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

Weave Communications, Inc. (NYSE:WEAV) hit a new 52-week high on Friday . The company traded as high as $14.59 and last traded at $14.49, with a volume of 789089 shares. The stock had previously closed at $13.95.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price 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. Loop Capital increased their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their target price on Weave Communications from $16.00 to $17.00 and gave the stock 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 given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Weave Communications has a consensus rating of “Buy” and a consensus target price of $16.50.

Weave Communications Trading Up 5.3 %

The business’s 50 day simple moving average is $13.51 and its 200-day simple moving average is $11.22. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09.

Insider Transactions at Weave Communications

In other news, Director Blake G. Modersitzki sold 120,551 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $13.90, for a total value of $1,675,658.90. Following the completion of the sale, the director now directly owns 262,440 shares of the company’s stock, valued at $3,647,916. This represents a 31.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Alan Taylor sold 13,295 shares of Weave Communications stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $11.03, for a total transaction of $146,643.85. Following the transaction, the chief financial officer now directly owns 475,941 shares in the company, valued at $5,249,629.23. The trade was a 2.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,792 shares of company stock worth $8,433,068 in the last three months. Insiders own 36.30% of the company’s stock.

Institutional Trading of Weave Communications

A number of large investors have recently made changes to their positions in WEAV. nVerses Capital LLC bought a new position in Weave Communications during the third quarter worth about $45,000. Quarry LP bought a new position in shares of Weave Communications during the 3rd quarter valued at about $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 purchasing an additional 3,228 shares during the period. Private Management Group Inc. bought a new stake in Weave Communications during the 2nd quarter worth approximately $90,000. Finally, US Bancorp DE acquired a new stake in Weave Communications during the 3rd quarter worth approximately $107,000. 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.