CWA Asset Management Group LLC Purchases 37,641 Shares of SpaceX $SPCX

Key Points

• CWA Asset Management Group increased its SpaceX position by 198.7% in the third quarter, acquiring 37,641 additional shares for a total holding of 56,585 shares valued at approximately $8.54 billion.
• Several major institutional investors, including SC US Ttgp, Darsana Capital Partners, K5 Global Advisor and State Street, also established or expanded significant SpaceX positions during the second quarter.
• Insider activity was mixed: COO Gwynne Shotwell sold 342,170 shares worth approximately $52.5 million under a pre-arranged Rule 10b5-1 plan, while analysts maintained an overall “Moderate Buy” consensus with an average price target of $221.44.

CWA Asset Management Group LLC boosted its position in SpaceX (NASDAQ:SPCX - Free Report) by 198.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,585 shares of the company's stock after acquiring an additional 37,641 shares during the period. CWA Asset Management Group LLC's holdings in SpaceX were worth $8,536,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SPCX. SC US Ttgp LTD. bought a new stake in shares of SpaceX during the second quarter valued at approximately $20,933,621,000. Darsana Capital Partners LP bought a new position in shares of SpaceX in the 2nd quarter worth $17,335,783,000. K5 Global Advisor LLC bought a new position in shares of SpaceX in the 2nd quarter worth $6,587,531,000. State Street Corp bought a new position in shares of SpaceX in the 2nd quarter worth $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new stake in SpaceX in the 2nd quarter valued at $1,366,880,000.

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk pledges shares to U.S. children: Musk said he plans to give one of his SpaceX shares to every American child next year—potentially covering roughly 73 million children and representing more than $10 billion at recent prices. The pledge generated significant publicity and may broaden public awareness and future investor interest in SpaceX. Because the shares would reportedly come from Musk personally, the proposal would not necessarily dilute existing SPCX shareholders, although eligibility, timing, custody and tax details remain unclear. Elon Musk says he'll give a SpaceX share to every child in America next year
• Positive Sentiment: Earnings anticipation: SpaceX is scheduled to report third-quarter results after the market close on October 20. Analysts reportedly expect approximately $12.9 billion in revenue and $0.14 in earnings per share, while options markets imply a potentially large post-earnings move. Investors will focus on Starlink cash flow, AI-computing revenue, launch activity and management’s spending plans. SpaceX Q3 earnings preview
• Neutral Sentiment: Growth investments remain in focus: SpaceX is seeking approval to substantially increase Starship launch activity and plans a 32-mile natural-gas pipeline serving its Florida facilities. These projects could support higher launch volume and reduce logistics costs, but they also reinforce concerns about heavy capital spending.
• Neutral Sentiment: Analyst support: Bernstein reiterated a Buy rating and a $248 price target, implying substantial upside from recent levels. However, estimates vary widely because SpaceX’s valuation increasingly depends on Starlink and AI rather than rocket launches alone. Bernstein sets SpaceX stock price target
• Negative Sentiment: Execution and valuation risks: Analysts warn that AI expansion carries substantial costs, while a revenue miss or higher-than-expected 2027 capital expenditures could pressure the stock after earnings. Insider-share lockup releases and uncertainty surrounding the proposed giveaway may also increase supply and volatility. SpaceX earnings will be all about AI

SpaceX Stock Up 1.3%

SPCX stock opened at $147.96 on Tuesday. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.95 trillion and a price-to-earnings ratio of -1,644.00. The firm has a 50 day simple moving average of $148.63. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The business's revenue for the quarter was up 91.9% compared to the same quarter last year. On average, research analysts expect that SpaceX will post 0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SPCX. UBS Group restated a "buy" rating on shares of SpaceX in a research note on Tuesday, September 29th. Clear Str upgraded shares of SpaceX to a "strong-buy" rating in a report on Tuesday, July 7th. Needham & Company LLC reaffirmed a "buy" rating on shares of SpaceX in a research note on Wednesday, September 30th. Erste Group Bank assumed coverage on shares of SpaceX in a report on Thursday, October 8th. They set a "hold" rating for the company. Finally, Wells Fargo & Company decreased their target price on shares of SpaceX from $215.00 to $212.00 and set an "overweight" rating for the company in a research report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $221.44.

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.

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