Weave Communications (NYSE:WEAV) Hits New 12-Month High – What’s Next?

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

Wall Street Analyst Weigh In

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

Weave Communications Stock Performance

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -43.29 and a beta of 1.91. The stock has a 50 day moving average price of $16.19 and a two-hundred day moving average price of $13.77.

Insider Buying and Selling at Weave Communications

In other Weave Communications news, Director Blake G. Modersitzki sold 5,485 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $17.45, for a total value of $95,713.25. Following the sale, the director now directly owns 188,441 shares in the company, valued at approximately $3,288,295.45. This trade represents a 2.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brett T. White sold 54,778 shares of Weave Communications stock in a transaction on Monday, January 27th. The stock was sold at an average price of $15.86, for a total transaction of $868,779.08. Following the transaction, the chief executive officer now directly owns 1,928,364 shares in the company, valued at approximately $30,583,853.04. This represents a 2.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,073,296 shares of company stock valued at $16,400,558. 36.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its holdings in shares of Weave Communications by 38.4% during the 4th quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock valued at $82,874,000 after purchasing an additional 1,444,828 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Weave Communications by 202.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock valued at $26,280,000 after buying an additional 1,105,728 shares in the last quarter. Raymond James Financial Inc. bought a new position in Weave Communications in the fourth quarter valued at approximately $14,984,000. Voya Investment Management LLC raised its holdings in shares of Weave Communications by 509.2% during the fourth quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company’s stock worth $17,500,000 after acquiring an additional 918,804 shares during the period. Finally, Vanguard Group Inc. lifted its position in Weave Communications by 23.5% in the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock valued at $72,220,000 after acquiring an additional 863,547 shares in the last quarter. 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.