Weave Communications (NYSE:WEAV) Hits New 1-Year High – Here’s Why

Weave Communications, Inc. (NYSE:WEAV)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.70 and last traded at $17.36, with a volume of 953 shares trading hands. The stock had previously closed at $17.38.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. The Goldman Sachs Group boosted their price objective on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Loop Capital upped their price target on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Piper Sandler raised their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $16.50.

Weave Communications Stock Down 0.4 %

The firm has a 50 day moving average of $16.19 and a 200-day moving average of $13.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market capitalization of $1.26 billion, a P/E ratio of -43.29 and a beta of 1.91.

Insider Activity at Weave Communications

In other news, insider Branden Neish sold 20,741 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $15.86, for a total value of $328,952.26. Following the completion of the transaction, the insider now directly owns 491,381 shares of the company’s stock, valued at approximately $7,793,302.66. This represents a 4.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Blake G. Modersitzki sold 120,551 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $13.90, for a total value of $1,675,658.90. Following the transaction, the director now owns 262,440 shares of the company’s stock, valued at $3,647,916. This trade represents a 31.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,073,296 shares of company stock worth $16,400,558. 36.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Weave Communications

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Weave Communications in the third quarter valued at approximately $193,000. nVerses Capital LLC acquired a new position in Weave Communications in the third quarter worth $45,000. Raymond James & Associates grew its holdings in shares of Weave Communications by 66.8% during the third quarter. Raymond James & Associates now owns 233,534 shares of the company’s stock worth $2,989,000 after purchasing an additional 93,519 shares during the last quarter. US Bancorp DE acquired a new stake in shares of Weave Communications in the third quarter valued at $107,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Weave Communications in the third quarter valued at about $1,904,000. Institutional investors and hedge funds 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.