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

Weave Communications, Inc. (NYSE:WEAV) hit a new 52-week high on Tuesday . The company traded as high as $17.45 and last traded at $17.43, with a volume of 841376 shares traded. The stock had previously closed at $17.21.

Wall Street Analyst Weigh In

Several analysts have issued reports on WEAV shares. Piper Sandler upped their price objective on 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 increased their price target on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $16.50.

Weave Communications Price Performance

The business has a fifty day moving average price of $15.85 and a 200-day moving average price of $13.48. 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 Activity at Weave Communications

In other news, CEO Brett T. White sold 54,778 shares of Weave Communications stock in a transaction on 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 of the company’s stock, valued at approximately $30,583,853.04. This trade represents a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Blake G. Modersitzki sold 37,760 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $14.20, for a total transaction of $536,192.00. Following the completion of the transaction, the director now owns 282,568 shares in the company, valued at $4,012,465.60. This trade represents a 11.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,098,552 shares of company stock worth $16,718,903 in the last ninety days. 36.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its stake 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 buying an additional 2,516 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Weave Communications by 26.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,923 shares of the company’s stock valued at $144,000 after acquiring an additional 3,315 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Weave Communications during the 3rd quarter worth $193,000. nVerses Capital LLC bought a new position in shares of Weave Communications in the third quarter worth $45,000. Finally, Raymond James & Associates raised its stake in Weave Communications by 66.8% in the third quarter. Raymond James & Associates now owns 233,534 shares of the company’s stock valued at $2,989,000 after purchasing an additional 93,519 shares in the last quarter. 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.