10,069 Shares in SpaceX $SPCX Purchased by Partners Wealth Management LLC

Key Points

• Partners Wealth Management purchased 10,069 SpaceX shares worth approximately $1.52 million in the third quarter, while several other institutional investors also increased or initiated positions.
• COO Gwynne Shotwell sold 342,170 shares for about $52.5 million under a pre-arranged Rule 10b5-1 plan, reducing her holdings by 12.16%.
• SpaceX reported strong quarterly growth, including a 161.4% year-over-year revenue increase to $14.57 billion and earnings above estimates, but remains unprofitable under GAAP and trades at a very high valuation; analysts’ consensus rating is “Moderate Buy” with a $244.97 target.

Partners Wealth Management LLC purchased a new stake in SpaceX (NASDAQ:SPCX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,069 shares of the company's stock, valued at approximately $1,519,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Soltis Investment Advisors LLC boosted its holdings in shares of SpaceX by 635.7% in the 3rd quarter. Soltis Investment Advisors LLC now owns 44,622 shares of the company's stock valued at $6,732,000 after buying an additional 38,557 shares in the last quarter. Founders Financial Securities LLC grew its position in shares of SpaceX by 84.6% in the 3rd quarter. Founders Financial Securities LLC now owns 7,135 shares of the company's stock valued at $1,076,000 after buying an additional 3,269 shares during the last quarter. Windmill Hill Asset Management Ltd acquired a new stake in SpaceX during the 3rd quarter worth $1,494,000. Financial Solutions Advisory Group Inc. acquired a new stake in SpaceX during the 3rd quarter worth $351,000. Finally, United Asset Strategies Inc. purchased a new stake in SpaceX in the third quarter valued at $1,433,000.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s AI business remains a major growth catalyst. Reports indicate that Anthropic became its largest customer and accounted for more than one-third of third-quarter revenue, while SpaceX is reportedly benefiting from substantial demand for Nvidia-powered computing capacity. Anthropic Reportedly Becomes SpaceX’s Top Customer
• Positive Sentiment: Analysts continue to highlight SpaceX’s strong long-term prospects, including rapid AI growth, Starlink expansion and potential demand from Anthropic and other enterprise customers. The company’s AI revenue reportedly rose sharply in the third quarter, supporting the view that SpaceX is evolving beyond launch services. SpaceX vs. Nvidia
• Positive Sentiment: SpaceX launched Ukraine’s first OBRIA test satellite, reinforcing Falcon 9’s commercial launch capabilities and its role in developing independent communications networks. SPCX Launches Satellite for Ukraine’s Communications
• Neutral Sentiment: Speculation about a Tesla-SpaceX combination continues after Elon Musk called a merger strategically attractive, but the proposal would face difficult shareholder-approval, regulatory and governance hurdles. Questions Before a Possible Tesla and SpaceX Merger
• Negative Sentiment: Investors are concerned that SpaceX’s wireless ambitions could require approximately $130 billion beyond its reported spectrum commitments to compete with T-Mobile. T-Mobile also rejected the idea of a broader SpaceX deal, increasing uncertainty around the strategy. SpaceX’s Spectrum Deals May Not Be Enough
• Negative Sentiment: Intel’s cautious guidance intensified concerns about technology spending and AI infrastructure demand, weighing on SpaceX despite the company’s strong growth narrative. Heavy planned capital expenditures make SpaceX particularly sensitive to a broader pullback in AI investment. Why SpaceX Stock Dropped Today
• Negative Sentiment: Anthropic’s importance creates customer-concentration risk: although its reported SpaceX contract could be worth up to $120.5 billion, it may be cancellable with 90 days’ notice after the initial term. Investors are therefore questioning how durable the AI revenue pipeline is. Anthropic Contracts and SpaceX
• Negative Sentiment: SpaceX also faces potential selling pressure as billions of shares have become eligible to trade following IPO lockup releases. That supply overhang, combined with a very demanding valuation and ongoing GAAP losses, is limiting investor enthusiasm. SpaceX Insider Share Unlocks

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of the firm's stock in a transaction dated 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 owned 2,472,035 shares of the company's stock, valued at $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several research firms have issued reports on SPCX. Canaccord Genuity Group assumed coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a "buy" rating and a $246.00 price objective for the company. HSBC reiterated a "hold" rating on shares of SpaceX in a research report on Wednesday, October 21st. Evercore reissued an "outperform" rating and issued a $275.00 target price on shares of SpaceX in a report on Friday, October 16th. Guggenheim started coverage on SpaceX in a research report on Friday, August 7th. They issued a "buy" rating for the company. Finally, Sanford C. Bernstein set a $267.00 price target on SpaceX in a research note on Monday. Four analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $244.97.

SpaceX Price Performance

Shares of NASDAQ:SPCX opened at $134.72 on Friday. The firm has a market cap of $1.83 trillion and a PE ratio of 518.15. The stock's fifty day simple moving average is $149.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company's revenue for the quarter was up 161.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.36) earnings per share. Sell-side analysts expect that SpaceX will post 0.13 EPS for the current fiscal year.

SpaceX 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.

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