Weave Communications (NYSE:WEAV) Sees Unusually-High Trading Volume on Analyst Upgrade

Weave Communications, Inc. (NYSE:WEAV) saw an uptick in trading volume on Thursday after The Goldman Sachs Group raised their price target on the stock from $13.00 to $14.50. The Goldman Sachs Group currently has a neutral rating on the stock. 1,024,351 shares traded hands during mid-day trading, an increase of 132% from the previous session’s volume of 441,899 shares.The stock last traded at $13.88 and had previously closed at $13.79.

Other research analysts also recently issued research reports about the stock. Piper Sandler upped their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday. Loop Capital upped their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $16.50.

Insider Activity

In other Weave Communications news, COO Marcus Bertilson sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $10.67, for a total value of $160,050.00. Following the transaction, the chief operating officer now owns 337,682 shares of the company’s stock, valued at $3,603,066.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Marcus Bertilson sold 15,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $10.67, for a total transaction of $160,050.00. Following the transaction, the chief operating officer now owns 337,682 shares of the company’s stock, valued at approximately $3,603,066.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alan Taylor sold 2,638 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $13.00, for a total transaction of $34,294.00. Following the completion of the transaction, the chief financial officer now directly owns 421,847 shares of the company’s stock, valued at approximately $5,484,011. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,248 shares of company stock valued at $1,986,355 in the last 90 days. Company insiders own 36.30% of the company’s stock.

Institutional Trading of Weave Communications

A number of large investors have recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in shares of Weave Communications in the 1st quarter valued at about $377,000. Swiss National Bank boosted its stake in shares of Weave Communications by 14.5% during the 1st quarter. Swiss National Bank now owns 68,600 shares of the company’s stock worth $788,000 after acquiring an additional 8,700 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Weave Communications in the first quarter valued at $156,000. Sei Investments Co. grew its stake in Weave Communications by 16.2% in the 1st quarter. Sei Investments Co. now owns 60,910 shares of the company’s stock valued at $699,000 after acquiring an additional 8,504 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Weave Communications in the first quarter valued at approximately $201,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.

Weave Communications Stock Down 6.4 %

The firm has a 50-day simple moving average of $12.17 and a two-hundred day simple moving average of $10.51. The company has a market cap of $942.51 million, a PE ratio of -32.81 and a beta of 2.10. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.64 and a quick ratio of 1.64.

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.