Weave Communications (NYSE:WEAV) Reaches New 12-Month High – Here’s What Happened

Shares of Weave Communications, Inc. (NYSE:WEAV) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $14.34 and last traded at $14.23, with a volume of 683726 shares traded. The stock had previously closed at $14.00.

Wall Street Analyst Weigh In

A number of analysts have commented on WEAV shares. Loop Capital lifted their price target 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 raised their price target 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. Finally, Piper Sandler increased their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.50.

Weave Communications Stock Up 1.3 %

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $12.39 and a 200 day simple moving average of $10.59.

Insider Activity

In other news, COO Marcus Bertilson sold 15,000 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $10.67, for a total transaction of $160,050.00. Following the transaction, the chief operating officer now owns 337,682 shares of the company’s stock, valued at approximately $3,603,066.94. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Marcus Bertilson sold 15,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $10.67, for a total value of $160,050.00. Following the transaction, the chief operating officer now owns 337,682 shares of the company’s stock, valued at $3,603,066.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Blake G. Modersitzki sold 51,332 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $13.51, for a total value of $693,495.32. Following the completion of the sale, the director now owns 306,852 shares in the company, valued at approximately $4,145,570.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,106 shares of company stock worth $3,811,470 over the last ninety days. Corporate insiders own 36.30% of the company’s stock.

Institutional Trading of Weave Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted its holdings in shares of Weave Communications by 5.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock valued at $158,000 after purchasing an additional 896 shares during the last quarter. California State Teachers Retirement System lifted its stake in Weave Communications by 6.6% in the first quarter. California State Teachers Retirement System now owns 34,685 shares of the company’s stock valued at $398,000 after buying an additional 2,152 shares during the last quarter. ClariVest Asset Management LLC boosted its holdings in shares of Weave Communications by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company’s stock valued at $741,000 after acquiring an additional 2,298 shares during the period. AQR Capital Management LLC grew its position in shares of Weave Communications by 3.8% during the second quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock worth $620,000 after acquiring an additional 2,516 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Weave Communications by 48.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock valued at $90,000 after acquiring an additional 3,228 shares during the period. 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.