Sageworth Trust Co lifted its holdings in shares of SpaceX (NASDAQ:SPCX – Free Report) by 2,161.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,792 shares of the company’s stock after buying an additional 66,706 shares during the quarter. SpaceX makes up approximately 0.4% of Sageworth Trust Co’s investment portfolio, making the stock its 22nd largest position. Sageworth Trust Co’s holdings in SpaceX were worth $10,529,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPCX. SC US Ttgp LTD. acquired a new stake in SpaceX in the 2nd quarter valued at $20,933,621,000. Darsana Capital Partners LP acquired a new position in SpaceX during the second quarter worth $17,335,783,000. K5 Global Advisor LLC acquired a new position in SpaceX during the second quarter worth $6,587,531,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in SpaceX during the third quarter valued at $4,224,143,000. Finally, Thrive Capital Management LLC purchased a new position in SpaceX during the second quarter valued at $3,231,681,000.
Insider Buying and Selling at SpaceX
In other news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. HSBC restated a “hold” rating on shares of SpaceX in a research report on Wednesday, October 21st. UBS Group reiterated an “overweight” rating and issued a $300.00 price objective on shares of SpaceX in a report on Wednesday, October 21st. Cantor Fitzgerald lifted their price objective on SpaceX from $246.00 to $345.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. KeyCorp reiterated a “sector weight” rating on shares of SpaceX in a research note on Wednesday, October 21st. Finally, Seaport Research Partners downgraded SpaceX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.97.
Check Out Our Latest Research Report on SPCX
SpaceX Trading Down 3.8%
NASDAQ:SPCX opened at $135.92 on Thursday. The stock has a market capitalization of $1.85 trillion and a P/E ratio of 522.77. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The stock has a 50-day simple moving average of $149.64. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20.
SpaceX (NASDAQ:SPCX – Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.25. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company had revenue of $14.57 billion during the quarter. During the same period in the prior year, the company posted ($0.36) EPS. The firm’s revenue was up 161.4% on a year-over-year basis. On average, analysts expect that SpaceX will post 0.19 earnings per share for the current year.
Key Stories Impacting SpaceX
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: SpaceX selected Qualcomm to provide 5G network technology for Starlink Mobile, supporting its plan to build a nationwide wireless service and potentially opening a new revenue stream. SpaceX selects Qualcomm for Starlink Mobile
- Neutral Sentiment: Recent results showed strong momentum: third-quarter revenue rose 161%, while the Super Intelligence segment grew rapidly. However, the AI build-out requires heavy investment, and the eventual returns remain uncertain. SPCX cloud growth reshapes earnings after Q3 beat
- Negative Sentiment: Democratic gains in Congress and key state races have raised concerns about tougher oversight of AI data centers and potential obstacles to SpaceX’s infrastructure plans. The election outcome has also increased uncertainty around a possible SpaceX–Tesla merger. Why SpaceX stock is down today
- Negative Sentiment: Investors also face concerns about elevated spending, execution risks and a valuation that depends heavily on future growth. Commentary on the AI data-center opportunity notes that substantial profits may take time to materialize. SpaceX stock can get a lift from the Anthropic IPO, but remains unappealing
SpaceX Company Profile
Space Exploration Technologies Corp., commonly known as SpaceX, is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles and spacecraft designed to reduce the cost of access to space and support commercial, government and scientific missions.
SpaceX’s principal products and services include the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starlink satellite communications network. Falcon rockets are used to launch satellites, cargo and crew, while Dragon spacecraft support transportation to and from low Earth orbit.
See Also
- Five stocks we like better than SpaceX
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Receive News & Ratings for SpaceX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SpaceX and related companies with MarketBeat.com's FREE daily email newsletter.
