Weave Communications (NYSE:WEAV) Reaches New 12-Month High – Still a Buy?

Weave Communications, Inc. (NYSE:WEAV)’s stock price hit a new 52-week high on Wednesday . The company 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 Upgrades and Downgrades

A number of analysts have recently issued reports on WEAV shares. The Goldman Sachs Group raised their price target on shares of Weave Communications from $13.00 to $14.50 and gave the company a “neutral” rating in a report on Friday. Loop Capital raised their target price on shares of Weave Communications from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Sandler increased their target price on Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $16.50.

Weave Communications Trading Down 6.4 %

The company has a market capitalization of $942.15 million, a P/E ratio of -33.10 and a beta of 2.10. The stock has a 50 day moving average of $12.17 and a 200-day moving average of $10.51. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.09.

Insider Transactions at Weave Communications

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 owns 421,847 shares of the company’s stock, valued at $5,484,011. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Marcus Bertilson sold 15,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $10.67, for a total transaction of $160,050.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alan Taylor sold 2,638 shares of Weave Communications stock in a transaction on Monday, October 7th. The stock was sold at an average price of $13.00, for a total transaction of $34,294.00. Following the completion of the transaction, the chief financial officer now directly owns 421,847 shares of the company’s stock, valued at $5,484,011. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,248 shares of company stock valued at $1,986,355 over the last three months. Corporate insiders own 36.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Weave Communications by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 3,342,681 shares of the company’s stock valued at $38,374,000 after purchasing an additional 312,392 shares during the last quarter. AXA S.A. bought a new stake in Weave Communications in the second quarter worth $11,590,000. Acadian Asset Management LLC boosted its stake in Weave Communications by 1.0% during the first quarter. Acadian Asset Management LLC now owns 784,270 shares of the company’s stock worth $9,002,000 after buying an additional 7,511 shares during the period. Renaissance Technologies LLC increased 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 acquiring an additional 89,600 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Weave Communications by 39.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 505,525 shares of the company’s stock valued at $5,803,000 after acquiring an additional 143,382 shares during the period. 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.