SpaceX $SPCX Shares Newly Purchased by Wedmont Private Capital

Key Points

• Wedmont Private Capital purchased 128,368 SpaceX shares during the third quarter, valued at approximately $20.6 million. Several other institutional investors also established new positions.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $219.77, despite Citigroup downgrading the stock to Sell.
• SpaceX shares traded at $161.28, while the company reported 91.9% year-over-year revenue growth to $7.81 billion. However, insider share sales, potential financing needs for its AI expansion, and newly eligible insider shares remain notable risks.

Wedmont Private Capital bought a new position in shares of SpaceX (NASDAQ:SPCX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 128,368 shares of the company's stock, valued at approximately $20,612,000.

Other institutional investors have also made changes to their positions in the company. Wedbush Securities Inc. bought a new position in SpaceX during the 2nd quarter worth $5,094,000. Hyperion Asset Management Ltd acquired a new stake in shares of SpaceX during the 2nd quarter worth $201,137,000. K5 Global Advisor LLC bought a new position in shares of SpaceX in the second quarter worth $6,587,531,000. Turner Financial Group Inc. acquired a new position in SpaceX in the second quarter valued at about $1,228,000. Finally, Rik Saylor Financial Inc. acquired a new position in SpaceX in the second quarter valued at about $1,670,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Nationwide spectrum acquisition strengthens Starlink Mobile. SpaceX agreed to acquire Grain Management’s nationwide portfolio of low-band 800 MHz spectrum, reportedly covering up to 14 MHz of paired licenses and nearly the entire U.S. population. The lower-frequency spectrum could improve indoor and rural coverage while complementing Starlink’s direct-to-device satellite network, bringing SpaceX closer to becoming a major mobile carrier. Verizon stock heads for worst day since 2002 as SpaceX U.S. network plans whack telcos
• Positive Sentiment: Regulatory progress supports the wireless strategy. The FCC approved SpaceX’s next-generation Starlink constellation of up to 15,000 satellites for mobile and direct-to-device services, without requiring ground-provider leases. The approvals increase the potential scale of Starlink Mobile and contributed to investor optimism. Elon Musk’s SpaceX Gets Green Light from Trump's FCC for 15,000 Starlink Satellites
• Positive Sentiment: Analyst support and AI ambitions added momentum. Barclays initiated coverage with a Buy rating and a $254 price target, while TD Cowen reaffirmed its Buy rating with a $200 target. Investors are also weighing SpaceX’s reported plans to raise as much as $40 billion to purchase Nvidia chips and expand AI-computing capacity, potentially creating another significant growth engine. Two Reasons SpaceX Stock Is Jumping Higher Today
• Neutral Sentiment: Competition is reshaping the communications sector. Verizon, AT&T and T-Mobile sold off sharply on fears that SpaceX could pressure traditional wireless operators, while cell-tower owners may benefit if SpaceX becomes a major network tenant. The deal remains subject to final FCC approval. US, European telecom stocks slide as SpaceX spectrum deal rattles sector
• Negative Sentiment: Financing and share-supply risks remain overhangs. Investors continue to question the leverage required for the AI buildout, while approximately $51 billion of insider shares became eligible for sale. ARK Invest also sold roughly $4.7 million of SpaceX shares, potentially limiting near-term gains. SpaceX's Fleecing of Retail Investors Continues

Analyst Upgrades and Downgrades

SPCX has been the subject of several analyst reports. Citigroup cut shares of SpaceX from a "buy" rating to a "sell" rating in a research report on Friday, August 7th. Argus raised shares of SpaceX from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a research note on Friday, August 7th. Stifel Nicolaus started coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a "buy" rating and a $190.00 price objective for the company. New Street Research upgraded SpaceX to a "strong-buy" rating in a research note on Thursday, June 11th. Finally, Needham & Company LLC reiterated a "buy" rating on shares of SpaceX in a research note on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, SpaceX has a consensus rating of "Moderate Buy" and an average target price of $219.77.

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the 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 directly owned 2,472,035 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Trading Up 0.4%

SpaceX stock traded up $0.71 during mid-day trading on Friday, reaching $161.28. The company had a trading volume of 63,314,072 shares, compared to its average volume of 102,061,672. The company has a fifty day moving average of $143.95. The firm has a market cap of $2.13 trillion and a P/E ratio of -1,792.94. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. 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 (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. SpaceX's revenue was up 91.9% compared to the same quarter last year. Research analysts forecast that SpaceX will post 0.09 EPS for the current 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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