Weave Communications (NYSE:WEAV) Sets New 52-Week High - Should You Buy?

Weave Communications, Inc. (NYSE:WEAV - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as $16.00 and last traded at $16.00, with a volume of 1294 shares changing hands. The stock had previously closed at $15.40.

Analysts Set New Price Targets

Several research analysts recently issued reports on WEAV shares. The Goldman Sachs Group upped their price target 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. Piper Sandler upped their target price on shares of Weave Communications from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Finally, Loop Capital increased their price target on shares of Weave Communications from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Weave Communications has an average rating of "Buy" and an average target price of $16.50.

Weave Communications Trading Up 0.9 %

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -38.85 and a beta of 2.00. 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 business's 50-day simple moving average is $13.72 and its 200-day simple moving average is $11.38.

Insider Activity at Weave Communications

In related news, Director Blake G. Modersitzki sold 15,718 shares of Weave Communications stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $13.49, for a total transaction of $212,035.82. Following the transaction, the director now owns 303,935 shares of the company's stock, valued at $4,100,083.15. This trade represents a 4.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alan Taylor sold 13,295 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $11.03, for a total transaction of $146,643.85. Following the completion of the sale, the chief financial officer now directly owns 475,941 shares of the company's stock, valued at $5,249,629.23. The trade was a 2.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 854,817 shares of company stock worth $11,942,834 over the last ninety days. Company insiders own 36.30% of the company's stock.

Hedge Funds Weigh In On Weave Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of Weave Communications in the 3rd quarter valued at approximately $45,000. Quarry LP acquired a new position in shares of Weave Communications in the third quarter valued at approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 worth $90,000 after acquiring an additional 3,228 shares in the last quarter. Private Management Group Inc. acquired a new stake in shares of Weave Communications during the second quarter worth $90,000. Finally, US Bancorp DE bought a new stake in Weave Communications in the 3rd quarter valued at $107,000. 86.83% of the stock is 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.