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Peter Platzer, Executive Chairman of Spire (NYSE:SR) Global, Inc. (NYSE:SPIR), recently sold shares of the company’s Class A common stock totaling approximately $1.51 million. The transactions, executed on March 4, 2025, were part of a Rule 10b5-1 trading plan adopted by Platzer in May 2024. The sale comes as the $287 million market cap company trades near $11.1 per share, with InvestingPro analysis indicating the stock is fairly valued.
Platzer sold a total of 145,600 shares in two separate transactions. The first batch of 78,933 shares was sold at a weighted-average price of $10.0176, with actual sale prices ranging from $9.56 to $10.54. The second transaction involved 66,667 shares sold at a weighted-average price of $10.8149, with sale prices ranging from $10.56 to $11.21. These transactions occurred as the stock trades within its 52-week range of $6.26 to $21.43, with InvestingPro data showing significant price volatility.
Following these sales, Platzer retains direct ownership of 1,694,757 shares of Spire Global. Additionally, Platzer and his spouse, Theresa Condor, share beneficial ownership of 359,173 shares held indirectly. Investors should note that Spire Global is scheduled to report earnings on March 7, 2025, with revenue growth of 31% in the last twelve months. Access comprehensive analysis and 12 additional ProTips with InvestingPro.
In other recent news, Spire Global reported a significant 29% year-over-year increase in revenue for the third quarter of 2024, reaching $28.6 million. Despite an operating loss of $6.1 million, the company achieved positive free cash flow of $5.1 million, marking a substantial improvement in its financial performance. Spire Global also announced plans to sell its maritime business for $241 million, with the transaction expected to close in six to eight weeks, which is anticipated to strengthen the company’s balance sheet. Analyst firms such as Stifel and Canaccord Genuity have maintained their Buy ratings on Spire Global, with Stifel setting a $20 price target and Canaccord raising its target to $15, reflecting confidence in the company’s prospects. The changes in accounting practices, including revenue recognition methods, are expected to align more closely with the actual delivery of services, potentially smoothing out revenue reporting.
Furthermore, Spire Global’s recent developments include the completion of a revenue recognition review and the restatement of prior financials, alongside advancements in the sale of its Maritime division. Analysts from Stifel expressed optimism about the company’s future post-sale, suggesting potential for over 20% revenue growth and sustained profitability. Additionally, the company has been focusing on innovation, such as developing optical inter-satellite links, which positions it well in the expanding space economy. As Spire Global continues to navigate these strategic transitions, investors and market watchers will likely keep a close eye on how these developments impact the company’s financial health and performance.
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