Quadcap Wealth Management LLC raised its holdings in SpaceX (NASDAQ:SPCX – Free Report) by 166.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,391 shares of the company’s stock after buying an additional 3,991 shares during the quarter. Quadcap Wealth Management LLC’s holdings in SpaceX were worth $964,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. James T. Borello RIA increased its holdings in shares of SpaceX by 41.4% during the third quarter. James T. Borello RIA now owns 246 shares of the company’s stock valued at $37,000 after acquiring an additional 72 shares in the last quarter. Oakworth Capital Inc. boosted its stake in SpaceX by 17.8% in the 3rd quarter. Oakworth Capital Inc. now owns 483 shares of the company’s stock worth $73,000 after purchasing an additional 73 shares in the last quarter. Fonville Wealth Management LLC boosted its stake in SpaceX by 3.8% in the 3rd quarter. Fonville Wealth Management LLC now owns 2,719 shares of the company’s stock worth $410,000 after purchasing an additional 99 shares in the last quarter. Downshift Financial LLC grew its position in SpaceX by 25.7% during the 3rd quarter. Downshift Financial LLC now owns 553 shares of the company’s stock worth $83,000 after purchasing an additional 113 shares during the last quarter. Finally, Balance Wealth Partners LLC grew its position in SpaceX by 5.7% during the 3rd quarter. Balance Wealth Partners LLC now owns 2,261 shares of the company’s stock worth $341,000 after purchasing an additional 121 shares during the last quarter.
Insider Buying and Selling at SpaceX
In other news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the sale, the chief operating officer owned 2,472,035 shares in the company, valued at $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
SpaceX Stock Performance
NASDAQ SPCX traded up $10.65 during trading hours on Friday, reaching $134.27. The stock had a trading volume of 114,740,906 shares, compared to its average volume of 102,187,288. The company’s fifty day moving average is $149.18. The stock has a market cap of $1.82 trillion and a PE ratio of 516.42. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. 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 posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business posted ($0.36) earnings per share. The business’s quarterly revenue was up 161.4% compared to the same quarter last year. On average, equities research analysts forecast that SpaceX will post 0.19 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on SPCX. Arete Research set a $450.00 price target on shares of SpaceX in a research note on Tuesday, August 11th. CLSA initiated coverage on shares of SpaceX in a research note on Monday, September 28th. They set an “outperform” rating and a $250.00 price objective for the company. Oppenheimer boosted their price objective on shares of SpaceX from $250.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. Sanford C. Bernstein set a $267.00 target price on SpaceX in a research report on Monday, October 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $250.00 target price on shares of SpaceX in a research note on Wednesday, October 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.60.
View Our Latest Analysis on SpaceX
SpaceX News Roundup
Here are the key news stories impacting SpaceX this week:
- Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
- Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
- Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
- Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
- Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile
About SpaceX
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.
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