Weave Communications (NYSE:WEAV) Sets New 52-Week High – Still a Buy?

Weave Communications, Inc. (NYSE:WEAV) reached a new 52-week high on Tuesday . The stock traded as high as $16.56 and last traded at $16.19, with a volume of 1189801 shares. The stock had previously closed at $16.12.

Analyst Ratings Changes

Several brokerages have commented on WEAV. 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 note on Thursday, October 31st. The Goldman Sachs Group upped their price objective 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, Loop Capital raised their target price on shares of Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $16.50.

Weave Communications Stock Performance

The firm has a market cap of $1.17 billion, a PE ratio of -40.03 and a beta of 2.00. The company has a 50-day simple moving average of $14.20 and a two-hundred day simple moving average of $11.85. 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 Buying and Selling

In other news, CFO Alan Taylor sold 2,638 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $13.00, for a total value of $34,294.00. Following the completion of the transaction, the chief financial officer now directly owns 421,847 shares in the company, valued at approximately $5,484,011. This represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Branden Neish sold 7,111 shares of Weave Communications stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.95, for a total transaction of $113,420.45. Following the completion of the transaction, the insider now owns 512,122 shares in the company, valued at approximately $8,168,345.90. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,175,291 shares of company stock valued at $17,043,781. Corporate insiders own 36.30% of the company’s stock.

Hedge Funds Weigh In On Weave Communications

A number of hedge funds have recently bought and sold shares of WEAV. FMR LLC grew its stake in shares of Weave Communications by 161.9% during the 3rd quarter. FMR LLC now owns 97,991 shares of the company’s stock valued at $1,254,000 after purchasing an additional 60,574 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Weave Communications by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after buying an additional 45,475 shares during the last quarter. Renaissance Technologies LLC grew its position in 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 buying an additional 89,600 shares during the period. XTX Topco Ltd increased its holdings in Weave Communications by 429.2% during the third quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock valued at $717,000 after buying an additional 45,430 shares during the last quarter. Finally, Summit Global Investments bought a new position in Weave Communications in the third quarter worth approximately $460,000. Hedge funds and other institutional investors 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.