Weave Communications (NYSE:WEAV) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Weave Communications, Inc. (NYSE:WEAV) saw unusually-high trading volume on Thursday after Loop Capital raised their price target on the stock from $15.00 to $18.00. Loop Capital currently has a buy rating on the stock. Approximately 1,024,351 shares were traded during mid-day trading, an increase of 132% from the previous session’s volume of 441,899 shares.The stock last traded at $13.88 and had previously closed at $13.79.

Separately, Piper Sandler raised their price objective on shares of Weave Communications from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday.

Insider Activity at Weave Communications

In other Weave Communications news, CFO Alan Taylor sold 3,560 shares of the stock in a transaction on Friday, September 13th. The stock was 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 $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 can be accessed through this link. In other news, COO Marcus Bertilson sold 15,000 shares of Weave Communications stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $10.67, for a total value of $160,050.00. Following the completion of the transaction, the chief operating officer now owns 337,682 shares in the company, valued at approximately $3,603,066.94. The trade was 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 link. Also, CFO Alan Taylor sold 3,560 shares of the business’s stock in a transaction that occurred on 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 directly owns 525,555 shares in the company, valued at $5,460,516.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,248 shares of company stock valued at $1,986,355 in the last 90 days. 36.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Weave Communications

Several institutional investors have recently bought and sold shares of WEAV. Principal Financial Group Inc. increased its stake in shares of Weave Communications by 139.0% in the third quarter. Principal Financial Group Inc. now owns 89,768 shares of the company’s stock valued at $1,149,000 after buying an additional 52,210 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Weave Communications in the 3rd quarter valued at about $1,904,000. US Bancorp DE acquired a new stake in Weave Communications in the 3rd quarter valued at about $107,000. Raymond James & Associates raised its stake in shares of Weave Communications by 66.8% in the third quarter. Raymond James & Associates now owns 233,534 shares of the company’s stock worth $2,989,000 after acquiring an additional 93,519 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Weave Communications during the third quarter worth approximately $45,000. Institutional investors own 86.83% of the company’s stock.

Weave Communications Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.64 and a quick ratio of 1.64. The company’s 50 day moving average price is $12.10 and its 200 day moving average price is $10.48. The firm has a market capitalization of $1.01 billion, a P/E ratio of -34.00 and a beta of 2.10.

Weave Communications Company Profile

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.