SpaceX $SPCX Shares Bought by Pinnacle Wealth Planning Services Inc.

Key Points

• Pinnacle Wealth Planning Services increased its SpaceX position by 459.7% in the third quarter, owning 39,859 shares valued at approximately $6.0 million. Several other institutional investors also added or initiated positions.
• SpaceX reported third-quarter revenue of about $14.6 billion, up 161% year over year, and exceeded earnings expectations, supported by strong Starlink customer growth and expanding AI infrastructure operations.
• Despite bullish analyst ratings and a consensus price target of $244.97, shares traded down 2.3% near $145, while the company’s very high valuation, AI build-out costs, insider selling and execution risks remain concerns.

Pinnacle Wealth Planning Services Inc. grew its position in shares of SpaceX (NASDAQ:SPCX - Free Report) by 459.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,859 shares of the company's stock after purchasing an additional 32,738 shares during the period. SpaceX makes up about 0.6% of Pinnacle Wealth Planning Services Inc.'s holdings, making the stock its 27th largest holding. Pinnacle Wealth Planning Services Inc.'s holdings in SpaceX were worth $6,013,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Dakota State Investment Board acquired a new stake in shares of SpaceX in the third quarter valued at $2,572,000. VestGen Advisors LLC raised its holdings in shares of SpaceX by 285.5% in the 3rd quarter. VestGen Advisors LLC now owns 37,855 shares of the company's stock valued at $5,711,000 after buying an additional 28,035 shares during the period. Vaquero Private Wealth Ltd. acquired a new position in SpaceX during the 3rd quarter worth about $321,000. Thrive Capital Management LLC acquired a new position in SpaceX during the 2nd quarter worth about $3,231,681,000. Finally, Laurel Wealth Advisors LLC boosted its holdings in SpaceX by 1,683.8% during the 3rd quarter. Laurel Wealth Advisors LLC now owns 36,995 shares of the company's stock valued at $5,581,000 after acquiring an additional 34,921 shares during the period.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: AI business is becoming SpaceX’s main growth driver. Elon Musk said the company’s “Super Intelligence” division is now larger than its other segments, generating approximately $7.56 billion of third-quarter revenue. Analysts and bullish commentary suggest rapid AI-infrastructure growth could support substantially higher revenue and share prices over the next several years. Elon Musk Says SpaceX Is Now a Super Intelligence Company
• Positive Sentiment: Quarterly results and Starlink momentum remain strong. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, while Starlink added 1.6 million customers and increased average revenue per user. These results reinforce the company’s operating-growth story. SpaceX’s Starlink Just Added 1.6 Million Customers
• Positive Sentiment: Analyst support is providing an upside counterweight. Bernstein raised its price target to $268 from $248 and maintained an Outperform rating, citing AI infrastructure and potential orbital data centers. Bank of America also added SpaceX to its list of favored U.S. stocks. SpaceX Stock Rises as Analysts See More Upside
• Neutral Sentiment: Potential wireless expansion and a Tesla merger remain speculative. Musk says SpaceX could build a wireless carrier within two to three years, while Tesla and SpaceX committees are examining a possible merger. Neither development has been finalized, and both could require significant capital or create governance concerns. Elon Musk Says He Can Build a Wireless Carrier
• Negative Sentiment: Investors are concerned about the cost of the AI build-out. SpaceX committed to roughly $40 billion in GPU financing, while a large majority of its reported capital expenditures is directed toward AI. Critics argue that the business has not yet fully paid for this expansion and could face substantial debt and customer-concentration risks, particularly involving Anthropic. SpaceX’s AI Boom Has Yet to Pay for Its Build-Out
• Negative Sentiment: Valuation and IPO volatility are limiting enthusiasm. With a market capitalization near $1.9 trillion and a very high earnings multiple, analysts warn that strong results may already be reflected in the stock. Research on IPOs also highlights the risk of sharp declines during the first year of public trading. A six-week pause in Florida launches and a proposed $3.42 billion share shelf registration add further uncertainty.

SpaceX Trading Down 2.3%

NASDAQ:SPCX opened at $145.23 on Thursday. The stock has a market capitalization of $1.91 trillion and a price-to-earnings ratio of 558.58. The company has a fifty day moving average of $149.46. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. 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 earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.10 by $0.25. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The firm had revenue of $14.57 billion during the quarter. During the same period in the previous year, the firm earned ($0.36) earnings per share. The company's revenue for the quarter was up 161.4% compared to the same quarter last year. Equities analysts forecast that SpaceX will post 0.13 EPS for the current year.

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction dated Tuesday, September 22nd. The stock was 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. This trade represents a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPCX. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SpaceX in a research report on Monday, October 19th. Cantor Fitzgerald increased their price target on shares of SpaceX from $246.00 to $345.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 20th. Evercore reissued an "outperform" rating and set a $275.00 price target on shares of SpaceX in a research report on Friday, October 16th. HSBC reissued a "hold" rating on shares of SpaceX in a research note on Wednesday, October 21st. Finally, Raymond James Financial restated a "strong-buy" rating on shares of SpaceX in a report on Wednesday, October 14th. Four analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $244.97.

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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