Weave Communications (NYSE:WEAV) Reaches New 52-Week High – What’s Next?

Shares of Weave Communications, Inc. (NYSE:WEAV) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.85 and last traded at $13.73, with a volume of 777970 shares trading hands. The stock had previously closed at $13.50.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their target price on Weave Communications from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st.

Weave Communications Stock Performance

The firm’s 50 day moving average is $12.05 and its 200-day moving average is $10.46. The stock has a market capitalization of $991.02 million, a price-to-earnings ratio of -32.81 and a beta of 2.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.64 and a current ratio of 1.64.

Insiders Place Their Bets

In related news, CFO Alan Taylor sold 3,560 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $10.39, for a total value of $36,988.40. Following the completion of the transaction, the chief financial officer now owns 525,555 shares of the company’s stock, valued at approximately $5,460,516.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Weave Communications news, CFO Alan Taylor sold 3,560 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $10.39, for a total transaction of $36,988.40. Following the completion of the transaction, the chief financial officer now directly owns 525,555 shares in the company, valued at approximately $5,460,516.45. 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 accessible through this hyperlink. Also, Director Blake G. Modersitzki sold 51,332 shares of Weave Communications stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $13.51, for a total transaction of $693,495.32. Following the completion of the sale, the director now owns 306,852 shares in the company, valued at approximately $4,145,570.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,848 shares of company stock worth $1,980,871. Company insiders own 36.30% of the company’s stock.

Hedge Funds Weigh In On Weave Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Weave Communications during the 3rd quarter valued at approximately $1,904,000. US Bancorp DE acquired a new stake in shares of Weave Communications during the third quarter valued at about $107,000. Raymond James & Associates raised its position in Weave Communications by 66.8% in the third quarter. Raymond James & Associates now owns 233,534 shares of the company’s stock valued at $2,989,000 after purchasing an additional 93,519 shares during the period. nVerses Capital LLC acquired a new position in Weave Communications during the third quarter worth $45,000. Finally, SG Americas Securities LLC purchased a new position in shares of Weave Communications during the third quarter worth $193,000. 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.