SpaceX $SPCX Shares Newly Bought by Viking Fund Management LLC

Key Points

• Viking Fund Management initiated a SpaceX position by purchasing 9,000 shares worth approximately $1.36 million in the third quarter. Several other institutional investors also added to or established stakes.
• Analysts remain broadly positive, with SpaceX receiving a consensus “Moderate Buy” rating and an average target price of $220.06, compared with shares opening at $152.16.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and beat earnings expectations, but COO Gwynne Shotwell separately sold about $52.5 million in stock under a pre-arranged trading plan.

Viking Fund Management LLC bought a new stake in shares of SpaceX (NASDAQ:SPCX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,000 shares of the company's stock, valued at approximately $1,358,000.

Several other institutional investors and hedge funds have also bought and sold shares of SPCX. Kellett Wealth Advisors LLC bought a new stake in shares of SpaceX in the third quarter valued at $200,000. HBW Advisory Services LLC lifted its position in shares of SpaceX by 55.4% during the 3rd quarter. HBW Advisory Services LLC now owns 12,464 shares of the company's stock valued at $1,880,000 after buying an additional 4,441 shares during the last quarter. Howard Financial Services LTD. bought a new position in shares of SpaceX during the 3rd quarter worth $477,000. ZWJ Investment Counsel Inc. grew its stake in shares of SpaceX by 12.0% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 3,499 shares of the company's stock worth $528,000 after acquiring an additional 374 shares during the period. Finally, Mather Group LLC. increased its holdings in SpaceX by 16.7% in the 3rd quarter. Mather Group LLC. now owns 4,744 shares of the company's stock worth $716,000 after acquiring an additional 679 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPCX. Sanford C. Bernstein restated a "buy" rating on shares of SpaceX in a research note on Monday, September 28th. Wells Fargo & Company cut their target price on shares of SpaceX from $215.00 to $212.00 and set an "overweight" rating for the company in a research report on Tuesday, September 8th. Stifel Nicolaus started coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a "buy" rating and a $190.00 target price for the company. UBS Group reissued a "buy" rating on shares of SpaceX in a research report on Tuesday, September 29th. Finally, HSBC started coverage on shares of SpaceX in a research note on Thursday, July 23rd. They set a "hold" rating and a $115.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $220.06.

SpaceX Price Performance

Shares of NASDAQ:SPCX opened at $152.16 on Thursday. The firm has a fifty day moving average price of $147.51. The company has a market cap of $2.01 trillion and a P/E ratio of -1,690.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. SpaceX has a one year low of $104.83 and a one year high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The company's revenue was up 91.9% on a year-over-year basis. Equities research analysts expect that SpaceX will post 0.07 EPS for the current fiscal year.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Google contract supports revenue visibility: Google is reportedly renting SpaceX computing capacity for approximately $920 million per month under a 33-month agreement potentially worth $30 billion. However, the full value is not guaranteed. Google Just Started Paying SpaceX $920 Million a Month
• Positive Sentiment: Starlink growth remains a key bullish argument: SpaceX reportedly added roughly 570,000 subscribers per month in the second quarter, reinforcing Starlink as the company’s profitable growth engine. Starlink Is Adding 570,000 Subscribers a Month
• Positive Sentiment: Analyst targets imply substantial upside: Morgan Stanley maintained an Overweight rating and a $300 target, while Raymond James reiterated a Strong Buy rating with an $800 target. These forecasts rely on major future growth in Starlink, AI infrastructure and space-based services. Morgan Stanley Sets SpaceX Stock Price Target
• Neutral Sentiment: Merger and wireless expansion speculation is adding volatility: A Barclays analyst reportedly sees a possible Tesla–SpaceX merger by December, but prediction markets are skeptical. Separately, SpaceX’s spectrum acquisition could enable Starlink Mobile, although analysts question whether the company can match terrestrial networks and generate material revenue before 2028. Analyst Sees Tesla-SpaceX Merger Coming
• Negative Sentiment: Starshield restrictions create reputational and political risk: Ukraine says new speed limits on military Starlink terminals disrupted drone operations. Musk attributed any restrictions to the U.S. government and ultimately President Trump, but the controversy could threaten government relationships and raise regulatory concerns. Elon Musk Says Trump Is Responsible for Starshield Curbs
• Negative Sentiment: Capital needs and valuation remain major concerns: SpaceX is reportedly seeking as much as $40 billion in new debt to fund AI, chips, orbital data centers and other projects. Investors are increasingly focused on cash burn, borrowing costs and whether the company’s roughly $2 trillion valuation can be justified by near-term earnings.

Insider Transactions at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the business's stock in a transaction dated 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 in the company, valued at $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Company 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.

Want to see what other hedge funds are holding SPCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SpaceX (NASDAQ:SPCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.