Puff Wealth Management LLC Acquires 10,693 Shares of SpaceX $SPCX

Key Points

• Puff Wealth Management acquired 10,693 SpaceX shares valued at approximately $1.6 million, making the company 1.5% of its portfolio. Several other institutional investors also recently initiated sizable positions.
• SpaceX is reportedly considering approximately $40 billion in financing to purchase Nvidia AI chips and expand its computing business, while FCC approval for up to 15,000 additional Starlink satellites could support growth.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $218.76 target price, but investors remain concerned about the proposed debt burden, elevated valuation and insider share sales.

Puff Wealth Management LLC acquired a new stake in SpaceX (NASDAQ:SPCX - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,693 shares of the company's stock, valued at approximately $1,613,000. SpaceX accounts for 1.5% of Puff Wealth Management LLC's investment portfolio, making the stock its 21st largest position.

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

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX is reportedly in talks to raise approximately $40 billion to purchase Nvidia AI chips and expand its terrestrial computing business. The proposed financing could include roughly $10 billion of bank loans and $30 billion of investment-grade bonds, with Apollo Global Management and major banks involved. If the company successfully monetizes its planned AI capacity, the investment could create a significant new revenue stream. Apollo, banks in talks to finance SpaceX's $40 billion Nvidia GPU purchase
• Positive Sentiment: The FCC approved SpaceX’s plan to deploy up to 15,000 additional Starlink satellites for direct-to-device connectivity and waived a ground-carrier leasing requirement. The decision may accelerate Starlink’s mobile coverage and commercial partnerships. SpaceX wins FCC approval for 15,000 Starlink satellites
• Positive Sentiment: Regulatory proposals to auction additional spectrum for satellite-to-phone services, combined with efforts to streamline rocket licensing, could support Starlink growth and increase SpaceX’s launch cadence. FCC to vote on auctioning prime spectrum
• Neutral Sentiment: Susquehanna raised its SpaceX price target to $173 but maintained a neutral rating, citing strong growth while signaling limited near-term upside at the current valuation. Susquehanna raises price target on SPCX
• Negative Sentiment: The proposed AI purchase would add debt roughly comparable to SpaceX’s annual revenue, raising concerns about interest costs, execution and whether AI-compute cash flow will arrive quickly enough to support the borrowing. This financing risk was the primary reason shares weakened. SpaceX reportedly is looking to raise debt to buy Nvidia chips
• Negative Sentiment: Investors are also monitoring elevated valuation, rising Treasury yields and potential selling ahead of a reported share unlock. ARK Invest’s sale of approximately $9.4 million of SpaceX shares added to the caution. Cathie Wood sold $9.4 million in SpaceX stock

Wall Street Analyst Weigh In

SPCX has been the subject of a number of recent analyst reports. Guggenheim began coverage on shares of SpaceX in a report on Friday, August 7th. They issued a "buy" rating for the company. Barclays raised shares of SpaceX from an "underweight" rating to an "overweight" rating in a research note on Monday, June 22nd. William Blair reiterated an "outperform" rating on shares of SpaceX in a report on Friday, September 11th. Mizuho initiated coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set an "outperform" rating and a $200.00 price objective for the company. Finally, Pivotal Research assumed coverage on SpaceX in a report on Tuesday, September 8th. They set a "buy" rating and a $220.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $218.76.

Insider Buying and Selling at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the company's stock in a transaction on 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Performance

NASDAQ SPCX opened at $167.60 on Thursday. The stock has a market capitalization of $2.21 trillion and a price-to-earnings ratio of -1,862.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. SpaceX has a one year low of $104.83 and a one year high of $225.64. The firm has a 50 day simple moving average of $142.98.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.17. The business had revenue of $7.81 billion for the quarter. The firm's quarterly revenue was up 91.9% compared to the same quarter last year. Sell-side analysts forecast that SpaceX will post 0.09 EPS for the current fiscal year.

SpaceX 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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