Bank of America Corp DE Boosts Holdings in Weave Communications, Inc. (NYSE:WEAV)

Bank of America Corp DE grew its holdings in shares of Weave Communications, Inc. (NYSE:WEAV - Free Report) by 60.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 313,080 shares of the company's stock after purchasing an additional 117,525 shares during the period. Bank of America Corp DE owned approximately 0.43% of Weave Communications worth $4,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WEAV. Wasatch Advisors LP lifted its stake in Weave Communications by 38.4% in the 4th quarter. Wasatch Advisors LP now owns 5,205,665 shares of the company's stock valued at $82,874,000 after buying an additional 1,444,828 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings 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 valued at $26,280,000 after purchasing an additional 1,105,728 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Weave Communications in the 4th quarter valued at $14,984,000. Voya Investment Management LLC increased its holdings in Weave Communications by 509.2% in the 4th quarter. Voya Investment Management LLC now owns 1,099,255 shares of the company's stock valued at $17,500,000 after purchasing an additional 918,804 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Weave Communications by 23.5% in the 4th quarter. Vanguard Group Inc. now owns 4,536,462 shares of the company's stock valued at $72,220,000 after purchasing an additional 863,547 shares in the last quarter. Institutional investors and hedge funds own 86.83% of the company's stock.

Wall Street Analyst Weigh In

WEAV has been the subject of several recent analyst reports. Piper Sandler raised their target price on Weave Communications from $14.00 to $15.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their target price 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. Finally, Raymond James cut their price target 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 equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $16.10.

Insider Buying and Selling at Weave Communications

In other news, insider Branden Neish sold 20,232 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $10.23, for a total transaction of $206,973.36. Following the completion of the sale, the insider now owns 526,011 shares of the company's stock, valued at approximately $5,381,092.53. This represents a 3.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brett T. White sold 109,722 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $11.26, for a total transaction of $1,235,469.72. Following the transaction, the chief executive officer now owns 1,790,435 shares of the company's stock, valued at approximately $20,160,298.10. This represents a 5.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 320,014 shares of company stock valued at $3,522,274. 18.40% of the stock is currently owned by insiders.

Weave Communications Stock Down 2.8%

Weave Communications stock traded down $0.28 during mid-day trading on Monday, hitting $9.38. 823,245 shares of the company's stock were exchanged, compared to its average volume of 754,972. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.09. The stock has a market cap of $704.83 million, a P/E ratio of -24.04 and a beta of 1.97. Weave Communications, Inc. has a 1-year low of $8.18 and a 1-year high of $17.63. The stock has a 50 day moving average of $10.08 and a two-hundred day moving average of $13.10.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). The business had revenue of $55.81 million during the quarter, compared to analyst estimates of $54.72 million. Weave Communications had a negative return on equity of 28.37% and a negative net margin of 13.87%. As a group, analysts anticipate that Weave Communications, Inc. will post -0.33 EPS for the current fiscal year.

Weave Communications 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.