ARS Investment Partners LLC Cuts Stake in Spire Global, Inc. (NYSE:SPIR)

ARS Investment Partners LLC cut its stake in Spire Global, Inc. (NYSE:SPIR) by 41.1% during the 4th quarter, HoldingsChannel reports. The firm owned 27,623 shares of the company’s stock after selling 19,264 shares during the quarter. ARS Investment Partners LLC’s holdings in Spire Global were worth $389,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC grew its stake in shares of Spire Global by 869,900.0% during the third quarter. Quest Partners LLC now owns 8,700 shares of the company’s stock valued at $87,000 after acquiring an additional 8,699 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Spire Global during the second quarter valued at about $106,000. MetLife Investment Management LLC acquired a new stake in shares of Spire Global during the third quarter valued at about $136,000. Van ECK Associates Corp acquired a new stake in shares of Spire Global during the third quarter valued at about $172,000. Finally, Rhumbline Advisers grew its stake in Spire Global by 2,221.7% in the second quarter. Rhumbline Advisers now owns 27,071 shares of the company’s stock worth $293,000 after purchasing an additional 25,905 shares in the last quarter. 19.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Spire Global news, CAO Boyd C. Johnson sold 12,373 shares of Spire Global stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $14.77, for a total value of $182,749.21. Following the transaction, the chief accounting officer now owns 311,608 shares in the company, valued at approximately $4,602,450.16. The trade was a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Platzer sold 50,238 shares of Spire Global stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $14.77, for a total transaction of $742,015.26. Following the completion of the transaction, the chief executive officer now owns 1,891,703 shares in the company, valued at approximately $27,940,453.31. This trade represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,481 shares of company stock valued at $1,380,714 over the last quarter. Corporate insiders own 17.11% of the company’s stock.

Spire Global Price Performance

Shares of NYSE:SPIR opened at $17.98 on Tuesday. Spire Global, Inc. has a 12 month low of $6.26 and a 12 month high of $19.40. The stock’s 50 day moving average price is $14.34 and its 200 day moving average price is $11.66.

Wall Street Analysts Forecast Growth

SPIR has been the subject of a number of research reports. Alliance Global Partners lifted their price target on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Robert W. Baird lifted their target price on Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and lifted their target price for the company from $8.00 to $20.00 in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their price target on Spire Global from $12.00 to $18.00 and gave the company a “buy” rating in a report on Friday, November 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Spire Global presently has an average rating of “Moderate Buy” and a consensus target price of $19.60.

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.