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Neish Branden, the Chief Product & Technology Officer at Weave Communications , Inc. (NYSE:WEAV), recently sold 20,741 shares of the company’s common stock. The sale, which took place on January 27, 2025, was conducted at an average price of $15.86 per share, amounting to a total transaction value of $328,952.
Following this transaction, Branden continues to hold 491,381 shares of Weave Communications, representing a significant stake in the company, which currently maintains a market capitalization of $1.15 billion. The sale was made to cover taxes due upon the release and settlement of restricted stock units, as noted in the filing. InvestingPro analysis indicates the stock has demonstrated notable price volatility, with additional insights available through the platform’s comprehensive research reports.
In other recent news, Weave Communications Inc. reported a substantial year-over-year revenue increase to $52.4 million in its third quarter of 2024, exceeding expected guidance by $1.2 million. This financial performance marked a milestone for the company with its first positive non-GAAP operating income of $1.4 million. The company’s growth is credited to its advanced platform features, strategic partnerships, and expanded market presence. Piper Sandler maintains an Overweight rating on Weave, with a steady price target of $17.00, based on meetings with Weave’s top executives. The firm’s confidence is reinforced by Weave’s strategic direction, which includes plans for new products, partnerships, and payment solutions, expected to serve as catalysts for the company’s performance. In addition, Weave raised its 2024 revenue guidance to between $202.7 million and $203.7 million and expects continued positive non-GAAP operating income. The company anticipates Q4 2024 revenue to be in the range of $52.6 million to $53.6 million and plans to expand from four to potentially over 20 subverticals in the coming years. These recent developments underscore Weave’s commitment to growth and operational efficiency.
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