50,520 Shares of SpaceX $SPCX Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management acquired 50,520 SpaceX shares worth approximately $8.6 million in the second quarter, joining several other institutional investors that initiated positions.
• COO Gwynne Shotwell sold 342,170 shares for about $52.5 million under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 12.16%.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and beat EPS estimates; analysts maintain a “Moderate Buy” consensus with an average price target of $218.28, despite valuation and share-supply concerns.

QRG Capital Management Inc. bought a new stake in shares of SpaceX (NASDAQ:SPCX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 50,520 shares of the company's stock, valued at approximately $8,632,000.

Other institutional investors have also bought and sold shares of the company. Wedbush Securities Inc. bought a new position in SpaceX in the 2nd quarter worth approximately $5,094,000. Hyperion Asset Management Ltd bought a new position in SpaceX in the second quarter valued at $201,137,000. K5 Global Advisor LLC purchased a new position in shares of SpaceX during the 2nd quarter valued at about $6,587,531,000. Rik Saylor Financial Inc. purchased a new stake in shares of SpaceX in the 2nd quarter valued at $1,670,000. Finally, Turner Financial Group Inc. purchased a new stake in SpaceX during the second quarter valued at about $1,228,000.

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of the company'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 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 SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Down 0.2%

SpaceX stock opened at $148.03 on Friday. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. The company's fifty day simple moving average is $135.91. The stock has a market capitalization of $1.94 trillion and a P/E ratio of -1,644.78.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The firm's revenue for the quarter was up 91.9% on a year-over-year basis. On average, equities research analysts anticipate that SpaceX will post -0.15 earnings per share for the current fiscal year.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: NASA awarded SpaceX an additional $946 million to extend Crew Dragon missions through 2030, bringing the program’s total commitments to nearly $6 billion. The contract reinforces SpaceX’s government-backed revenue base. NASA award article
• Positive Sentiment: SpaceX’s Nasdaq-100 weighting is expected to double, potentially increasing demand from index-tracking funds. Analysts also point to reusable rockets, Starlink, AI-compute capacity, satellite manufacturing and a possible Tesla-SpaceX combination as longer-term catalysts. Nasdaq-100 weighting article
• Positive Sentiment: The next NASA astronaut mission is scheduled for October 1, while Starship’s upcoming flight is viewed as an important test of SpaceX’s ability to transition from Falcon 9 to its larger reusable-rocket platform. NASA astronaut launch article
• Neutral Sentiment: Elon Musk said SpaceX’s AI model could approach the capabilities of leading models from OpenAI and Anthropic within months. The claim supports the AI opportunity but remains forward-looking and unverified. SpaceX AI article
• Negative Sentiment: Approximately 319 million to 328.4 million locked-up shares became eligible for trading, creating a substantial potential supply overhang. Investors are concerned that early holders may sell into the market after the IPO. Share unlock article
• Negative Sentiment: COO Gwynne Shotwell sold 342,170 shares worth approximately $52.5 million. Although the transaction was made under a pre-arranged Rule 10b5-1 plan, the sale added to investor concerns about insider supply. SEC insider transaction filing
• Negative Sentiment: SpaceX continues to trade at a very demanding valuation while reporting losses, increasing sensitivity to execution risk. Delays or setbacks in Starship, heavy AI spending, the Falcon 9 transition and competition from other satellite providers could pressure the shares further.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPCX. Evercore began coverage on shares of SpaceX in a research report on Tuesday, July 14th. They set an "outperform" rating and a $230.00 price target for the company. Guggenheim started coverage on shares of SpaceX in a report on Friday, August 7th. They set a "buy" rating on the stock. Needham & Company LLC reiterated a "buy" rating and set a $250.00 price objective on shares of SpaceX in a research note on Wednesday, August 5th. Phillip Securities raised shares of SpaceX to a "strong sell" rating and set a $75.00 price target for the company in a research report on Friday, July 31st. Finally, Citigroup cut SpaceX from a "buy" rating to a "sell" rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and seven have given a Sell rating to the company's stock. Based on data from MarketBeat.com, SpaceX has a consensus rating of "Moderate Buy" and an average target price of $218.28.

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, serving commercial, government and scientific customers.

SpaceX's principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.

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