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

Weave Communications, Inc. (NYSE:WEAV)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.16 and last traded at $16.10, with a volume of 131591 shares traded. The stock had previously closed at $15.92.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Loop Capital boosted 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, 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 report on Friday, November 1st. One research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.50.

Weave Communications Price Performance

The firm has a market capitalization of $1.16 billion, a P/E ratio of -39.75 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 has a 50 day simple moving average of $13.83 and a two-hundred day simple moving average of $11.51.

Insiders Place Their Bets

In other news, Director Blake G. Modersitzki sold 15,718 shares of Weave Communications stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $13.49, for a total value of $212,035.82. Following the transaction, the director now owns 303,935 shares in the company, valued at approximately $4,100,083.15. The trade was a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alan Taylor sold 24,499 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $12.58, for a total value of $308,197.42. Following the sale, the chief financial officer now owns 451,442 shares of the company’s stock, 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. Insiders have sold 1,123,158 shares of company stock worth $16,128,886 in the last ninety days. 36.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Weave Communications

A number of large investors have recently bought and sold shares of WEAV. Point72 Asset Management L.P. grew its holdings in shares of Weave Communications by 5.4% in the second quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after purchasing an additional 896 shares during the last quarter. ClariVest Asset Management LLC boosted its position in Weave Communications by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company’s stock valued at $741,000 after buying an additional 2,298 shares during the period. Truvestments Capital LLC grew its holdings in Weave Communications by 11.4% in the 3rd quarter. Truvestments Capital LLC now owns 23,422 shares of the company’s stock worth $300,000 after acquiring an additional 2,405 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Weave Communications by 3.8% in the second quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock valued at $620,000 after acquiring an additional 2,516 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Weave Communications by 48.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after acquiring an additional 3,228 shares during the period. 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.