Weave Communications (NYSE:WEAV) Hits New 52-Week High at $13.80

Shares of Weave Communications, Inc. (NYSE:WEAVGet Free Report) hit a new 52-week high on Friday . The stock traded as high as $13.80 and last traded at $13.60, with a volume of 499934 shares trading hands. The stock had previously closed at $13.02.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upgraded Weave Communications from a “neutral” rating to an “overweight” rating and increased their target price for the company from $8.00 to $15.00 in a research note on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

View Our Latest Report on WEAV

Weave Communications Stock Performance

The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $930.90 million, a price-to-earnings ratio of -27.35 and a beta of 2.37. The company has a 50-day moving average of $11.54 and a 200-day moving average of $9.86.

Insider Activity at Weave Communications

In related news, CFO Alan Taylor sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $12.00, for a total transaction of $180,000.00. Following the sale, the chief financial officer now directly owns 480,813 shares of the company’s stock, valued at approximately $5,769,756. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 41.00% of the company’s stock.

Institutional Investors Weigh In On Weave Communications

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in shares of Weave Communications by 28.2% during the 2nd quarter. Lazard Asset Management LLC now owns 5,722 shares of the company’s stock worth $63,000 after buying an additional 1,260 shares in the last quarter. Rhumbline Advisers raised its holdings in Weave Communications by 3.5% during the third quarter. Rhumbline Advisers now owns 39,838 shares of the company’s stock worth $325,000 after purchasing an additional 1,349 shares in the last quarter. Federated Hermes Inc. raised its holdings in Weave Communications by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 462,704 shares of the company’s stock worth $5,307,000 after purchasing an additional 1,397 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Weave Communications by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 83,683 shares of the company’s stock worth $383,000 after purchasing an additional 2,257 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Weave Communications by 29.2% during the fourth quarter. New York State Common Retirement Fund now owns 10,683 shares of the company’s stock worth $123,000 after purchasing an additional 2,415 shares in the last quarter. 64.04% of the stock is owned by institutional investors and hedge funds.

About Weave Communications

(Get Free Report)

Weave Communications, Inc provides a customer communications and engagement software platform in the United States and Canada. Its platform enables small and medium-sized businesses to maximize the value of their customer interactions and minimize the time and effort spent on manual or mundane tasks.

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