Spire Global (NYSE:SPIR) Price Target Lowered to $14.50 at Canaccord Genuity Group

Spire Global (NYSE:SPIR) had its target price cut by Canaccord Genuity Group from $15.00 to $14.50 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

SPIR has been the topic of several other research reports. Alliance Global Partners upped their price objective on Spire Global from $17.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and upped their price objective for the company from $8.00 to $20.00 in a research note on Thursday, November 14th. Finally, Robert W. Baird upped their price objective on Spire Global from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.30.

Spire Global Stock Down 3.0 %

Shares of NYSE SPIR opened at $8.61 on Friday. Spire Global has a twelve month low of $6.26 and a twelve month high of $21.43. The stock’s 50 day moving average price is $14.24 and its 200-day moving average price is $12.48. The company has a market capitalization of $221.45 million, a PE ratio of -2.47 and a beta of 2.34.

Insiders Place Their Bets

In other Spire Global news, Chairman Peter Platzer sold 145,600 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $10.38, for a total transaction of $1,511,328.00. Following the sale, the chairman now owns 1,694,757 shares in the company, valued at $17,591,577.66. This represents a 7.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Boyd C. Johnson sold 11,304 shares of the 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 sale, the chief accounting officer now owns 300,304 shares in the company, valued at approximately $3,384,426.08. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,457 shares of company stock worth $2,580,366 over the last 90 days. Corporate insiders own 17.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Spire Global by 6.2% in 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 during the period. Geode Capital Management LLC increased its holdings in shares of Spire Global by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 509,644 shares of the company’s stock worth $7,172,000 after purchasing an additional 3,551 shares during the period. State Street Corp increased its holdings in shares of Spire Global by 53.1% in the third quarter. State Street Corp now owns 428,854 shares of the company’s stock worth $4,284,000 after purchasing an additional 148,803 shares during the period. Stifel Financial Corp increased its holdings in shares of Spire Global by 45.7% in the third quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock worth $2,424,000 after purchasing an additional 76,119 shares during the period. Finally, Northern Trust Corp increased its stake in Spire Global by 6.4% in the fourth quarter. Northern Trust Corp now owns 188,393 shares of the company’s stock valued at $2,651,000 after acquiring an additional 11,373 shares during the last quarter. Institutional investors own 19.97% of the company’s stock.

About Spire Global

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.