SpaceX $SPCX Shares Acquired by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services increased its SpaceX position by 289.3% in the third quarter, adding 84,252 shares to reach 113,372 shares valued at about $17.1 million.
• SpaceX reported third-quarter revenue of $14.57 billion, up 161.4% year over year, and earnings of $0.35 per share, beating the $0.10 consensus estimate. The company selected Qualcomm to provide 5G technology for Starlink Mobile, while investors remain wary of heavy spending and execution risks.
• Analyst sentiment is broadly positive: SpaceX has a “Moderate Buy” consensus rating and an average price target of $244.97. Shares opened at $135.92, and COO Gwynne Shotwell sold 342,170 shares under a pre-arranged trading plan.

Kestra Private Wealth Services LLC lifted its position in SpaceX (NASDAQ:SPCX - Free Report) by 289.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,372 shares of the company's stock after purchasing an additional 84,252 shares during the quarter. Kestra Private Wealth Services LLC's holdings in SpaceX were worth $17,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPCX. Syntax Research Inc. acquired a new position in SpaceX in the 2nd quarter worth approximately $26,000. Atwood & Palmer Inc. acquired a new stake in SpaceX during the 2nd quarter valued at approximately $29,000. PayPay Securities Corp acquired a new stake in SpaceX during the 2nd quarter valued at approximately $30,000. Hickory Point Bank & Trust purchased a new stake in shares of SpaceX in the 3rd quarter valued at $30,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in shares of SpaceX in the 3rd quarter valued at $30,000.

SpaceX Price Performance

SPCX opened at $135.92 on Thursday. The company has a fifty day moving average price of $149.64. SpaceX has a 1 year low of $104.83 and a 1 year high of $225.64. The firm has a market cap of $1.85 trillion and a PE ratio of 522.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating the consensus estimate 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 prior year, the business posted ($0.36) EPS. The firm's quarterly revenue was up 161.4% compared to the same quarter last year. Equities analysts expect that SpaceX will post 0.19 EPS for the current year.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX selected Qualcomm to provide 5G network technology for Starlink Mobile, supporting its plan to build a nationwide wireless service and potentially opening a new revenue stream. SpaceX selects Qualcomm for Starlink Mobile
• Neutral Sentiment: Recent results showed strong momentum: third-quarter revenue rose 161%, while the Super Intelligence segment grew rapidly. However, the AI build-out requires heavy investment, and the eventual returns remain uncertain. SPCX cloud growth reshapes earnings after Q3 beat
• Negative Sentiment: Democratic gains in Congress and key state races have raised concerns about tougher oversight of AI data centers and potential obstacles to SpaceX’s infrastructure plans. The election outcome has also increased uncertainty around a possible SpaceX–Tesla merger. Why SpaceX stock is down today
• Negative Sentiment: Investors also face concerns about elevated spending, execution risks and a valuation that depends heavily on future growth. Commentary on the AI data-center opportunity notes that substantial profits may take time to materialize. SpaceX stock can get a lift from the Anthropic IPO, but remains unappealing

Analysts Set New Price Targets

SPCX has been the subject of several recent research reports. KeyCorp reissued a "sector weight" rating on shares of SpaceX in a report on Wednesday, October 21st. Guggenheim assumed coverage on shares of SpaceX in a research report on Friday, August 7th. They set a "buy" rating for the company. Barclays upped their price target on shares of SpaceX from $254.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, October 21st. Mizuho set a $205.00 price target on SpaceX in a research report on Wednesday, October 21st. Finally, Cantor Fitzgerald lifted their price objective on SpaceX from $246.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, October 20th. Four 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 company's stock. According to data from MarketBeat.com, SpaceX presently has a consensus rating of "Moderate Buy" and an average price target of $244.97.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 2,472,035 shares of the company's stock, valued at $379,630,414.95. This represents a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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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