Bank of New York Mellon Corp purchased a new stake in Weave Communications, Inc. (NYSE:WEAV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 755,535 shares of the company's stock, valued at approximately $4,526,000. Bank of New York Mellon Corp owned 0.95% of Weave Communications as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new position in Weave Communications during the fourth quarter worth about $26,000. Optiver Holding B.V. lifted its holdings in shares of Weave Communications by 1,201.2% during the 1st quarter. Optiver Holding B.V. now owns 7,339 shares of the company's stock valued at $34,000 after purchasing an additional 6,775 shares in the last quarter. Amundi lifted its holdings in shares of Weave Communications by 27.1% during the 1st quarter. Amundi now owns 5,301 shares of the company's stock valued at $59,000 after purchasing an additional 1,130 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of Weave Communications in the 2nd quarter valued at approximately $60,000. Finally, CWM LLC increased its stake in Weave Communications by 1,125.6% during the 4th quarter. CWM LLC now owns 9,033 shares of the company's stock worth $69,000 after purchasing an additional 8,296 shares in the last quarter. Institutional investors own 86.83% of the company's stock.
Weave Communications Price Performance
Shares of NYSE WEAV opened at $7.34 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.09. The company has a market cap of $587.20 million, a PE ratio of -29.36 and a beta of 1.69. Weave Communications, Inc. has a twelve month low of $4.24 and a twelve month high of $8.00. The business's 50 day moving average price is $6.69 and its two-hundred day moving average price is $5.77.
Weave Communications (NYSE:WEAV - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $67.54 million during the quarter, compared to analysts' expectations of $67.88 million. Weave Communications had a negative return on equity of 21.14% and a negative net margin of 7.97%. On average, analysts predict that Weave Communications, Inc. will post -0.22 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Loop Capital lowered shares of Weave Communications from a "buy" rating to a "hold" rating and set a $7.40 price target on the stock. in a research note on Wednesday, August 19th. Wall Street Zen downgraded shares of Weave Communications from a "buy" rating to a "hold" rating in a research report on Sunday, August 23rd. Piper Sandler lowered shares of Weave Communications from an "overweight" rating to a "hold" rating and dropped their price objective for the stock from $8.00 to $7.40 in a report on Tuesday, August 18th. B. Riley Financial cut shares of Weave Communications from a "buy" rating to a "hold" rating and cut their price objective for the company from $8.25 to $7.40 in a research report on Wednesday, August 19th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Weave Communications in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Weave Communications currently has an average rating of "Hold" and a consensus price target of $7.84.
Check Out Our Latest Research Report on Weave Communications
About Weave Communications
(
Free Report)
Weave Communications is a technology company that provides integrated communications and customer management solutions tailored for small- to medium-sized local businesses. Headquartered in Lehi, Utah, the company developed a cloud-based platform that unifies voice calling, business texting, appointment reminders and payment processing within a single interface.
The platform's core offerings include a unified business phone system, two-way texting, automated appointment and recall reminders, secure payment acceptance and a basic customer relationship management module.
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