Weave Communications (NYSE:WEAV) Price Target Raised to $14.50 at The Goldman Sachs Group

Weave Communications (NYSE:WEAV) had its price objective increased by The Goldman Sachs Group from $13.00 to $14.50 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also recently commented on WEAV. 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 research report on Thursday, October 31st. Piper Sandler boosted their target price on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $16.50.

Weave Communications Price Performance

Shares of Weave Communications stock opened at $13.01 on Friday. The company has a 50-day simple moving average of $12.22 and a two-hundred day simple moving average of $10.51. The stock has a market capitalization of $934.29 million, a price-to-earnings ratio of -32.53 and a beta of 2.08. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.09. Weave Communications has a twelve month low of $7.76 and a twelve month high of $14.34.

Insider Buying and Selling

In related news, Director Blake G. Modersitzki sold 51,332 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $13.51, for a total transaction of $693,495.32. Following the completion of the transaction, the director now directly owns 306,852 shares in the company, valued at $4,145,570.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Weave Communications news, CFO Alan Taylor sold 8,710 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $14.12, for a total transaction of $122,985.20. Following the sale, the chief financial officer now directly owns 392,085 shares of the company’s stock, valued at $5,536,240.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Blake G. Modersitzki sold 51,332 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $13.51, for a total transaction of $693,495.32. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 286,106 shares of company stock worth $3,811,470 in the last three months. 36.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. grew its holdings in Weave Communications by 5.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after acquiring an additional 896 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Weave Communications by 6.6% during the first quarter. California State Teachers Retirement System now owns 34,685 shares of the company’s stock worth $398,000 after buying an additional 2,152 shares during the period. ClariVest Asset Management LLC increased its position in shares of Weave Communications by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company’s stock worth $741,000 after buying an additional 2,298 shares during the period. AQR Capital Management LLC increased its position in shares of Weave Communications by 3.8% during the second quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after buying an additional 2,516 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Weave Communications by 48.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after buying an additional 3,228 shares during the period. 86.83% of the stock is owned by 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.