Weave Communications (NYSE:WEAV) Sets New 1-Year High – Here’s What Happened

Weave Communications, Inc. (NYSE:WEAV) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $17.70 and last traded at $17.36, with a volume of 953 shares changing hands. The stock had previously closed at $17.38.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective 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. Loop Capital lifted their price objective on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Piper Sandler lifted their price objective 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 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.50.

Weave Communications Stock Down 0.5 %

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 firm’s 50 day moving average is $16.22 and its two-hundred day moving average is $13.79. The firm has a market capitalization of $1.23 billion, a P/E ratio of -42.36 and a beta of 1.91.

Weave Communications (NYSE:WEAV) last released its earnings results on Thursday, February 20th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative net margin of 14.64% and a negative return on equity of 28.01%. Research analysts predict that Weave Communications, Inc. will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other Weave Communications news, insider Branden Neish sold 7,111 shares of Weave Communications stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.95, for a total transaction of $113,420.45. Following the completion of the transaction, the insider now directly owns 512,122 shares of the company’s stock, valued at $8,168,345.90. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Blake G. Modersitzki sold 74,756 shares of Weave Communications stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $17.49, for a total transaction of $1,307,482.44. Following the transaction, the director now directly owns 179,153 shares of the company’s stock, valued at approximately $3,133,385.97. This trade represents a 29.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,190,043 shares of company stock valued at $18,442,044 over the last ninety days. 36.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Weave Communications by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company’s stock valued at $174,000 after acquiring an additional 597 shares during the period. MetLife Investment Management LLC boosted its position in shares of Weave Communications by 2.6% in the fourth quarter. MetLife Investment Management LLC now owns 24,387 shares of the company’s stock valued at $388,000 after acquiring an additional 620 shares during the period. US Bancorp DE boosted its position in shares of Weave Communications by 8.4% in the fourth quarter. US Bancorp DE now owns 9,053 shares of the company’s stock valued at $144,000 after acquiring an additional 703 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Weave Communications by 28.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after acquiring an additional 928 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Weave Communications by 0.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock valued at $2,383,000 after acquiring an additional 937 shares during the period. 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.