Nuveen LLC Acquires Shares of 40,894 Spire Global, Inc. $SPIR

Key Points

• Nuveen LLC has acquired a new position in Spire Global, Inc., purchasing 40,894 shares valued at approximately $331,000, representing about 0.13% ownership in the company.
• Several institutional investors have also increased their stakes in Spire Global, with hedge funds collectively owning nearly 20% of the company's stock.
• Analysts have upgraded Spire Global's price target from $11.00 to $13.00, with the stock currently holding an average rating of "Moderate Buy" and a consensus target price of $18.20.

Nuveen LLC bought a new position in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 40,894 shares of the company's stock, valued at approximately $331,000. Nuveen LLC owned 0.13% of Spire Global as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Spire Global during the fourth quarter valued at approximately $42,000. Wells Fargo & Company MN increased its holdings in Spire Global by 50.8% during the fourth quarter. Wells Fargo & Company MN now owns 10,547 shares of the company's stock valued at $148,000 after buying an additional 3,553 shares during the period. Johnson Investment Counsel Inc. purchased a new position in Spire Global during the first quarter valued at approximately $99,000. Deutsche Bank AG increased its holdings in Spire Global by 22.0% during 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 period. Finally, Numerai GP LLC purchased a new position in Spire Global during the fourth quarter valued at approximately $234,000. 19.97% of the stock is owned by hedge funds and other institutional investors.

Spire Global Price Performance

NYSE SPIR traded down $0.01 on Tuesday, hitting $8.95. The stock had a trading volume of 252,395 shares, compared to its average volume of 642,764. The business's fifty day moving average price is $10.29 and its 200 day moving average price is $10.08. The stock has a market cap of $278.17 million, a price-to-earnings ratio of -2.57 and a beta of 2.38. Spire Global, Inc. has a 52-week low of $6.85 and a 52-week high of $21.43.

Insider Buying and Selling at Spire Global

In related news, Director Stephen Messer sold 16,660 shares of the firm'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 completion of the transaction, the director owned 82,062 shares in the company, valued at $890,372.70. This trade represents a 16.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Peter Platzer sold 20,799 shares of Spire Global stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $10.92, for a total value of $227,125.08. Following the sale, the chairman directly owned 1,593,400 shares of the company's stock, valued at approximately $17,399,928. This represents a 1.29% 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 over the last quarter. Insiders own 14.68% of the company's stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted their price objective on shares of 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 given a Hold rating to the stock. According to MarketBeat, Spire Global has a consensus rating of "Moderate Buy" and an average 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.