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 raised its holdings in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) by 803.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,139,175 shares of the company's stock after acquiring 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 filing with the SEC.

Other large investors have also recently made changes to their positions in the company. 325 Capital LLC acquired a new stake in Spire Global during the 1st quarter worth approximately $15,169,000. Alyeska Investment Group L.P. purchased a new position in Spire Global in the 1st quarter valued at approximately $10,056,000. Harbor Capital Advisors Inc. increased its position in Spire Global by 538.7% during the first quarter. Harbor Capital Advisors Inc. now owns 652,062 shares of the company's stock worth $5,275,000 after buying an additional 549,972 shares in the last quarter. Nuveen LLC purchased a new position in Spire Global during the first quarter worth $331,000. Finally, Jump Financial LLC boosted its holdings 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 worth $1,741,000 after purchasing an additional 36,405 shares during the last quarter. 19.97% of the stock is owned by institutional investors and hedge funds.

Spire Global Stock Up 1.1%

SPIR stock traded up $0.10 during midday trading on Friday, reaching $8.86. The company had a trading volume of 529,885 shares, compared to its average volume of 582,554. The stock has a 50 day moving average price of $10.35 and a 200 day moving average price of $10.09. Spire Global, Inc. has a fifty-two week low of $6.85 and a fifty-two week high of $21.43. The firm has a market capitalization of $275.31 million, a PE ratio of -2.55 and a beta of 2.38.

Insider Buying and Selling

In other Spire Global news, Director Stephen Messer sold 16,660 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $10.85, for a total value of $180,761.00. Following the transaction, the director owned 82,062 shares of the company's stock, valued at approximately $890,372.70. This represents 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 20,799 shares of the business'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 sale, the chairman directly owned 1,593,400 shares in the company, valued at approximately $17,399,928. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,557 shares of company stock valued at $2,259,464 over the last 90 days. 14.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.20.

Spire Global Company 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.