Artemis Wealth Advisors LLC Buys New Position in SpaceX $SPCX

Key Points

• Artemis Wealth Advisors initiated a SpaceX position, buying 324,520 shares worth about $49 million. The holding represents 6% of its portfolio and is its second-largest position.
• 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.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $243.60. COO Gwynne Shotwell separately sold 342,170 shares under a pre-arranged trading plan.

Artemis Wealth Advisors LLC bought a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 324,520 shares of the company's stock, valued at approximately $48,957,000. SpaceX comprises 6.0% of Artemis Wealth Advisors LLC's investment portfolio, making the stock its 2nd largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPCX. King Luther Capital Management Corp increased its position in SpaceX by 43.1% in the 3rd quarter. King Luther Capital Management Corp now owns 72,384 shares of the company's stock valued at $10,920,000 after acquiring an additional 21,800 shares in the last quarter. Winthrop Capital Management LLC grew its stake in shares of SpaceX by 448.0% during the third quarter. Winthrop Capital Management LLC now owns 274 shares of the company's stock valued at $41,000 after purchasing an additional 224 shares during the last quarter. CFM Wealth Partners LLC acquired a new stake in shares of SpaceX in the third quarter valued at approximately $452,000. Maryland State Retirement & Pension System raised its position in SpaceX by 29.9% in the 3rd quarter. Maryland State Retirement & Pension System now owns 37,389 shares of the company's stock worth $5,641,000 after purchasing an additional 8,607 shares during the last quarter. Finally, Advisor Resource Council bought a new position in SpaceX in the 3rd quarter worth approximately $461,000.

SpaceX Stock Performance

SPCX opened at $139.75 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a fifty day moving average price of $149.13.

SpaceX (NASDAQ:SPCX - Get Free Report) last released 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. The company had revenue of $14.57 billion during the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The firm's quarterly revenue was up 161.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.36) EPS. On average, analysts forecast that SpaceX will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Gwynne Shotwell sold 342,170 shares of the business's stock in a transaction on 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 owned 2,472,035 shares of the company's stock, 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 document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX News Summary

Investors following SPCX have been watching these news items:

• Positive Sentiment: The FCC accepted SpaceX’s application to acquire 546 spectrum licenses, a step toward its planned nationwide 5G push with Starlink. The deal could expand the company’s addressable market, though it still requires regulatory approval. Article: SpaceX Scores Key FCC Breakthrough in $8 Billion Spectrum Deal
• Positive Sentiment: Recent coverage also highlighted strong operating momentum: SpaceX reported record quarterly revenue of about $14.6 billion, up 161% year over year, and a $4.4 billion profit. Its expanding AI and Starlink businesses offer longer-term growth potential. Article: Is SpaceX Stock a Bargain at Today’s Prices?
• Negative Sentiment: Coverage also flagged scrutiny of Starlink speeds and a court ruling allowing a sexual-harassment case against SpaceX to proceed, adding service-quality and legal risks to the near-term outlook. Article: SpaceX stock slips ahead of Starship test as Starlink speeds face scrutiny

Analyst Ratings Changes

A number of research analysts have commented on SPCX shares. Argus upgraded SpaceX from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a research report on Friday, August 7th. Piper Sandler restated a "neutral" rating on shares of SpaceX in a research report on Wednesday, October 21st. HSBC reiterated a "hold" rating on shares of SpaceX in a report on Wednesday, October 21st. Evercore reiterated an "outperform" rating and issued a $275.00 price objective on shares of SpaceX in a research report on Friday, October 16th. Finally, Deutsche Bank reissued a "buy" rating and set a $235.00 price objective on shares of SpaceX in a report on Monday, September 28th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $243.60.

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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