Bank of New York Mellon Corp Purchases 471,446 Shares of Weave Communications, Inc. (NYSE:WEAV)

Bank of New York Mellon Corp grew its position in Weave Communications, Inc. (NYSE:WEAV - Free Report) by 474.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 570,810 shares of the company's stock after acquiring 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 SEC.

Other large investors have also recently bought and sold shares of the company. Aquatic Capital Management LLC acquired a new position in Weave Communications during the 4th quarter worth about $34,000. Summit Investment Advisors Inc. raised its position in shares of Weave Communications by 28.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,143 shares of the company's stock worth $66,000 after acquiring an additional 928 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Weave Communications during the fourth quarter worth about $131,000. Cerity Partners LLC bought a new position in shares of Weave Communications during the fourth quarter worth about $159,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Weave Communications by 5.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,903 shares of the company's stock worth $174,000 after acquiring an additional 597 shares during the last quarter. 86.83% of the stock is currently owned by institutional investors.

Insider Activity

In other Weave Communications news, CRO Joseph David Mcneil sold 14,302 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $8.53, for a total transaction of $121,996.06. Following the completion of the transaction, the executive owned 409,060 shares in the company, valued at $3,489,281.80. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,577 shares of company stock worth $1,499,638. 18.40% of the stock is owned by insiders.

Weave Communications Stock Down 2.2%

WEAV traded down $0.17 during midday trading on Friday, hitting $7.73. The company had a trading volume of 587,767 shares, compared to its average volume of 990,520. Weave Communications, Inc. has a 52 week low of $7.25 and a 52 week high of $17.63. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $581.07 million, a price-to-earnings ratio of -18.85 and a beta of 1.76. The stock's 50 day moving average price is $8.75 and its 200 day moving average price is $11.33.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WEAV. Piper Sandler lifted their target price on shares of Weave Communications from $14.00 to $15.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Stifel Nicolaus lowered their price objective on Weave Communications from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Raymond James Financial lowered their price objective on Weave Communications from $20.00 to $17.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $16.10.

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.