Elmwood Wealth Management Inc. Acquires New Position in SpaceX $SPCX

Key Points

• Elmwood Wealth Management acquired 10,541 SpaceX shares in the third quarter, valued at approximately $1.59 million, joining several other institutional investors that recently opened positions.
• Analyst sentiment remains broadly positive: SpaceX has a “Moderate Buy” consensus rating from MarketBeat, with an average price target of $220.06, despite ratings ranging from “Sell” to “Strong Buy.”
• SpaceX shares recently traded at $152.16, while the company reported quarterly revenue of $7.81 billion—up 91.9% year over year—and beat analysts’ EPS expectations; COO Gwynne Shotwell separately sold about $52.5 million in stock under a pre-arranged trading plan.

Elmwood Wealth Management Inc. bought a new position in SpaceX (NASDAQ:SPCX - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,541 shares of the company's stock, valued at approximately $1,590,000.

A number of other institutional investors have also recently bought and sold shares of the business. SC US Ttgp LTD. bought a new stake in SpaceX in the 2nd quarter valued at $20,933,621,000. Darsana Capital Partners LP bought a new position in shares of SpaceX during the 2nd quarter worth about $17,335,783,000. K5 Global Advisor LLC bought a new position in shares of SpaceX during the 2nd quarter worth about $6,587,531,000. State Street Corp acquired a new stake in shares of SpaceX during the 2nd quarter valued at about $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new stake in shares of SpaceX during the 2nd quarter valued at about $1,366,880,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SPCX shares. DZ Bank assumed coverage on shares of SpaceX in a research note on Friday, August 21st. They issued a "sell" rating and a $100.00 target price on the stock. TD Cowen restated a "buy" rating and set a $200.00 price target on shares of SpaceX in a research note on Friday, October 9th. Arete Research set a $450.00 price objective on SpaceX in a report on Tuesday, August 11th. Royal Bank Of Canada reiterated an "outperform" rating on shares of SpaceX in a research note on Monday, September 28th. Finally, Seaport Research Partners cut SpaceX from a "buy" rating to a "neutral" rating in a report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $220.06.

SpaceX Stock Performance

Shares of NASDAQ:SPCX traded down $4.38 on Wednesday, hitting $152.16. The stock had a trading volume of 67,294,011 shares, compared to its average volume of 101,230,219. The company has a 50 day moving average of $146.63. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The company has a market cap of $2.01 trillion and a P/E ratio of -1,690.67.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. The firm's revenue was up 91.9% on a year-over-year basis. As a group, sell-side analysts predict that SpaceX will post 0.07 EPS for the current year.

Insider Buying and Selling

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company'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 sale, the chief operating officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong analyst upside: Morgan Stanley reiterated an Overweight rating with a $300 price target, while Raymond James maintained a Strong Buy rating and an $800 target. The broader analyst consensus also implies meaningful upside from current levels. Morgan Stanley sets SpaceX stock price target
• Positive Sentiment: Starlink continues to scale: SpaceX reportedly added roughly 570,000 subscribers per month in the second quarter, supporting recurring revenue growth from its profitable satellite-internet business. Starlink subscriber growth
• Positive Sentiment: Operational progress: SpaceX successfully launched another NASA resupply mission, while its planned spectrum acquisition could expand Starlink’s direct-to-cell and wireless ambitions. SpaceX NASA resupply mission
• Neutral Sentiment: Long-term growth narrative remains intact: Investors are debating SpaceX’s potential in wireless service, AI infrastructure, orbital data centers and Starship. However, these opportunities require substantial execution and capital before they generate material returns.
• Neutral Sentiment: Starship expansion faces review: The FAA began an environmental assessment of SpaceX’s proposal to conduct as many as 456 Starship launches and landings annually, creating a possible path to greater capacity but also regulatory uncertainty. SpaceX Starship launch expansion
• Negative Sentiment: Ukraine service restrictions increased reputational and political risk: Ukrainian officials said new limits on military Starlink terminals disrupted drone operations. The reports may intensify scrutiny of SpaceX’s role in the conflict and raise concerns about customer reliability and government relationships. Ukraine accuses SpaceX of crippling drone missions
• Negative Sentiment: High funding requirements are weighing on valuation: Reports that SpaceX may seek up to $40 billion in new debt, alongside heavy AI and infrastructure spending, have raised concerns about cash burn, leverage and execution risk. SpaceX seeks new debt
• Negative Sentiment: Regulatory scrutiny persists: SpaceX agreed to testify before the New York City Council in an AI-safety investigation, adding headline and compliance risk. SpaceX AI safety testimony

SpaceX Company Profile

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 designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX's primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.

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