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

Weave Communications, Inc. (NYSE:WEAV)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $17.45 and last traded at $17.43, with a volume of 841376 shares trading hands. The stock had previously closed at $17.21.

Wall Street Analyst Weigh In

Several brokerages have commented on WEAV. Piper Sandler boosted their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on Weave Communications from $13.00 to $14.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Loop Capital raised their price objective on Weave Communications from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One investment 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.50.

Weave Communications Trading Up 1.2 %

The business’s 50 day simple moving average is $15.85 and its two-hundred day simple moving average is $13.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.59 and a current ratio of 1.59.

Insiders Place Their Bets

In other Weave Communications news, Director Blake G. Modersitzki sold 120,551 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $13.90, for a total value of $1,675,658.90. Following the completion of the transaction, the director now directly owns 262,440 shares in the company, valued at approximately $3,647,916. This represents a 31.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brett T. White sold 54,778 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $15.86, for a total transaction of $868,779.08. Following the transaction, the chief executive officer now directly owns 1,928,364 shares of the company’s stock, valued at $30,583,853.04. The trade was a 2.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,098,552 shares of company stock valued at $16,718,903 in the last 90 days. Corporate insiders own 36.30% of the company’s stock.

Institutional Investors Weigh In On Weave Communications

A number of institutional investors have recently made changes to their positions in WEAV. FMR LLC raised its position in shares of Weave Communications by 161.9% during the third quarter. FMR LLC now owns 97,991 shares of the company’s stock worth $1,254,000 after acquiring an additional 60,574 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Weave Communications by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock worth $5,569,000 after purchasing an additional 45,475 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Weave Communications by 429.2% in the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock worth $717,000 after purchasing an additional 45,430 shares during the period. Pathway Capital Management LP acquired a new stake in shares of Weave Communications during the third quarter worth $7,308,000. Finally, Summit Global Investments bought a new position in Weave Communications during the third quarter worth $460,000. 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.