Bank of New York Mellon Corp Has $6.33 Million Holdings in Weave Communications, Inc. (NYSE:WEAV)

Bank of New York Mellon Corp raised its holdings in Weave Communications, Inc. (NYSE:WEAV) by 474.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 570,810 shares of the company’s stock after buying an additional 471,446 shares during the quarter. Bank of New York Mellon Corp owned 0.76% of Weave Communications worth $6,330,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WEAV. Wasatch Advisors LP boosted its holdings in Weave Communications by 38.4% in the fourth quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company’s stock worth $82,874,000 after acquiring an additional 1,444,828 shares in the last quarter. Vanguard Group Inc. boosted its stake in Weave Communications by 23.5% in the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company’s stock worth $72,220,000 after purchasing an additional 863,547 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Weave Communications by 202.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,650,760 shares of the company’s stock worth $26,280,000 after purchasing an additional 1,105,728 shares in the last quarter. AXA S.A. boosted its stake in Weave Communications by 0.7% in the 4th quarter. AXA S.A. now owns 1,294,281 shares of the company’s stock worth $20,605,000 after purchasing an additional 9,365 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in Weave Communications by 26.0% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,100,179 shares of the company’s stock worth $17,515,000 after purchasing an additional 226,768 shares in the last quarter. 86.83% of the stock is owned by institutional investors and hedge funds.

Weave Communications Price Performance

NYSE:WEAV opened at $8.15 on Thursday. Weave Communications, Inc. has a 12 month low of $7.25 and a 12 month high of $17.63. The stock has a 50 day moving average of $8.87 and a two-hundred day moving average of $11.47. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.10. The firm has a market cap of $612.34 million, a P/E ratio of -19.87 and a beta of 1.76.

Weave Communications (NYSE:WEAV) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.12). The company had revenue of $55.81 million during the quarter, compared to analysts’ expectations of $54.72 million. Weave Communications had a negative net margin of 14.07% and a negative return on equity of 31.08%. On average, analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WEAV has been the subject of a number of research reports. Stifel Nicolaus dropped their price target on Weave Communications from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Piper Sandler increased their price target on Weave Communications from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Raymond James Financial reduced their price objective on Weave Communications from $20.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 29th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $16.10.

Insider Buying and Selling at Weave Communications

In other Weave Communications news, CEO Brett T. White sold 54,051 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $10.23, for a total value of $552,941.73. Following the sale, the chief executive officer directly owned 2,086,384 shares in the company, valued at $21,343,708.32. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Marcus Bertilson sold 11,409 shares of Weave Communications stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $8.53, for a total value of $97,318.77. Following the sale, the chief operating officer owned 352,093 shares in the company, valued at $3,003,353.29. This trade represents a 3.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,577 shares of company stock valued at $1,499,638. Corporate insiders own 18.40% of the company’s stock.

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.