Weave Communications (NYSE:WEAV) Sets New 1-Year High – Here’s What Happened

Shares of Weave Communications, Inc. (NYSE:WEAV) reached a new 52-week high during trading on Tuesday . The company traded as high as $17.70 and last traded at $17.36, with a volume of 953 shares trading hands. The stock had previously closed at $17.38.

Wall Street Analysts Forecast Growth

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

Weave Communications Stock Performance

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -42.36 and a beta of 1.91. The company has a 50 day simple moving average of $16.22 and a 200 day simple moving average of $13.79.

Weave Communications (NYSE:WEAV) last issued its earnings results on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.12). Weave Communications had a negative return on equity of 28.01% and a negative net margin of 14.64%. As a group, equities research analysts forecast that Weave Communications, Inc. will post -0.38 EPS for the current year.

Insider Transactions at Weave Communications

In other news, CFO Alan Taylor sold 4,182 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $16.03, for a total transaction of $67,037.46. Following the sale, the chief financial officer now directly owns 283,516 shares in the company, valued at approximately $4,544,761.48. The trade was a 1.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brett T. White sold 54,778 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $15.86, for a total value of $868,779.08. Following the sale, the chief executive officer now owns 1,928,364 shares in the company, valued at approximately $30,583,853.04. This trade represents a 2.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,190,043 shares of company stock worth $18,442,044. Insiders own 36.30% of the company’s stock.

Institutional Trading of Weave Communications

Several hedge funds and other institutional investors have recently made changes to their positions in WEAV. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Weave Communications by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company’s stock valued at $174,000 after acquiring an additional 597 shares during the last quarter. MetLife Investment Management LLC increased its position in Weave Communications by 2.6% during the 4th quarter. MetLife Investment Management LLC now owns 24,387 shares of the company’s stock valued at $388,000 after purchasing an additional 620 shares during the period. US Bancorp DE increased its position in Weave Communications by 8.4% during the 4th quarter. US Bancorp DE now owns 9,053 shares of the company’s stock valued at $144,000 after purchasing an additional 703 shares during the period. Summit Investment Advisors Inc. increased its position in Weave Communications by 28.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company’s stock valued at $66,000 after purchasing an additional 928 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in Weave Communications by 0.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 149,715 shares of the company’s stock valued at $2,383,000 after purchasing an additional 937 shares during the period. 86.83% of the stock is currently owned by institutional investors.

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.