Harbor Capital Advisors Inc. Sells 335,516 Shares of Spire Global, Inc. $SPIR

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Spire Global, Inc. by 51.5% during the second quarter, holding 316,546 shares valued at approximately $3.77 million after selling over 335,000 shares.
• Other hedge funds, including Northern Trust Corp and Two Sigma Investments LP, also modified their positions, indicating increased investor activity around Spire Global.
• Spire Global's stock opened at $9.72 with a market cap of $302.10 million, revealing significant volatility with a one-year range of $6.85 to $21.43.

Harbor Capital Advisors Inc. trimmed its holdings in Spire Global, Inc. (NYSE:SPIR - Free Report) by 51.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,546 shares of the company's stock after selling 335,516 shares during the period. Harbor Capital Advisors Inc. owned about 1.02% of Spire Global worth $3,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of SPIR. Two Sigma Investments LP increased its stake in shares of Spire Global by 4.3% in the 4th quarter. Two Sigma Investments LP now owns 38,009 shares of the company's stock worth $535,000 after acquiring an additional 1,550 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 buying an additional 1,712 shares in the last quarter. Rhumbline Advisers increased its position in shares of Spire Global by 6.9% during the 1st quarter. Rhumbline Advisers now owns 32,075 shares of the company's stock worth $259,000 after purchasing an additional 2,068 shares during the last quarter. Deutsche Bank AG lifted its stake in Spire Global by 22.0% in the first 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 during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in Spire Global in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 19.97% of the company's stock.

Spire Global Trading Up 4.2%

NYSE SPIR traded up $0.42 during mid-day trading on Friday, reaching $10.49. 715,018 shares of the company's stock traded hands, compared to its average volume of 398,583. The company has a market cap of $326.03 million, a price-to-earnings ratio of -3.01 and a beta of 2.38. Spire Global, Inc. has a 1-year low of $6.85 and a 1-year high of $21.43. The company has a fifty day simple moving average of $9.90 and a 200-day simple moving average of $10.00.

Insider Buying and Selling

In other news, Chairman Peter Platzer sold 130,191 shares of the firm'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 transaction, the chairman owned 1,614,199 shares in the company, valued at $19,773,937.75. This trade represents a 7.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 176,897 shares of company stock valued at $2,078,703. 14.68% of the stock is currently owned by company insiders.

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.