325 Capital LLC Invests $15.17 Million 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 position in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 biggest holding. 325 Capital LLC owned approximately 6.05% of Spire Global as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Spire Global by 164.6% during the 1st quarter. Royal Bank of Canada now owns 46,728 shares of the company's stock worth $378,000 after buying an additional 29,066 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Spire Global during the first quarter valued at approximately $140,000. Jump Financial LLC increased its position in shares of Spire Global by 20.4% during the first quarter. Jump Financial LLC now owns 215,219 shares of the company's stock valued at $1,741,000 after acquiring an additional 36,405 shares during the last quarter. Resolute Advisors LLC bought a new stake in Spire Global during the first quarter worth $186,000. Finally, Nuveen LLC purchased a new position in Spire Global in the first quarter worth $331,000. 19.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Spire Global Stock Performance

NYSE SPIR traded up $0.10 on Friday, hitting $8.86. 529,885 shares of the stock traded hands, compared to its average volume of 576,600. The business's fifty day moving average is $10.35 and its two-hundred day moving average is $10.10. Spire Global, Inc. has a 12 month low of $6.85 and a 12 month high of $21.43. The firm has a market capitalization of $275.31 million, a price-to-earnings ratio of -2.55 and a beta of 2.38.

Insiders Place Their Bets

In other Spire Global news, Director Stephen Messer sold 16,660 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $10.85, for a total transaction of $180,761.00. Following the sale, the director directly owned 82,062 shares of the company's stock, valued at $890,372.70. This represents a 16.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Peter Platzer sold 130,191 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $12.25, for a total transaction of $1,594,839.75. Following the transaction, the chairman owned 1,614,199 shares of the company's stock, valued at $19,773,937.75. This represents a 7.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,557 shares of company stock worth $2,259,464 in the last ninety days. 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.