Weave Communications (NYSE:WEAV) Reaches New 52-Week High – Here’s Why

Weave Communications, Inc. (NYSE:WEAV)’s stock price 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

A number of equities research analysts have weighed in on the company. Loop Capital upped their target price on Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on 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 objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $16.50.

Weave Communications Stock Performance

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 company has a fifty day simple moving average of $15.97 and a 200-day simple moving average of $13.55.

Insider Activity

In related news, CEO Brett T. White sold 54,778 shares of the company’s 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 transaction, the chief executive officer now directly owns 1,928,364 shares of the company’s stock, valued at approximately $30,583,853.04. The trade was a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Branden Neish sold 7,111 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.95, for a total value of $113,420.45. Following the completion of the sale, the insider now directly owns 512,122 shares of the company’s stock, valued at approximately $8,168,345.90. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,072,507 shares of company stock worth $16,387,138 over the last 90 days. 36.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Weave Communications by 161.9% during the third quarter. FMR LLC now owns 97,991 shares of the company’s stock worth $1,254,000 after acquiring an additional 60,574 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Weave Communications by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after purchasing an additional 45,475 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Weave Communications by 429.2% during the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock worth $717,000 after purchasing an additional 45,430 shares in the last quarter. Pathway Capital Management LP acquired a new stake in shares of Weave Communications during the 3rd quarter valued at about $7,308,000. Finally, Summit Global Investments bought a new stake in shares of Weave Communications in the 3rd quarter valued at approximately $460,000. Institutional investors and hedge funds own 86.83% of the company’s stock.

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.