14,084 Shares in SpaceX $SPCX Bought by Private Wealth Partners LLC

Key Points

• Private Wealth Partners LLC acquired 14,084 SpaceX shares during the third quarter, worth approximately $2.13 million. Several other institutional investors also initiated or increased positions.
• SpaceX reported strong third-quarter results, with revenue up 161% year over year to roughly $14.6 billion and EPS of $0.35 versus the $0.10 analyst consensus. Analysts broadly remain bullish, with a “Moderate Buy” consensus and an average price target of $244.19.
• Despite growth prospects from AI and Starlink’s potential wireless expansion, SpaceX faces substantial risks, including more than $9.9 billion in quarterly free-cash-flow burn, planned debt financing, launch-business losses, geopolitical concerns and insider share sales.

Private Wealth Partners LLC acquired a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 14,084 shares of the company's stock, valued at approximately $2,125,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. NovaPoint Capital LLC acquired a new stake in SpaceX in the 3rd quarter valued at approximately $390,000. MBL Wealth LLC bought a new stake in SpaceX during the 3rd quarter valued at $567,000. Insight Advisors LLC PA boosted its position in SpaceX by 47.3% during the 3rd quarter. Insight Advisors LLC PA now owns 3,203 shares of the company's stock worth $483,000 after acquiring an additional 1,029 shares during the period. Demars Financial Group LLC acquired a new position in SpaceX during the 3rd quarter worth $250,000. Finally, Compass Wealth Management LLC acquired a new position in SpaceX during the 3rd quarter worth $41,000.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla NASDAQ: TSLA merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SPCX shares. Royal Bank Of Canada reissued an "outperform" rating on shares of SpaceX in a report on Monday. CLSA began coverage on shares of SpaceX in a report on Monday, September 28th. They issued an "outperform" rating and a $250.00 price objective for the company. Sanford C. Bernstein reiterated an "outperform" rating on shares of SpaceX in a research report on Wednesday. KeyCorp reissued a "sector weight" rating on shares of SpaceX in a research note on Wednesday. Finally, Canaccord Genuity Group initiated coverage on shares of SpaceX in a report on Tuesday, July 7th. They issued a "buy" rating and a $246.00 price objective for the company. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.19.

SpaceX Stock Performance

Shares of NASDAQ:SPCX traded up $2.74 during trading hours on Friday, hitting $147.49. 110,309,928 shares of the company's stock traded hands, compared to its average volume of 98,790,120. The company's fifty day simple moving average is $149.40. The stock has a market cap of $1.94 trillion and a P/E ratio of -1,638.78. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion during the quarter. During the same quarter in the prior year, the firm earned ($0.36) EPS. SpaceX's quarterly revenue was up 161.4% on a year-over-year basis. On average, analysts anticipate that SpaceX will post 0.13 EPS for the current fiscal year.

Insider Activity

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the transaction, the chief operating officer owned 2,472,035 shares of the company's stock, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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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