Gradient Investments LLC Makes New Investment in SpaceX $SPCX

Key Points

• Gradient Investments acquired 63,267 SpaceX shares worth approximately $9.5 million in the third quarter, joining several other institutional investors that recently established positions.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $219.77, while SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and better-than-expected earnings.
• SpaceX faces both growth opportunities and risks: Starlink is expanding through spectrum licenses, satellite approvals and an American Airlines deal, while potential $40 billion financing, a large share unlock and delays in India could pressure the stock.

Gradient Investments LLC purchased a new position in SpaceX (NASDAQ:SPCX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 63,267 shares of the company's stock, valued at approximately $9,545,000.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Seaport Research Partners downgraded shares of SpaceX from a "buy" rating to a "neutral" rating in a report on Friday, August 7th. Wells Fargo & Company cut their target price on shares of SpaceX from $215.00 to $212.00 and set an "overweight" rating for the company in a research note on Tuesday, September 8th. Wedbush started coverage on shares of SpaceX in a report on Tuesday, June 30th. They issued an "outperform" rating and a $190.00 price target on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $246.00 price objective on shares of SpaceX in a report on Wednesday, August 5th. Finally, UBS Group restated a "buy" rating on shares of SpaceX in a research report on Tuesday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $219.77.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the business's stock in a transaction dated 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 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 filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Performance

NASDAQ SPCX opened at $160.57 on Friday. The firm's 50 day moving average price is $143.95. SpaceX has a one year low of $104.83 and a one year high of $225.64. The company has a quick ratio of 4.99, a current ratio of 5.12 and a debt-to-equity ratio of 0.29. The company has a market cap of $2.12 trillion and a P/E ratio of -1,784.11.

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

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX agreed to acquire nationwide 800 MHz low-band spectrum licenses from Grain Management, giving Starlink a path to expand into indoor cellular coverage and compete more directly with AT&T, Verizon and T-Mobile. The deal remains subject to final FCC approval. SpaceX Acquires Nationwide Spectrum Licenses
• Positive Sentiment: The FCC approved SpaceX’s next-generation Starlink Mobile constellation of up to 15,000 satellites and waived a ground-carrier leasing requirement, strengthening the company’s direct-to-device strategy. FCC Approval for 15,000 Starlink Satellites
• Positive Sentiment: American Airlines plans to install Starlink internet on more than 1,000 aircraft, adding a substantial commercial customer and supporting recurring connectivity revenue. American Airlines to Add Starlink
• Neutral Sentiment: Elon Musk said he sees a path for SpaceX to reach a valuation in the “tens of trillions,” a bullish long-term forecast but one that offers no near-term financial guidance. Musk’s SpaceX Valuation Prediction
• Negative Sentiment: Reports that SpaceX may raise approximately $40 billion in loans and bonds to purchase Nvidia AI chips intensified concerns about leverage, capital allocation and the risk of spending heavily before AI-compute demand and returns are proven. Credit-default swap costs reportedly reached record levels. Apollo and Banks Discuss SpaceX Financing
• Negative Sentiment: Up to 328.4 million shares are scheduled to become eligible for sale on October 9, creating a potential increase in trading supply and selling pressure. SpaceX Share Unlock
• Negative Sentiment: Starlink’s India launch remains stalled amid a public dispute with local telecom interests and regulators, delaying access to a major potential market. Starlink India Launch Dispute

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 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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