16,843 Shares in SpaceX $SPCX Bought by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC bought 16,843 SpaceX shares worth approximately $2.54 million during the third quarter, while several other institutional investors also initiated or expanded positions.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and exceeded analyst earnings expectations; analysts maintain a “Moderate Buy” consensus with an average price target of $219.77.
• Growth initiatives include expanded Starlink spectrum and satellite approvals plus a major American Airlines connectivity contract, but investors face risks from potential $40 billion in debt financing, an upcoming share unlock, and delays to Starlink’s India launch.

Galvin Gaustad & Stein LLC bought 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. The firm bought 16,843 shares of the company's stock, valued at approximately $2,541,000.

Other institutional investors have also modified their holdings of the company. Grove Bank & Trust purchased a new stake in shares of SpaceX during the third quarter worth approximately $344,000. Wisconsin Wealth Advisors LLC purchased a new position in SpaceX in the 3rd quarter valued at $929,000. Sapient Capital LLC acquired a new position in SpaceX in the 3rd quarter valued at $3,541,000. Atwood & Palmer Inc. raised its position in SpaceX by 239.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 567 shares of the company's stock worth $86,000 after buying an additional 400 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new position in SpaceX during the 3rd quarter worth $19,385,000.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX agreed to acquire nationwide 800 MHz low-band spectrum licenses from Grain Management, giving Starlink a path to expand into indoor cellular coverage and compete more directly with AT&T, Verizon and T-Mobile. The deal remains subject to final FCC approval. SpaceX Acquires Nationwide Spectrum Licenses
• Positive Sentiment: The FCC approved SpaceX’s next-generation Starlink Mobile constellation of up to 15,000 satellites and waived a ground-carrier leasing requirement, strengthening the company’s direct-to-device strategy. FCC Approval for 15,000 Starlink Satellites
• Positive Sentiment: American Airlines plans to install Starlink internet on more than 1,000 aircraft, adding a substantial commercial customer and supporting recurring connectivity revenue. American Airlines to Add Starlink
• Neutral Sentiment: Elon Musk said he sees a path for SpaceX to reach a valuation in the “tens of trillions,” a bullish long-term forecast but one that offers no near-term financial guidance. Musk’s SpaceX Valuation Prediction
• Negative Sentiment: Reports that SpaceX may raise approximately $40 billion in loans and bonds to purchase Nvidia AI chips intensified concerns about leverage, capital allocation and the risk of spending heavily before AI-compute demand and returns are proven. Credit-default swap costs reportedly reached record levels. Apollo and Banks Discuss SpaceX Financing
• Negative Sentiment: Up to 328.4 million shares are scheduled to become eligible for sale on October 9, creating a potential increase in trading supply and selling pressure. SpaceX Share Unlock
• Negative Sentiment: Starlink’s India launch remains stalled amid a public dispute with local telecom interests and regulators, delaying access to a major potential market. Starlink India Launch Dispute

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SPCX shares. UBS Group reaffirmed a "buy" rating on shares of SpaceX in a report on Tuesday, September 29th. William Blair reissued an "outperform" rating on shares of SpaceX in a report on Friday, September 11th. New Street Research raised SpaceX to a "strong-buy" rating in a report on Thursday, June 11th. Mizuho started coverage on SpaceX in a research report on Tuesday, July 7th. They set an "outperform" rating and a $200.00 target price on the stock. Finally, Cfra started coverage on SpaceX in a research note on Friday, June 12th. They set a "sell" rating and a $115.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $219.77.

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction dated 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 directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Performance

Shares of SPCX stock opened at $160.57 on Friday. The business's fifty day moving average price is $143.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The firm has a market capitalization of $2.12 trillion and a PE ratio of -1,784.11. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. SpaceX's revenue was up 91.9% on a year-over-year basis. As a group, equities research analysts predict that SpaceX will post 0.09 earnings per share for the current year.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX's primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.

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