DnB Asset Management AS Sells 43,761 Shares of Spire Global, Inc. (NYSE:SPIR)

DnB Asset Management AS lowered its stake in Spire Global, Inc. (NYSE:SPIR) by 35.1% during the 4th quarter, HoldingsChannel reports. The firm owned 80,799 shares of the company’s stock after selling 43,761 shares during the period. DnB Asset Management AS’s holdings in Spire Global were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Spire Global by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company’s stock worth $15,540,000 after buying an additional 64,632 shares during the last quarter. Geode Capital Management LLC boosted its position in Spire Global by 9.0% in 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 last quarter. State Street Corp grew its stake in shares of Spire Global by 53.1% during the 3rd quarter. State Street Corp now owns 428,854 shares of the company’s stock valued at $4,284,000 after purchasing an additional 148,803 shares during the period. Stifel Financial Corp increased its position in shares of Spire Global by 45.7% during the 3rd quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock valued at $2,424,000 after purchasing an additional 76,119 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Spire Global in the 4th quarter worth approximately $1,902,000. 19.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Spire Global

In other news, Chairman Peter Platzer sold 51,346 shares of Spire Global 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 sale, the chairman now owns 1,840,357 shares in the company, valued at $20,740,823.39. This trade represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Theresa Condor sold 17,979 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $11.27, for a total transaction of $202,623.33. Following the transaction, the chief executive officer now owns 359,173 shares of the company’s stock, valued at approximately $4,047,879.71. This represents a 4.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 268,021 shares of company stock valued at $2,816,590 over the last 90 days. Company insiders own 17.11% of the company’s stock.

Spire Global Stock Performance

SPIR opened at $8.01 on Wednesday. The firm’s fifty day moving average is $12.72 and its 200 day moving average is $12.56. The stock has a market cap of $206.16 million, a price-to-earnings ratio of -2.30 and a beta of 2.34. Spire Global, Inc. has a fifty-two week low of $6.26 and a fifty-two week high of $21.43.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird reduced their target price on shares of Spire Global from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday. Canaccord Genuity Group reduced their price objective on Spire Global from $15.00 to $14.50 and set a “buy” rating for the company in a research note on Friday, March 14th. Finally, Stifel Nicolaus cut their price target on Spire Global from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Spire Global has an average rating of “Moderate Buy” and a consensus price target of $17.50.

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.