Granahan Investment Management LLC Acquires 1,013,106 Shares of Spire Global, Inc. $SPIR

Key Points

• Granahan Investment Management LLC significantly increased its stake in Spire Global, Inc. by 803.6% during the first quarter, now owning approximately 3.68% of the company worth $9.22 million.
• Spire Global's shares opened at $8.77, with a 1-year low of $6.85 and a high of $21.43, while the company maintains a market capitalization of $272.57 million.
• Wall Street analysts have expressed optimism for Spire Global, raising the target price from $11.00 to $13.00 and issuing a consensus rating of "Moderate Buy."

Granahan Investment Management LLC grew its position in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) by 803.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,139,175 shares of the company's stock after purchasing an additional 1,013,106 shares during the quarter. Granahan Investment Management LLC owned approximately 3.68% of Spire Global worth $9,216,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Two Sigma Investments LP increased its position in shares of Spire Global by 4.3% during the 4th quarter. Two Sigma Investments LP now owns 38,009 shares of the company's stock valued at $535,000 after purchasing an additional 1,550 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Spire Global by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 52,760 shares of the company's stock valued at $427,000 after acquiring an additional 1,712 shares during the period. Rhumbline Advisers boosted its holdings in Spire Global by 6.9% during the 1st quarter. Rhumbline Advisers now owns 32,075 shares of the company's stock valued at $259,000 after acquiring an additional 2,068 shares during the period. Deutsche Bank AG boosted its holdings 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 acquiring an additional 2,554 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Spire Global during the 4th quarter valued at about $42,000. 19.97% of the stock is currently owned by institutional investors.

Spire Global Stock Performance

Shares of Spire Global stock traded up $0.14 during midday trading on Wednesday, reaching $9.10. 135,341 shares of the company's stock traded hands, compared to its average volume of 639,771. The company has a market cap of $282.70 million, a PE ratio of -2.61 and a beta of 2.38. The stock has a 50 day moving average of $10.24 and a 200-day moving average of $10.07. Spire Global, Inc. has a 12 month low of $6.85 and a 12 month high of $21.43.

Insiders Place Their Bets

In other Spire Global news, Director Stephen Messer sold 16,660 shares of Spire Global stock in a transaction on Friday, June 13th. The stock was sold at an average price of $10.85, for a total transaction of $180,761.00. Following the completion of the transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Peter Platzer sold 130,191 shares of Spire Global stock in a transaction on 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 directly owned 1,614,199 shares of the company's stock, valued at approximately $19,773,937.75. The trade was a 7.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,557 shares of company stock valued at $2,259,464 in the last quarter. 14.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

About Spire Global

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.