North Dakota State Investment Board Makes New $2.57 Million Investment in SpaceX $SPCX

Key Points

• North Dakota State Investment Board acquired 17,052 SpaceX shares in the third quarter, valued at approximately $2.57 million, joining several other institutional investors that recently established positions.
• SpaceX reported quarterly revenue of about $14.57 billion, up 161.4% year over year, and EPS of $0.35 versus analysts’ $0.10 estimate. Starlink customer growth and rapidly expanding AI revenue supported the strong results.
• Shares opened at $143.89, down 0.9%, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $244.97; however, the company’s very high valuation and potential insider selling remain key risks.

North Dakota State Investment Board bought a new stake in SpaceX (NASDAQ:SPCX - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,052 shares of the company's stock, valued at approximately $2,572,000.

Other hedge funds have also bought and sold shares of the company. SC US Ttgp LTD. bought a new position in SpaceX during the second quarter worth $20,933,621,000. Darsana Capital Partners LP acquired a new position in shares of SpaceX in the second quarter valued at $17,335,783,000. K5 Global Advisor LLC bought a new position in shares of SpaceX in the second quarter valued at about $6,587,531,000. Thrive Capital Management LLC bought a new position in shares of SpaceX in the second quarter valued at about $3,231,681,000. Finally, State Street Corp acquired a new stake in shares of SpaceX during the 2nd quarter worth about $1,858,329,000.

Insider Transactions at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the firm's 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 completion of the sale, the chief operating officer directly owned 2,472,035 shares of the company's stock, 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 SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong quarterly growth and AI momentum: SpaceX reported $14.58 billion in quarterly revenue, up 161.4% year over year, and EPS of $0.35 versus the $0.10 consensus estimate. Its AI revenue reportedly increased 830%, while the renamed “Super Intelligence” division has become the company’s fastest-growing business. SpaceX AI growth article
• Positive Sentiment: Starlink continues to scale: The satellite internet business added 1.6 million customers, increased average revenue per user and remains SpaceX’s largest source of operating profit. Growing airline adoption and broader connectivity demand reinforce the commercial opportunity. Starlink customer growth article
• Positive Sentiment: Institutional and analyst support: Nvidia disclosed an approximately $18 billion SpaceX stake and is also a major supplier, while Bank of America added SPCX to its “US 1” list. RBC reportedly sees substantial additional upside. Nvidia SpaceX investment article
• Neutral Sentiment: Large long-term ambitions: Elon Musk discussed a potential capacity of 10,000 Starship launches annually from Louisiana and a possible Tesla-SpaceX combination. Both ideas could expand SpaceX’s addressable market, but they remain ambitious and subject to execution and shareholder-approval risks. Starship launch capacity article
• Negative Sentiment: Valuation and execution concerns: With a market capitalization near $1.9 trillion and a reported P/E ratio above 550, investors have little tolerance for disappointment. Analysts also question whether AI capacity additions and a major GPU lease can earn adequate returns as competitors add supply. SpaceX AI infrastructure risk article
• Negative Sentiment: Potential selling pressure: Nearly 3.9 billion shares have reportedly cleared IPO lockups, raising concerns that insiders and early investors could sell into a still-volatile market. Separately, T-Mobile’s CEO said there is “no room” for a direct SpaceX wireless-carrier deal, limiting near-term telecom upside. SpaceX lockup article
• Negative Sentiment: Customer-concentration risk: SpaceX’s potential Anthropic relationship is sizable, but the contract can reportedly be canceled with 90 days’ notice after the initial period, unlike larger minimum-spend commitments held by Amazon, Alphabet and Microsoft. Anthropic SpaceX contract article

SpaceX Trading Down 0.9%

Shares of SPCX stock opened at $143.89 on Friday. The firm has a market capitalization of $1.90 trillion and a PE ratio of 553.42. The company has a 50-day moving average of $149.55. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.25. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company had revenue of $14.57 billion for the quarter. During the same quarter in the previous year, the firm earned ($0.36) EPS. The firm's revenue was up 161.4% on a year-over-year basis. Sell-side analysts forecast that SpaceX will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPCX. Evercore restated an "outperform" rating and set a $275.00 price objective on shares of SpaceX in a report on Friday, October 16th. Barclays increased their target price on SpaceX from $254.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 21st. Wolfe Research reissued an "outperform" rating and set a $175.00 price target on shares of SpaceX in a report on Wednesday, August 26th. Oppenheimer boosted their price target on SpaceX from $250.00 to $280.00 and gave the company an "outperform" rating in a research note on Wednesday, September 2nd. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of SpaceX in a report on Wednesday, October 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.97.

About SpaceX

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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