Weave Communications (NYSE:WEAV) Given New $18.00 Price Target at Loop Capital

Weave Communications (NYSE:WEAV) had its target price upped by analysts at Loop Capital from $15.00 to $18.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price objective points to a potential upside of 37.14% from the stock’s previous close.

Separately, Piper Sandler lifted their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday. 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’s stock. Based on data from MarketBeat.com, Weave Communications has an average rating of “Buy” and an average target price of $16.50.

Weave Communications Price Performance

WEAV stock opened at $13.13 on Thursday. The company has a market capitalization of $942.51 million, a P/E ratio of -32.81 and a beta of 2.10. The company has a fifty day moving average price of $12.17 and a 200-day moving average price of $10.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.64 and a current ratio of 1.64. Weave Communications has a 52-week low of $7.76 and a 52-week high of $14.34.

Insider Buying and Selling at Weave Communications

In other news, CFO Alan Taylor sold 3,560 shares of Weave Communications stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $10.39, for a total value of $36,988.40. Following the completion of the transaction, the chief financial officer now directly owns 525,555 shares of the company’s stock, valued at approximately $5,460,516.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Blake G. Modersitzki sold 51,332 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $13.51, for a total transaction of $693,495.32. Following the transaction, the director now directly owns 306,852 shares of the company’s stock, valued at $4,145,570.52. 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 the SEC website. Also, CFO Alan Taylor sold 3,560 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $10.39, for a total transaction of $36,988.40. Following the completion of the sale, the chief financial officer now owns 525,555 shares of the company’s stock, valued at $5,460,516.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,248 shares of company stock valued at $1,986,355. 36.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Weave Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC raised its position in shares of Weave Communications by 39.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 505,525 shares of the company’s stock worth $5,803,000 after purchasing an additional 143,382 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Weave Communications by 17.8% in the 2nd quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock worth $5,353,000 after acquiring an additional 89,600 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Weave Communications in the 1st quarter valued at about $1,816,000. Bailard Inc. acquired a new position in Weave Communications during the 2nd quarter valued at about $851,000. Finally, AXA S.A. bought a new stake in Weave Communications during the 2nd quarter worth approximately $11,590,000. 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.