NewGen Asset Management Ltd Lowers Position in Spire Global, Inc. (NYSE:SPIR)

NewGen Asset Management Ltd trimmed its holdings in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) by 59.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 266,195 shares of the company's stock after selling 383,805 shares during the quarter. Spire Global accounts for approximately 3.4% of NewGen Asset Management Ltd's portfolio, making the stock its 12th biggest position. NewGen Asset Management Ltd owned about 1.09% of Spire Global worth $3,745,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nkcfo LLC purchased a new stake in shares of Spire Global in the 4th quarter valued at $774,000. Geode Capital Management LLC increased its stake in Spire Global by 9.0% during the third quarter. Geode Capital Management LLC now owns 506,093 shares of the company's stock worth $5,057,000 after purchasing an additional 41,612 shares during the period. Vanguard Group Inc. lifted its position in shares of Spire Global by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company's stock worth $15,540,000 after purchasing an additional 64,632 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Spire Global by 62.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 102,090 shares of the company's stock valued at $1,436,000 after purchasing an additional 39,175 shares during the period. Finally, Barclays PLC grew its holdings in shares of Spire Global by 321.5% in the third quarter. Barclays PLC now owns 31,875 shares of the company's stock valued at $318,000 after purchasing an additional 24,312 shares in the last quarter. 19.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on SPIR. Robert W. Baird reduced their target price on shares of Spire Global from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. Stifel Nicolaus lowered their price target on shares of Spire Global from $20.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Canaccord Genuity Group raised their price objective on shares of Spire Global from $15.50 to $16.00 and gave the company a "buy" rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Spire Global currently has an average rating of "Moderate Buy" and an average price target of $17.80.

Spire Global Price Performance

Shares of Spire Global stock traded up $0.28 during trading hours on Friday, hitting $9.88. The company had a trading volume of 277,946 shares, compared to its average volume of 487,147. The company's 50-day moving average is $9.31 and its two-hundred day moving average is $12.36. Spire Global, Inc. has a twelve month low of $6.26 and a twelve month high of $21.43. The company has a market cap of $305.95 million, a P/E ratio of -2.84 and a beta of 2.42.

Insider Buying and Selling at Spire Global

In other news, Chairman Peter Platzer sold 51,346 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $11.27, for a total transaction of $578,669.42. Following the transaction, the chairman now directly owns 1,840,357 shares in the company, valued at approximately $20,740,823.39. This trade represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Boyd C. Johnson sold 11,304 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $11.27, for a total transaction of $127,396.08. Following the completion of the sale, the chief accounting officer now owns 300,304 shares of the company's stock, valued at approximately $3,384,426.08. This trade represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 295,314 shares of company stock worth $3,069,869 over the last 90 days. Corporate insiders own 17.11% of the company's stock.

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.