Weave Communications (NYSE:WEAV) Hits New 1-Year High - Time to Buy?

Shares of Weave Communications, Inc. (NYSE:WEAV - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $16.16 and last traded at $16.10, with a volume of 131591 shares trading hands. The stock had previously closed at $15.92.

Analysts Set New Price Targets

A number of research firms recently commented on WEAV. Piper Sandler lifted their target price on Weave Communications from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on shares of 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 increased their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $16.50.

Weave Communications Stock Performance

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -38.70 and a beta of 2.00. The business's 50-day simple moving average is $13.88 and its two-hundred day simple moving average is $11.57.

Insiders Place Their Bets

In other news, insider Branden Neish sold 7,111 shares of the firm'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 value of $113,420.45. Following the transaction, the insider now owns 512,122 shares in the company, valued at $8,168,345.90. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alan Taylor sold 24,499 shares of Weave Communications stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $12.58, for a total value of $308,197.42. Following the completion of the sale, the chief financial officer now directly owns 451,442 shares in the company, valued at $5,679,140.36. This represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,174,514 shares of company stock worth $16,949,341. 36.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its position in shares of Weave Communications by 40.9% in the third quarter. Wasatch Advisors LP now owns 3,760,837 shares of the company's stock valued at $48,139,000 after buying an additional 1,091,028 shares during the last quarter. AXA S.A. acquired a new stake in Weave Communications in the 2nd quarter valued at about $11,590,000. State Street Corp raised its holdings in Weave Communications by 19.5% in the 3rd quarter. State Street Corp now owns 950,683 shares of the company's stock valued at $12,169,000 after acquiring an additional 155,054 shares during the last quarter. Geode Capital Management LLC lifted its stake in Weave Communications by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 883,207 shares of the company's stock worth $11,308,000 after purchasing an additional 101,580 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of Weave Communications by 37.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company's stock worth $11,180,000 after purchasing an additional 239,202 shares during the last quarter. Hedge funds and other institutional investors own 86.83% of the company's stock.

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.