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

Weave Communications, Inc. (NYSE:WEAV) reached a new 52-week high on Wednesday . The company traded as high as $16.16 and last traded at $16.10, with a volume of 131591 shares changing hands. The stock had previously closed at $15.92.

Analyst Ratings Changes

Several research analysts have commented on the company. Piper Sandler lifted their target price on Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Loop Capital upped their target price on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their target price on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $16.50.

Weave Communications Trading Down 1.7 %

The firm has a 50-day moving average of $13.93 and a 200 day moving average of $11.59. The company has a market cap of $1.12 billion, a P/E ratio of -38.38 and a beta of 2.00. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09.

Insiders Place Their Bets

In related news, insider Branden Neish sold 7,111 shares of Weave Communications stock in a transaction on Monday, December 16th. The shares were 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 owns 512,122 shares of the company’s stock, valued at approximately $8,168,345.90. This trade represents a 1.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alan Taylor sold 12,044 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $16.15, for a total transaction of $194,510.60. Following the sale, the chief financial officer now owns 287,798 shares of the company’s stock, valued at $4,647,937.70. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,171,109 shares of company stock worth $16,976,744. Corporate insiders own 36.30% of the company’s stock.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. increased its holdings in Weave Communications by 5.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 17,496 shares of the company’s stock worth $158,000 after purchasing an additional 896 shares in the last quarter. ClariVest Asset Management LLC grew its holdings in Weave Communications by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 82,194 shares of the company’s stock worth $741,000 after buying an additional 2,298 shares in the last quarter. Truvestments Capital LLC raised its position in Weave Communications by 11.4% in the 3rd quarter. Truvestments Capital LLC now owns 23,422 shares of the company’s stock valued at $300,000 after buying an additional 2,405 shares during the last quarter. AQR Capital Management LLC lifted its stake in Weave Communications by 3.8% during the 2nd quarter. AQR Capital Management LLC now owns 68,687 shares of the company’s stock valued at $620,000 after acquiring an additional 2,516 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Weave Communications by 48.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,955 shares of the company’s stock worth $90,000 after acquiring an additional 3,228 shares during the last quarter. Institutional investors and hedge funds 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.