Bank of New York Mellon Corp Acquires 15,171 Shares of Weave Communications, Inc. (NYSE:WEAV)

Bank of New York Mellon Corp raised its holdings in shares of Weave Communications, Inc. (NYSE:WEAV) by 18.0% during the fourth quarter, HoldingsChannel reports. The fund owned 99,364 shares of the company’s stock after purchasing an additional 15,171 shares during the quarter. Bank of New York Mellon Corp’s holdings in Weave Communications were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its holdings in Weave Communications by 161.9% during the 3rd quarter. FMR LLC now owns 97,991 shares of the company’s stock valued at $1,254,000 after acquiring an additional 60,574 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Weave Communications by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 435,099 shares of the company’s stock valued at $5,569,000 after acquiring an additional 45,475 shares during the period. XTX Topco Ltd raised its holdings in Weave Communications by 429.2% during the 3rd quarter. XTX Topco Ltd now owns 56,016 shares of the company’s stock valued at $717,000 after acquiring an additional 45,430 shares during the period. Principal Financial Group Inc. raised its holdings in Weave Communications by 33.0% during the 4th quarter. Principal Financial Group Inc. now owns 119,351 shares of the company’s stock valued at $1,900,000 after acquiring an additional 29,583 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Weave Communications by 37.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 873,411 shares of the company’s stock valued at $11,180,000 after purchasing an additional 239,202 shares in the last quarter. Institutional investors own 86.83% of the company’s stock.

Weave Communications Stock Up 0.7 %

WEAV opened at $11.72 on Friday. The company has a fifty day moving average price of $14.60 and a 200-day moving average price of $14.00. The firm has a market capitalization of $865.81 million, a P/E ratio of -30.04 and a beta of 1.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.59 and a quick ratio of 1.59. Weave Communications, Inc. has a one year low of $8.10 and a one year high of $17.63.

Weave Communications (NYSE:WEAV) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.12). The firm had revenue of $54.17 million for the quarter, compared to analysts’ expectations of $53.23 million. Weave Communications had a negative net margin of 13.87% and a negative return on equity of 28.37%. Equities research analysts expect that Weave Communications, Inc. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Blake G. Modersitzki sold 84,764 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $16.49, for a total value of $1,397,758.36. Following the completion of the transaction, the director now directly owns 201,975 shares in the company, valued at approximately $3,330,567.75. The trade was a 29.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Alan Taylor sold 31,262 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $11.16, for a total transaction of $348,883.92. Following the completion of the transaction, the chief financial officer now owns 247,484 shares of the company’s stock, valued at $2,761,921.44. This trade represents a 11.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 682,086 shares of company stock worth $10,040,605. Corporate insiders own 36.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James restated a “strong-buy” rating and set a $20.00 price target (up from $17.00) on shares of Weave Communications in a research report on Friday, February 21st.

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.