DnB Asset Management AS Reduces Stake in Spire Global, Inc. (NYSE:SPIR)

DnB Asset Management AS cut its holdings in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) by 35.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,799 shares of the company's stock after selling 43,761 shares during the period. DnB Asset Management AS owned approximately 0.33% of Spire Global worth $1,137,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of Spire Global by 6.1% during the 4th quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company's stock valued at $147,000 after buying an additional 597 shares during the period. Sanctuary Advisors LLC lifted its holdings in Spire Global by 15.9% in the third quarter. Sanctuary Advisors LLC now owns 12,424 shares of the company's stock valued at $124,000 after acquiring an additional 1,700 shares during the period. Bank of New York Mellon Corp lifted its holdings in Spire Global by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 51,048 shares of the company's stock valued at $718,000 after acquiring an additional 2,441 shares during the period. SBI Securities Co. Ltd. purchased a new position in Spire Global in the fourth quarter worth about $37,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Spire Global by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 69,480 shares of the company's stock valued at $694,000 after purchasing an additional 3,072 shares during the period. 19.97% of the stock is currently owned by institutional investors.

Spire Global Trading Down 0.9 %

Spire Global stock traded down $0.07 during mid-day trading on Friday, hitting $7.54. The stock had a trading volume of 740,294 shares, compared to its average volume of 455,347. Spire Global, Inc. has a one year low of $6.26 and a one year high of $21.43. The firm has a market capitalization of $233.62 million, a P/E ratio of -2.17 and a beta of 2.42. The firm's 50 day moving average is $12.02 and its 200 day moving average is $12.51.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SPIR shares. Robert W. Baird dropped their price objective 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 dropped their price target 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, April 1st. Finally, 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. Three 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $17.50.

Insider Buying and Selling

In other news, CAO Boyd C. Johnson sold 11,304 shares of Spire Global stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $127,396.08. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Peter Platzer sold 27,564 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were 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. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,021 shares of company stock worth $2,816,590. 17.11% of the stock is owned by corporate 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.