S&P 500 rises as health care, tech gain to overshadow Fed independence concerns
Basola Leonardo, the Chief Financial Officer of Spire (NYSE:SR) Global, Inc. (NYSE:SPIR), a $274 million market cap company with impressive gross profit margins of 58%, recently sold shares of the company’s Class A common stock. According to InvestingPro analysis, the company’s stock has shown significant volatility in recent months. According to a recent SEC filing, Leonardo sold a total of 14,228 shares on February 21, 2025, at an average price of $11.268 per share, amounting to a total transaction value of approximately $160,321.
The shares were sold to cover taxes associated with the settlement of stock units, as per an automatic sale-to-cover instruction in the award agreement. Following this transaction, Leonardo holds 222,251 shares directly.
In other recent news, Spire Global reported a 13% increase in revenue for the fourth quarter of 2024. Despite the revenue growth, the company is dealing with financial challenges, including a potential need to raise additional funds. Canaccord Genuity has adjusted its price target for Spire Global, lowering it from $24.00 to $11.50, while maintaining a Buy rating. This adjustment reflects the company’s ongoing financial hurdles and the uncertainty surrounding the sale of its Maritime business to Kpler. Additionally, Spire Global has been granted an extension by the New York Stock Exchange to file its overdue quarterly financial reports, with a deadline set for April 15, 2025. The NYSE has cautioned that failure to meet this deadline could result in a suspension of trading. The company remains under continuous review by the exchange as it works to comply with the filing requirements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.