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

Weave Communications, Inc. (NYSE:WEAV) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.15 and last traded at $16.89, with a volume of 33355 shares trading hands. The stock had previously closed at $16.83.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WEAV shares. Loop Capital lifted their target price on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Piper Sandler raised their price target on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $16.50.

Weave Communications Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. The company’s 50 day moving average price is $15.58 and its two-hundred day moving average price is $13.27. The stock has a market capitalization of $1.23 billion, a PE ratio of -42.47 and a beta of 1.91.

Insiders Place Their Bets

In other Weave Communications news, Director Blake G. Modersitzki sold 103,620 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $16.53, for a total transaction of $1,712,838.60. Following the completion of the sale, the director now directly owns 188,792 shares of the company’s stock, valued at $3,120,731.76. This represents a 35.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett T. White sold 54,778 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $15.86, for a total value of $868,779.08. Following the transaction, the chief executive officer now owns 1,928,364 shares in the company, valued at $30,583,853.04. The trade was a 2.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,252,643 shares of company stock worth $18,903,105 in the last ninety days. 36.30% of the stock is owned by corporate insiders.

Institutional Trading of Weave Communications

Several hedge funds and other institutional investors have recently bought and sold shares of WEAV. nVerses Capital LLC purchased a new position in Weave Communications in the third quarter valued at about $45,000. Quarry LP acquired a new position in shares of Weave Communications in the 3rd quarter worth approximately $45,000. US Bancorp DE bought a new stake in shares of Weave Communications during the third quarter valued at approximately $107,000. Los Angeles Capital Management LLC bought a new stake in Weave Communications during the 4th quarter worth about $162,000. Finally, Silverleafe Capital Partners LLC acquired a new position in Weave Communications in the fourth quarter valued at approximately $206,000. 86.83% of the stock is owned by 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.