Weave Communications (NYSE:WEAV) Sets New 12-Month High – Time to Buy?

Weave Communications, Inc. (NYSE:WEAV)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $16.56 and last traded at $16.19, with a volume of 1189801 shares changing hands. The stock had previously closed at $16.12.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WEAV. Piper Sandler lifted their target price on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Loop Capital boosted their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One equities 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 MarketBeat.com, Weave Communications has a consensus rating of “Buy” and an average price target of $16.50.

Weave Communications Trading Down 1.1 %

The stock has a fifty day moving average price of $14.20 and a 200 day moving average price of $11.85. The stock has a market cap of $1.17 billion, a PE ratio of -40.03 and a beta of 2.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59.

Insider Buying and Selling at Weave Communications

In other news, CFO Alan Taylor sold 22,356 shares of Weave Communications stock in a transaction on Friday, October 4th. The stock was sold at an average price of $13.00, for a total value of $290,628.00. Following the transaction, the chief financial officer now directly owns 424,485 shares in the company, valued at approximately $5,518,305. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Blake G. Modersitzki sold 15,718 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $13.49, for a total transaction of $212,035.82. Following the completion of the sale, the director now owns 303,935 shares of the company’s stock, valued at approximately $4,100,083.15. This trade represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,175,291 shares of company stock worth $17,043,781 over the last 90 days. Company insiders own 36.30% of the company’s stock.

Institutional Trading of Weave Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James & Associates raised its stake in shares of Weave Communications by 102.2% during the 2nd quarter. Raymond James & Associates now owns 140,015 shares of the company’s stock worth $1,263,000 after buying an additional 70,771 shares during the period. Bank of New York Mellon Corp increased its holdings in Weave Communications by 31.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 112,804 shares of the company’s stock worth $1,017,000 after acquiring an additional 26,953 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Weave Communications during the second quarter worth $145,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Weave Communications by 48.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after purchasing an additional 3,228 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Weave Communications by 14.5% in the second quarter. Principal Financial Group Inc. now owns 37,558 shares of the company’s stock valued at $339,000 after purchasing an additional 4,747 shares during the period. 86.83% of the stock is owned by institutional investors and hedge funds.

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.