Alyeska Investment Group L.P. Buys Shares of 1,250,000 Spire Global, Inc. $SPIR

Key Points

• Alyeska Investment Group L.P. acquired 1,250,000 shares of Spire Global, Inc., valuing approximately $10,056,000, representing 4.04% of the company's stock.
• Wall Street analysts have a consensus rating of "Moderate Buy" on Spire Global with an average price target of $18.20.
• Insider trading shows that Chairman Peter Platzer sold 130,191 shares for approximately $1.59 million, reducing his ownership by 7.46%.

Alyeska Investment Group L.P. acquired a new position in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,250,000 shares of the company's stock, valued at approximately $10,056,000. Alyeska Investment Group L.P. owned 4.04% of Spire Global as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SPIR. BNP Paribas Financial Markets acquired a new stake in shares of Spire Global in the fourth quarter valued at about $42,000. Wells Fargo & Company MN increased its position in Spire Global by 50.8% during the fourth quarter. Wells Fargo & Company MN now owns 10,547 shares of the company's stock worth $148,000 after purchasing an additional 3,553 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new stake in Spire Global during the first quarter worth about $99,000. Deutsche Bank AG increased its position in Spire Global by 22.0% during the first quarter. Deutsche Bank AG now owns 14,143 shares of the company's stock worth $114,000 after purchasing an additional 2,554 shares during the last quarter. Finally, Numerai GP LLC acquired a new stake in Spire Global during the fourth quarter worth about $234,000. 19.97% of the stock is currently owned by institutional investors and hedge funds.

Spire Global Stock Up 3.5%

NYSE SPIR traded up $0.31 on Wednesday, hitting $9.27. 107,495 shares of the stock were exchanged, compared to its average volume of 639,508. Spire Global, Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $21.43. The company has a market cap of $288.11 million, a PE ratio of -2.66 and a beta of 2.38. The company has a 50-day moving average price of $10.24 and a 200-day moving average price of $10.07.

Insider Activity at Spire Global

In other news, Director Stephen Messer sold 16,660 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $10.85, for a total transaction of $180,761.00. Following the completion of the sale, the director owned 82,062 shares in the company, valued at approximately $890,372.70. The trade was a 16.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Peter Platzer sold 20,799 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $10.92, for a total transaction of $227,125.08. Following the completion of the sale, the chairman owned 1,593,400 shares of the company's stock, valued at approximately $17,399,928. This trade represents a 1.29% 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 valued at $2,259,464 in the last 90 days. Insiders own 14.68% of the company's stock.

Analyst Upgrades and Downgrades

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

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.