Oppenheimer & Co. Inc. Purchases 123,448 Shares of SpaceX $SPCX

Key Points

• Oppenheimer & Co. increased its SpaceX position by 235% in the third quarter, acquiring 123,448 shares and bringing its total holdings to 175,977 shares valued at approximately $26.5 million. Several other institutional investors also initiated or expanded positions.
• SpaceX reported quarterly revenue of roughly $14.6 billion, up 161% year over year, and exceeded analyst EPS expectations. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $244.97.
• Despite institutional buying and strong reported growth, valuation and insider-selling risks remain: the stock traded near $146.90, while COO Gwynne Shotwell sold 342,170 shares worth about $52.5 million under a pre-arranged trading plan.

Oppenheimer & Co. Inc. raised its position in shares of SpaceX (NASDAQ:SPCX - Free Report) by 235.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,977 shares of the company's stock after acquiring an additional 123,448 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in SpaceX were worth $26,548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SPCX. Viking Fund Management LLC purchased a new stake in SpaceX in the 3rd quarter valued at about $1,358,000. Diversify Advisory Services LLC boosted its stake in SpaceX by 34.0% during the third quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company's stock worth $7,205,000 after buying an additional 12,292 shares during the period. Wedbush Securities Inc. purchased a new position in SpaceX during the second quarter worth about $5,094,000. Avior Wealth Management LLC acquired a new stake in shares of SpaceX during the third quarter valued at about $2,934,000. Finally, Apella Capital LLC increased its position in shares of SpaceX by 218.2% during the third quarter. Apella Capital LLC now owns 8,424 shares of the company's stock valued at $1,412,000 after acquiring an additional 5,777 shares during the last quarter.

SpaceX Price Performance

NASDAQ SPCX opened at $146.90 on Tuesday. The firm has a market cap of $1.94 trillion and a P/E ratio of -1,632.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. The firm has a 50-day moving average price of $149.24. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64.

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

Insider Buying and Selling at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $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 is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a "buy" rating and a $190.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of SpaceX in a research report on Wednesday, October 21st. William Blair reiterated an "outperform" rating on shares of SpaceX in a report on Friday, October 9th. Susquehanna boosted their target price on SpaceX from $173.00 to $176.00 and gave the company a "neutral" rating in a research report on Wednesday, October 21st. Finally, Canaccord Genuity Group began coverage on SpaceX in a research note on Tuesday, July 7th. They set a "buy" rating and a $246.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $244.97.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong Q3 results support the stock. SpaceX reported $14.58 billion in quarterly revenue, up 161% year over year, and $4.4 billion in net income. Adjusted earnings reportedly quadrupled, while its AI business generated $7.6 billion in revenue—more than Starlink. SpaceX's Adjusted Earnings Quadrupled in Q3
• Positive Sentiment: A $40 billion GPU financing commitment could accelerate AI growth. Apollo, Goldman Sachs and other investors will finance Nvidia Vera Rubin chips and related data-center equipment, with leasing expected to begin in the first half of 2027. The capacity is intended to support Grok and cloud customers, strengthening SpaceX’s position in AI infrastructure. SpaceX locks in $40B GPU financing deal with Apollo
• Positive Sentiment: Connectivity expansion is adding potential catalysts. easyJet plans to install Starlink inflight internet, and analysts including Bernstein, Citigroup and JPMorgan have expressed optimism about SpaceX’s AI and connectivity outlook. SpaceX Stock Rises on easyJet Starlink Plans
• Neutral Sentiment: Potential strategic transactions remain speculative. Special committees at Tesla and SpaceX are evaluating a possible combination, while the November midterm elections could affect future government funding and policy relevant to SpaceX. No deal or funding outcome is guaranteed.
• Negative Sentiment: Debt and capital-spending risks are weighing on sentiment. The GPU financing carries roughly $40 billion in principal payments, and SpaceX is committing most of its capital spending to AI. Critics question whether future computing demand and returns will justify the investment, particularly as financing conditions tighten. Jim Chanos on SpaceX's Chip Debt
• Negative Sentiment: Valuation and supply concerns limit upside. SpaceX trades at roughly 61–63 times trailing sales, leaving little room for execution missteps. Upcoming insider share-sale windows could add supply, while Verizon argues Starlink may need years and significant infrastructure spending to become a major wireless competitor.

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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