Weave Communications (NYSE:WEAV) Sets New 1-Year High – What’s Next?

Weave Communications, Inc. (NYSE:WEAV) reached a new 52-week high during trading on Wednesday . The company traded as high as $17.15 and last traded at $16.89, with a volume of 33355 shares trading hands. The stock had previously closed at $16.83.

Wall Street Analysts Forecast Growth

Several research firms have commented on WEAV. Piper Sandler lifted their target price on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Loop Capital boosted their target price on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. One 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.50.

Weave Communications Stock Performance

The business’s 50 day simple moving average is $15.58 and its 200 day simple moving average is $13.27. The company has a market cap of $1.23 billion, a P/E ratio of -42.47 and a beta of 1.91. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Insider Activity at Weave Communications

In related news, CEO Brett T. White sold 54,778 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $15.86, for a total transaction of $868,779.08. Following the completion of the sale, the chief executive officer now directly owns 1,928,364 shares of the company’s stock, valued at approximately $30,583,853.04. This trade represents a 2.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake G. Modersitzki sold 79,863 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $14.30, for a total value of $1,142,040.90. Following the transaction, the director now directly owns 291,070 shares of the company’s stock, valued at $4,162,301. The trade was a 21.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,252,643 shares of company stock worth $18,903,105. Insiders own 36.30% of the company’s stock.

Institutional Investors Weigh In On Weave Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in shares of Weave Communications during the 3rd quarter worth about $45,000. Quarry LP acquired a new stake in Weave Communications in the 3rd quarter valued at about $45,000. US Bancorp DE purchased a new stake in Weave Communications during the third quarter valued at about $107,000. The Manufacturers Life Insurance Company boosted its position in Weave Communications by 26.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock worth $144,000 after acquiring an additional 3,315 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in Weave Communications in the 4th quarter worth about $162,000. 86.83% of the stock is owned by hedge funds and other institutional investors.

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.