Weave Communications (NYSE:WEAV) Hits New 12-Month High - Here's Why

Weave Communications, Inc. (NYSE:WEAV - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $16.61 and last traded at $16.45, with a volume of 170808 shares. The stock had previously closed at $16.44.

Wall Street Analysts Forecast Growth

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

Weave Communications Stock Up 0.4 %

The company has a market cap of $1.19 billion, a P/E ratio of -40.96 and a beta of 1.91. The stock's 50-day moving average price is $15.48 and its 200-day moving average price is $13.18. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Insider Transactions at Weave Communications

In related news, insider Branden Neish sold 7,111 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.95, for a total value of $113,420.45. Following the sale, the insider now owns 512,122 shares in the company, valued at $8,168,345.90. This represents a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brett T. White sold 54,778 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $15.86, for a total transaction of $868,779.08. Following the completion of the sale, the chief executive officer now owns 1,928,364 shares in the company, valued at $30,583,853.04. This represents a 2.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,252,643 shares of company stock valued at $18,903,105 in the last 90 days. 36.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weave Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in WEAV. nVerses Capital LLC purchased a new stake in shares of Weave Communications during the 3rd quarter worth approximately $45,000. Quarry LP bought a new position in Weave Communications in the 3rd quarter valued at $45,000. US Bancorp DE bought a new position in Weave Communications in the 3rd quarter valued at $107,000. Silverleafe Capital Partners LLC bought a new position in Weave Communications in the 4th quarter valued at $206,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Weave Communications during the 4th quarter valued at $228,000. Hedge funds and other institutional investors own 86.83% of the company's stock.

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.