Weave Communications (NYSE:WEAV) Reaches New 1-Year High - Here's What Happened

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

Wall Street Analyst Weigh In

WEAV has been the topic of several research reports. Piper Sandler upped their price objective on Weave Communications from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Raymond James reaffirmed a "strong-buy" rating and set a $20.00 price objective (up previously from $17.00) on shares of Weave Communications in a report on Friday. Loop Capital upped their price objective on Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price objective on Weave Communications from $13.00 to $14.50 and gave the stock a "neutral" rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $17.50.

Weave Communications Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market capitalization of $1.04 billion, a P/E ratio of -36.55 and a beta of 1.91. The company has a 50-day moving average price of $16.23 and a 200-day moving average price of $13.84.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. The company had revenue of $54.17 million during the quarter, compared to the consensus estimate of $53.23 million. On average, sell-side analysts predict that Weave Communications, Inc. will post -0.33 earnings per share for the current year.

Insider Transactions at Weave Communications

In other news, Director Blake G. Modersitzki sold 74,756 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total value of $1,307,482.44. Following the transaction, the director now directly owns 179,153 shares in the company, valued at $3,133,385.97. This trade represents a 29.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Alan Taylor sold 44,245 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.98, for a total value of $707,035.10. Following the completion of the transaction, the chief financial officer now owns 301,734 shares in the company, valued at $4,821,709.32. This represents a 12.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,190,043 shares of company stock worth $18,442,044 in the last three months. Insiders own 36.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC bought a new position in Weave Communications during the fourth quarter worth about $34,000. Quarry LP bought a new position in Weave Communications during the third quarter worth about $45,000. Amundi bought a new position in Weave Communications during the fourth quarter worth about $66,000. Summit Investment Advisors Inc. lifted its holdings in Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock worth $66,000 after acquiring an additional 928 shares in the last quarter. Finally, US Bancorp DE bought a new position in Weave Communications during the third quarter worth about $107,000. 86.83% of the stock is currently owned by institutional investors.

About Weave Communications

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.