Weave Communications (NYSE:WEAV) Sets New 52-Week High - Still a Buy?

Shares of Weave Communications, Inc. (NYSE:WEAV - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $17.45 and last traded at $17.43, with a volume of 841376 shares trading hands. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WEAV shares. Piper Sandler raised their target price on Weave Communications from $16.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their target price on Weave Communications from $13.00 to $14.50 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, Loop Capital raised their target price on Weave Communications from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Weave Communications currently has a consensus rating of "Buy" and an average price target of $16.50.

Weave Communications Price 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 firm has a market cap of $1.27 billion, a price-to-earnings ratio of -43.46 and a beta of 1.91. The stock has a 50-day moving average of $16.09 and a two-hundred day moving average of $13.63.

Insider Activity at Weave Communications

In related news, CEO Brett T. White sold 54,778 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $15.86, for a total value 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 represents a 2.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Blake G. Modersitzki sold 6,230 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $17.45, for a total value of $108,713.50. Following the completion of the sale, the director now directly owns 188,042 shares of the company's stock, valued at approximately $3,281,332.90. This represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,072,507 shares of company stock worth $16,387,138 in the last quarter. 36.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Weave Communications

Hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP raised its stake 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 worth $82,874,000 after purchasing an additional 1,444,828 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Weave Communications by 202.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company's stock worth $26,280,000 after purchasing an additional 1,105,728 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Weave Communications during the 4th quarter worth about $14,984,000. Voya Investment Management LLC raised its stake in shares of Weave Communications by 509.2% during the 4th quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company's stock worth $17,500,000 after purchasing an additional 918,804 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Weave Communications by 23.5% during the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company's stock worth $72,220,000 after purchasing an additional 863,547 shares in the last quarter. 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.