325 Capital LLC Takes $15.17 Million Position in Spire Global, Inc. $SPIR

Key Points

• 325 Capital LLC acquired 1,875,000 shares of Spire Global, valued at approximately $15.17 million, making it the firm's 8th largest position.
• Several large investors, including the Royal Bank of Canada, have increased or established new stakes in Spire Global during the 1st quarter.
• Spire Global's stock has a current price target of $13.00 from Robert W. Baird, who rates the stock as “neutral” with an average rating of “Moderate Buy” from analysts.

325 Capital LLC purchased a new stake in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,875,000 shares of the company's stock, valued at approximately $15,169,000. Spire Global comprises approximately 6.3% of 325 Capital LLC's investment portfolio, making the stock its 8th largest holding. 325 Capital LLC owned 6.05% of Spire Global at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of Spire Global in the 4th quarter worth approximately $42,000. Johnson Investment Counsel Inc. bought a new position in Spire Global during the 1st quarter valued at approximately $99,000. Deutsche Bank AG increased its position in Spire Global by 22.0% during the 1st quarter. Deutsche Bank AG now owns 14,143 shares of the company's stock valued at $114,000 after buying an additional 2,554 shares in the last quarter. Walleye Capital LLC bought a new position in Spire Global during the 1st quarter valued at approximately $140,000. Finally, JPMorgan Chase & Co. increased its position in Spire Global by 6.1% during the 4th quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company's stock valued at $147,000 after buying an additional 597 shares in the last quarter. Institutional investors own 19.97% of the company's stock.

Spire Global Trading Up 1.1%

NYSE SPIR traded up $0.10 on Friday, hitting $8.86. 529,885 shares of the company traded hands, compared to its average volume of 576,600. The company has a market capitalization of $275.31 million, a price-to-earnings ratio of -2.55 and a beta of 2.38. The business's 50 day moving average price is $10.35 and its 200-day moving average price is $10.12. Spire Global, Inc. has a 52-week low of $6.85 and a 52-week high of $21.43.

Wall Street Analyst Weigh In

Separately, Robert W. Baird raised their price objective on Spire Global from $11.00 to $13.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.20.

Insider Activity

In related news, Director Stephen Messer sold 16,660 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $10.85, for a total value of $180,761.00. Following the sale, the director directly owned 82,062 shares in the company, valued at approximately $890,372.70. The trade was a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Peter Platzer sold 130,191 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $12.25, for a total value of $1,594,839.75. Following the completion of the sale, the chairman owned 1,614,199 shares in the company, valued at $19,773,937.75. This represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,557 shares of company stock worth $2,259,464 over the last 90 days. Company insiders own 14.68% of the company's stock.

Spire Global Profile

Spire Global, Inc provides subscription-based data, insights, predictive analytics, and related project-based services worldwide. The company offers satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; data, insights, and predictive analytics for highly accurate ship monitoring, real-time and near real-time vessel updates, port operations, ship safety and route optimization; and space-based data, AI-powered insights, and predictive weather analytics for accurate weather forecasting.