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

DnB Asset Management AS trimmed its position in Spire Global, Inc. (NYSE:SPIR) by 35.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,799 shares of the company’s stock after selling 43,761 shares during the quarter. DnB Asset Management AS owned 0.33% of Spire Global worth $1,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPIR. JPMorgan Chase & Co. raised its stake in shares of Spire Global by 6.1% during the fourth quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company’s stock valued at $147,000 after acquiring an additional 597 shares during the last quarter. Vanguard Group Inc. raised its position in Spire Global by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company’s stock valued at $15,540,000 after purchasing an additional 64,632 shares during the last quarter. Raymond James Financial Inc. bought a new position in Spire Global during the 4th quarter valued at approximately $1,902,000. Promus Capital LLC purchased a new stake in Spire Global in the 4th quarter worth approximately $135,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Spire Global in the 4th quarter worth approximately $37,000. 19.97% of the stock is currently owned by institutional investors.

Insider Activity at Spire Global

In related news, Chairman Peter Platzer sold 27,564 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.57, for a total value of $236,223.48. Following the transaction, the chairman now directly owns 1,615,902 shares of the company’s stock, valued at approximately $13,848,280.14. This represents a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Boyd C. Johnson sold 11,304 shares of Spire Global stock in a transaction on Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $127,396.08. Following the completion of the sale, the chief accounting officer now directly owns 300,304 shares of the company’s stock, valued at approximately $3,384,426.08. The trade was a 3.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,021 shares of company stock valued at $2,816,590. 17.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Spire Global Price Performance

Shares of NYSE:SPIR opened at $8.01 on Wednesday. The business has a fifty day moving average price of $12.72 and a 200-day moving average price of $12.56. The company has a market capitalization of $206.16 million, a PE ratio of -2.30 and a beta of 2.34. Spire Global, Inc. has a 1-year low of $6.26 and a 1-year high of $21.43.

Spire Global 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.