7,700 SpaceX $SPCX Shares Bought by Avantax Planning Partners Inc.

Key Points

• Avantax Planning Partners increased its SpaceX stake by 220.6% in the third quarter, buying 7,700 shares to hold 11,190 shares valued at about $1.69 million.
• Analyst sentiment is broadly positive: SpaceX has a consensus “Moderate Buy” rating and an average price target of $243.60.
• SpaceX reported quarterly revenue of $14.57 billion, up 161.4% year over year, and earnings of $0.35 per share, beating the $0.10 consensus estimate.

Avantax Planning Partners Inc. increased its holdings in shares of SpaceX (NASDAQ:SPCX - Free Report) by 220.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,190 shares of the company's stock after acquiring an additional 7,700 shares during the quarter. Avantax Planning Partners Inc.'s holdings in SpaceX were worth $1,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SPCX. Syntax Research Inc. purchased a new stake in shares of SpaceX during the 2nd quarter valued at $26,000. Atwood & Palmer Inc. bought a new stake in shares of SpaceX during the 2nd quarter worth $29,000. PayPay Securities Corp bought a new stake in shares of SpaceX during the 2nd quarter worth $30,000. Hickory Point Bank & Trust purchased a new position in shares of SpaceX in the 3rd quarter worth about $30,000. Finally, Maryland Capital Advisors Inc. purchased a new position in shares of SpaceX in the 3rd quarter worth about $30,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPCX. Phillip Securities upgraded shares of SpaceX from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, October 23rd. China Renaissance started coverage on shares of SpaceX in a research report on Thursday. They issued a "buy" rating and a $194.20 price objective on the stock. Wall Street Zen upgraded shares of SpaceX from a "sell" rating to a "hold" rating in a research note on Saturday, October 24th. Wolfe Research reissued an "outperform" rating and set a $175.00 target price on shares of SpaceX in a research report on Wednesday, August 26th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of SpaceX in a research report on Wednesday, October 14th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $243.60.

Insider Buying and Selling

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 2,472,035 shares in the company, valued at $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
• Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
• Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
• Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
• Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile

SpaceX Price Performance

SpaceX stock opened at $134.27 on Monday. SpaceX has a one year low of $104.83 and a one year high of $225.64. The stock has a fifty day moving average of $149.18. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.82 trillion and a price-to-earnings ratio of 516.42.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.25. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company had revenue of $14.57 billion during the quarter. During the same quarter last year, the firm posted ($0.36) earnings per share. SpaceX's revenue for the quarter was up 161.4% compared to the same quarter last year. Sell-side analysts expect that SpaceX will post 0.19 earnings per share for the current fiscal year.

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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