8,296 shares during the period. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WEAV. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Weave Communications in a research report on Monday, December 29th. Raymond James Financial downgraded shares of Weave Communications from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, January 6th. Stifel Nicolaus cut their price target on shares of Weave Communications from $11.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Finally, Piper Sandler reduced their price target on Weave Communications from $12.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Weave Communications has a consensus rating of “Hold” and a consensus target price of $10.00.

About Weave Communications

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.