Weave Communications, Inc. (NYSE:WEAV) Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 474.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 570,810 shares of the company's stock after purchasing an additional 471,446 shares during the period. Bank of New York Mellon Corp owned 0.76% of Weave Communications worth $6,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Weave Communications by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company's stock valued at $174,000 after acquiring an additional 597 shares during the period. MetLife Investment Management LLC lifted its stake in Weave Communications by 2.6% during the 4th quarter. MetLife Investment Management LLC now owns 24,387 shares of the company's stock valued at $388,000 after acquiring an additional 620 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Weave Communications by 28.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock valued at $66,000 after purchasing an additional 928 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Weave Communications by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,461 shares of the company's stock valued at $358,000 after purchasing an additional 988 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Weave Communications by 7.1% during the 4th quarter. Russell Investments Group Ltd. now owns 25,031 shares of the company's stock valued at $398,000 after purchasing an additional 1,658 shares in the last quarter. 86.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Weave Communications

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WEAV shares. Raymond James Financial cut their price target on shares of Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th. Piper Sandler boosted their price target on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their price objective on shares of Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Weave Communications currently has a consensus rating of "Buy" and a consensus target price of $16.10.

Weave Communications Stock Down 2.2%

Shares of WEAV traded down $0.17 during mid-day trading on Friday, hitting $7.73. 587,767 shares of the company's stock were exchanged, compared to its average volume of 914,422. The stock's 50-day moving average is $8.81 and its 200-day moving average is $11.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.60 and a current ratio of 1.60. Weave Communications, Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $17.63. The company has a market cap of $581.07 million, a price-to-earnings ratio of -18.85 and a beta of 1.76.

Weave Communications (NYSE:WEAV - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). The firm 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, sell-side analysts anticipate that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

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.