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

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.56 and last traded at $16.19, with a volume of 1189801 shares traded. The stock had previously closed at $16.12.

Analysts Set New Price Targets

A number of research firms have recently commented on WEAV. Piper Sandler upped 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 upped their price objective on Weave Communications from $13.00 to $14.50 and gave the company a "neutral" rating in a research report on Friday, November 1st. Finally, Loop Capital lifted their target price on Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. One research 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $16.50.

Weave Communications Stock Down 1.1 %

The stock has a market cap of $1.17 billion, a PE ratio of -40.03 and a beta of 2.00. The business has a fifty day moving average of $14.15 and a 200-day moving average of $11.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59.

Insiders Place Their Bets

In other news, CFO Alan Taylor sold 4,296 shares of the business's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $13.05, for a total value of $56,062.80. Following the completion of the sale, the chief financial officer now owns 446,841 shares in the company, valued at approximately $5,831,275.05. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Branden Neish sold 7,111 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.95, for a total transaction of $113,420.45. Following the completion of the sale, the insider now directly owns 512,122 shares of the company's stock, valued at $8,168,345.90. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,175,291 shares of company stock worth $17,043,781. 36.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WEAV. nVerses Capital LLC purchased a new position in shares of Weave Communications in the 3rd quarter worth approximately $45,000. Quarry LP purchased a new position in Weave Communications in the third quarter worth $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Weave Communications by 48.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company's stock worth $90,000 after purchasing an additional 3,228 shares during the last quarter. Private Management Group Inc. acquired a new position in shares of Weave Communications during the second quarter worth $90,000. Finally, US Bancorp DE purchased a new stake in shares of Weave Communications during the 3rd quarter valued at $107,000. 86.83% of the stock is currently 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.