22,557 Shares of SpaceX $SPCX Bought by Interchange Capital Partners LLC

Key Points

• Interchange Capital Partners acquired 22,557 SpaceX shares in the third quarter, valued at approximately $3.4 million. Several other institutional investors also initiated smaller positions.
• SpaceX reported strong quarterly growth, with revenue rising 161.4% year over year to about $14.57 billion and EPS of $0.35, beating the $0.10 consensus estimate.
• Despite broad analyst optimism and an average price target of $244.97, SpaceX faces valuation and execution risks, trading near a $1.9 trillion market capitalization with a P/E ratio above 550; COO Gwynne Shotwell also sold $52.5 million of shares under a pre-arranged plan.

Interchange Capital Partners LLC bought a new stake in SpaceX (NASDAQ:SPCX - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 22,557 shares of the company's stock, valued at approximately $3,403,000.

A number of other hedge funds have also recently added to or reduced their stakes in SPCX. Syntax Research Inc. purchased a new stake in SpaceX in the second quarter valued at approximately $26,000. Atwood & Palmer Inc. acquired a new stake in shares of SpaceX in the second quarter valued at approximately $29,000. PayPay Securities Corp acquired a new stake in shares of SpaceX in the second quarter valued at approximately $30,000. Hickory Point Bank & Trust purchased a new position in shares of SpaceX during the third quarter worth approximately $30,000. Finally, Maryland Capital Advisors Inc. purchased a new position in shares of SpaceX during the third quarter worth approximately $30,000.

SpaceX Price Performance

SpaceX stock opened at $143.89 on Friday. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. The business's 50 day moving average is $149.55. The stock has a market capitalization of $1.90 trillion and a PE ratio of 553.42.

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. SpaceX's revenue for the quarter was up 161.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.36) earnings per share. As a group, equities research analysts anticipate that SpaceX will post 0.13 EPS for the current year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong quarterly growth and AI momentum: SpaceX reported $14.58 billion in quarterly revenue, up 161.4% year over year, and EPS of $0.35 versus the $0.10 consensus estimate. Its AI revenue reportedly increased 830%, while the renamed “Super Intelligence” division has become the company’s fastest-growing business. SpaceX AI growth article
• Positive Sentiment: Starlink continues to scale: The satellite internet business added 1.6 million customers, increased average revenue per user and remains SpaceX’s largest source of operating profit. Growing airline adoption and broader connectivity demand reinforce the commercial opportunity. Starlink customer growth article
• Positive Sentiment: Institutional and analyst support: Nvidia disclosed an approximately $18 billion SpaceX stake and is also a major supplier, while Bank of America added SPCX to its “US 1” list. RBC reportedly sees substantial additional upside. Nvidia SpaceX investment article
• Neutral Sentiment: Large long-term ambitions: Elon Musk discussed a potential capacity of 10,000 Starship launches annually from Louisiana and a possible Tesla-SpaceX combination. Both ideas could expand SpaceX’s addressable market, but they remain ambitious and subject to execution and shareholder-approval risks. Starship launch capacity article
• Negative Sentiment: Valuation and execution concerns: With a market capitalization near $1.9 trillion and a reported P/E ratio above 550, investors have little tolerance for disappointment. Analysts also question whether AI capacity additions and a major GPU lease can earn adequate returns as competitors add supply. SpaceX AI infrastructure risk article
• Negative Sentiment: Potential selling pressure: Nearly 3.9 billion shares have reportedly cleared IPO lockups, raising concerns that insiders and early investors could sell into a still-volatile market. Separately, T-Mobile’s CEO said there is “no room” for a direct SpaceX wireless-carrier deal, limiting near-term telecom upside. SpaceX lockup article
• Negative Sentiment: Customer-concentration risk: SpaceX’s potential Anthropic relationship is sizable, but the contract can reportedly be canceled with 90 days’ notice after the initial period, unlike larger minimum-spend commitments held by Amazon, Alphabet and Microsoft. Anthropic SpaceX contract article

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of the business's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SPCX. Wolfe Research reaffirmed an "outperform" rating and issued a $175.00 target price on shares of SpaceX in a report on Wednesday, August 26th. Barclays raised their price objective on shares of SpaceX from $254.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 21st. Wells Fargo & Company lifted their price objective on shares of SpaceX from $214.00 to $274.00 and gave the company an "overweight" rating in a research note on Wednesday, October 21st. Daiwa Securities Group initiated coverage on shares of SpaceX in a report on Thursday, July 2nd. They issued a "neutral" rating and a $175.00 target price for the company. Finally, William Blair reiterated an "outperform" rating on shares of SpaceX in a research note on Friday, October 9th. Four 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $244.97.

SpaceX Company 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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