18,778 SpaceX $SPCX Shares Bought by Miramontes Capital LLC

Key Points

• Miramontes Capital increased its SpaceX stake by 408%, buying 18,778 additional shares to hold 23,380 shares valued at approximately $3.53 million.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and posted an adjusted loss of $0.09 per share, beating analysts’ expected loss of $0.26.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $221.34, although COO Gwynne Shotwell sold 342,170 shares worth about $52.5 million under a pre-arranged trading plan.

Miramontes Capital LLC grew its stake in SpaceX (NASDAQ:SPCX - Free Report) by 408.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,380 shares of the company's stock after purchasing an additional 18,778 shares during the quarter. SpaceX makes up approximately 1.0% of Miramontes Capital LLC's holdings, making the stock its 22nd biggest holding. Miramontes Capital LLC's holdings in SpaceX were worth $3,527,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPCX. Viking Fund Management LLC bought a new position in SpaceX during the 3rd quarter worth approximately $1,358,000. Wedbush Securities Inc. bought a new stake in shares of SpaceX in the 2nd quarter valued at approximately $5,094,000. Avior Wealth Management LLC bought a new stake in shares of SpaceX in the 3rd quarter valued at approximately $2,934,000. Apella Capital LLC raised its position in shares of SpaceX by 218.2% during the 3rd quarter. Apella Capital LLC now owns 8,424 shares of the company's stock valued at $1,412,000 after acquiring an additional 5,777 shares in the last quarter. Finally, Hyperion Asset Management Ltd acquired a new stake in shares of SpaceX during the 2nd quarter valued at approximately $201,137,000.

SpaceX Price Performance

Shares of SPCX stock opened at $146.03 on Monday. 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 company has a 50 day moving average of $148.44. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The firm has a market capitalization of $1.92 trillion and a P/E ratio of -1,622.56.

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, topping analysts' consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. The business's revenue was up 91.9% compared to the same quarter last year. Analysts expect that SpaceX will post 0.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPCX has been the topic of several research analyst reports. Wall Street Zen cut SpaceX from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd. Guggenheim assumed coverage on shares of SpaceX in a research note on Friday, August 7th. They set a "buy" rating for the company. KGI Securities lowered shares of SpaceX from an "outperform" rating to a "hold" rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $235.00 target price on shares of SpaceX in a report on Monday, September 28th. Finally, Argus upgraded shares of SpaceX from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a research report on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, SpaceX presently has an average rating of "Moderate Buy" and an average price target of $221.34.

Insider Transactions at SpaceX

In related 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 completion of the transaction, the chief operating officer 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analyst support and earnings anticipation: Bernstein reaffirmed a Buy rating and a $248 price target, well above the reported $146.03 level. Investors are also looking for evidence that Starlink and the company’s AI operations can support continued growth. Bernstein sets SpaceX stock price target
• Positive Sentiment: Starlink and launch expansion: SpaceX is seeking approval to increase Starship activity at Boca Chica from 25 launches to as many as 456 annually, while pursuing broader global landing and launch infrastructure. The company is also reportedly buying approximately $8 billion of wireless spectrum, a move that could expand Starlink’s direct-to-device and indoor mobile services. Is Starlink Mobile Expansion Altering the Investment Case for SpaceX?
• Positive Sentiment: Operational momentum: A Falcon 9 rideshare mission carrying 31 customer payloads and a Starfall reentry capsule highlights SpaceX’s active launch business. Elon Musk also said Starship remains ahead of Blue Origin and other competitors, reinforcing the company’s competitive narrative. SpaceX Bandwagon-5 launch coverage
• Neutral Sentiment: Share giveaway: Musk said he intends to give one SpaceX share to each of roughly 72 million U.S. children through Trump Accounts—potentially about $10.5 billion worth of shares. The plan could broaden public interest in SPCX, but its structure and effect on ownership are not yet clear. Elon Musk says he'll give every child in America a share in SpaceX
• Negative Sentiment: Execution and valuation concerns: Investors are focused on whether AI growth can justify roughly $18.4 billion in spending, while commentary notes that the AI business is growing rapidly but losing substantial amounts of money. The upcoming earnings report therefore presents a significant near-term risk if costs, losses, or guidance disappoint. SpaceX earnings preview
• Negative Sentiment: Competitive and political risks: The spectrum purchase could intensify competition with AT&T, Verizon, and T-Mobile, while continuing scrutiny of Starlink’s role in Ukraine and speculation about a SpaceX-Tesla combination add uncertainty around Musk’s broader strategy. SpaceX spectrum deal and telecom stocks

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.

Want to see what other hedge funds are holding SPCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SpaceX (NASDAQ:SPCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.