Baillie Gifford & Co. Reduces Position in Spire Global, Inc. (NYSE:SPIR)

Baillie Gifford & Co. reduced its stake in Spire Global, Inc. (NYSE:SPIR) by 87.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,259 shares of the company’s stock after selling 94,996 shares during the quarter. Baillie Gifford & Co. owned about 0.05% of Spire Global worth $132,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Spire Global by 23.1% in the first quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock valued at $9,220,000 after purchasing an additional 144,047 shares during the last quarter. NewGen Asset Management Ltd lifted its holdings in shares of Spire Global by 406.3% during the 2nd quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock worth $4,390,000 after acquiring an additional 325,000 shares during the period. Ancora Advisors LLC boosted its position in shares of Spire Global by 429.2% in the first quarter. Ancora Advisors LLC now owns 329,457 shares of the company’s stock worth $3,953,000 after acquiring an additional 267,197 shares during the last quarter. Herald Investment Management Ltd boosted its position in shares of Spire Global by 10.0% in the second quarter. Herald Investment Management Ltd now owns 165,000 shares of the company’s stock worth $1,784,000 after acquiring an additional 15,000 shares during the last quarter. Finally, DNB Asset Management AS grew its holdings in Spire Global by 117.5% in the second quarter. DNB Asset Management AS now owns 105,745 shares of the company’s stock valued at $1,145,000 after purchasing an additional 57,137 shares during the period. Institutional investors and hedge funds own 19.97% of the company’s stock.

Spire Global Price Performance

Shares of SPIR stock opened at $13.45 on Thursday. The firm has a fifty day simple moving average of $9.70 and a 200-day simple moving average of $10.19. The company has a market capitalization of $327.10 million, a PE ratio of -3.86 and a beta of 1.96. Spire Global, Inc. has a twelve month low of $4.56 and a twelve month high of $19.40. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SPIR shares. Craig Hallum downgraded Spire Global from a “buy” rating to a “hold” rating and lowered their price target for the company from $13.00 to $8.00 in a research report on Thursday, August 15th. Canaccord Genuity Group restated a “buy” rating and issued a $12.00 price target (down previously from $20.00) on shares of Spire Global in a report on Tuesday, September 10th. Raymond James reiterated a “market perform” rating on shares of Spire Global in a research note on Wednesday, August 28th. Baird R W downgraded shares of Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $9.00 price target (down from $15.00) on shares of Spire Global in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $14.20.

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.