Weave Communications (NYSE:WEAV) Hits New 52-Week High – Should You Buy?

Shares of Weave Communications, Inc. (NYSE:WEAV) reached a new 52-week high on Wednesday . The stock traded as high as $13.85 and last traded at $13.73, with a volume of 777970 shares traded. The stock had previously closed at $13.50.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday. Loop Capital lifted their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group increased their target price on Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.50.

Weave Communications Price Performance

The stock has a market cap of $942.15 million, a PE ratio of -33.10 and a beta of 2.10. The business’s 50-day simple moving average is $12.17 and its 200-day simple moving average is $10.51. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.09.

Insider Buying and Selling

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

Hedge Funds Weigh In On Weave Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in WEAV. Silvercrest Asset Management Group LLC increased its stake in shares of Weave Communications by 39.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 505,525 shares of the company’s stock worth $5,803,000 after acquiring an additional 143,382 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Weave Communications by 17.8% during the second quarter. Renaissance Technologies LLC now owns 593,500 shares of the company’s stock valued at $5,353,000 after purchasing an additional 89,600 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Weave Communications in the 1st quarter worth approximately $1,816,000. Bailard Inc. purchased a new stake in shares of Weave Communications in the 2nd quarter worth approximately $851,000. Finally, AXA S.A. bought a new position in Weave Communications during the 2nd quarter valued at approximately $11,590,000. Hedge funds and other 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.