Weave Communications (NYSE:WEAV) Reaches New 1-Year High - Should You Buy?

Weave Communications, Inc. (NYSE:WEAV - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $14.34 and last traded at $14.23, with a volume of 683726 shares. The stock had previously closed at $14.00.

Analysts Set New Price Targets

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

Weave Communications Stock Up 1.3 %

The firm has a fifty day moving average of $12.39 and a 200 day moving average of $10.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.64 and a quick ratio of 1.64.

Insider Activity

In other news, CFO Alan Taylor sold 2,638 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $13.00, for a total value of $34,294.00. Following the completion of the sale, the chief financial officer now directly owns 421,847 shares of the company's stock, valued at $5,484,011. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Marcus Bertilson sold 15,000 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $10.67, for a total transaction of $160,050.00. Following the completion of the transaction, the chief operating officer now owns 337,682 shares in the company, valued at approximately $3,603,066.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alan Taylor sold 2,638 shares of Weave Communications stock in a transaction on Monday, October 7th. The shares were sold at an average price of $13.00, for a total transaction of $34,294.00. Following the completion of the sale, the chief financial officer now owns 421,847 shares in the company, valued at approximately $5,484,011. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,106 shares of company stock valued at $3,811,470 in the last 90 days. Company insiders own 36.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in Weave Communications in the 3rd quarter worth about $45,000. Private Management Group Inc. bought a new stake in shares of Weave Communications during the second quarter worth $90,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Weave Communications by 48.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company's stock valued at $90,000 after purchasing an additional 3,228 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of Weave Communications in the second quarter worth about $98,000. Finally, US Bancorp DE bought a new position in shares of Weave Communications in the third quarter worth about $107,000. 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.

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