SpaceX $SPCX Shares Newly Acquired by QTR Family Wealth LLC

Key Points

• QTR Family Wealth LLC opened a SpaceX position in the third quarter, buying 11,806 shares valued at approximately $1.78 million; the holding represents 0.7% of its portfolio.
• Institutional investors including Viking Fund Management and Avior Wealth Management also established positions, while other funds increased holdings. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $243.60.
• SpaceX reported quarterly EPS of $0.35, beating the $0.10 consensus, and revenue rose 161.4% year over year to $14.57 billion. COO Gwynne Shotwell separately sold 342,170 shares under a pre-arranged trading plan.

QTR Family Wealth LLC bought a new stake in SpaceX (NASDAQ:SPCX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,806 shares of the company's stock, valued at approximately $1,781,000. SpaceX comprises 0.7% of QTR Family Wealth LLC's investment portfolio, making the stock its 28th biggest position.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley restated an "overweight" rating on shares of SpaceX in a report on Wednesday, October 21st. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SpaceX in a research note on Monday, October 19th. Sanford C. Bernstein set a $267.00 price target on shares of SpaceX in a research report on Monday, October 26th. Cantor Fitzgerald boosted their price target on shares of SpaceX from $246.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, October 20th. Finally, Susquehanna boosted their price target on shares of SpaceX from $173.00 to $176.00 and gave the company a "neutral" rating in a research note on Wednesday, October 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.60.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the firm's 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 of the company's stock, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Price Performance

Shares of SpaceX stock opened at $123.62 on Friday. The stock has a market cap of $1.68 trillion and a PE ratio of 475.46. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20. The firm's 50-day moving average price is $149.32. SpaceX has a 12 month low of $104.83 and a 12 month 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. Equities research analysts anticipate that SpaceX will post 0.19 earnings per share for the current year.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starlink Mobile gains a major technology partner. SpaceX selected Qualcomm to supply 5G infrastructure technology for its planned U.S. wireless network, supporting its effort to expand beyond satellite connectivity and compete with established carriers. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
• Positive Sentiment: Analyst coverage offers a counterpoint to the selloff. China Renaissance initiated coverage with a Buy rating and a $194.20 price target, while a separate valuation update cited potential upside from AI and Starlink growth. These are analyst views, not assurances of future performance. Article: SpaceX Stock Today Has These 2 Positives. The Stock Is Still Falling.
• Neutral Sentiment: A proposed change to U.S. launch rules could benefit SpaceX. The proposal may create a more favorable operating environment, but its eventual impact depends on the final rules and implementation. Article: US proposes space launch rule changes in potential boost for SpaceX
• Negative Sentiment: Election results have raised political and regulatory uncertainty. With Democrats controlling Congress and Texas turning blue, investors fear tougher scrutiny and permitting hurdles for AI data centers, as well as obstacles to SpaceX’s expansion and a potential Tesla merger. Article: SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook
• Negative Sentiment: AI exposure and funding needs are weighing on sentiment. The broader AI-stock retreat is hitting SpaceX as investors question the cost and returns of its large computing buildout. Reports that debt-default insurance costs reached a record high add to concerns about perceived credit risk and financing. Article: Elon Musk's SpaceX Default Risk Hits Record High as Democratic Sweep Adds to AI Rout

SpaceX Company 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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