SpaceX $SPCX Shares Purchased by Alphabet Inc.

Key Points

• Alphabet increased its SpaceX stake by 0.7% in the third quarter, buying about 3.85 million shares to reach 555 million shares, or approximately 4.09% of SpaceX. The holding represents 94.8% of Alphabet’s reported portfolio.
• Analysts rate SpaceX a “Moderate Buy” overall, with a consensus price target of $243.60; ratings include 35 Buys or Strong Buys and nine Holds, alongside three Sells.
• SpaceX reported quarterly EPS of $0.35, beating the $0.10 consensus, while revenue rose 161.4% year over year to $14.57 billion. Despite the growth, the company posted a negative net margin of 8.61%.

Alphabet Inc. grew its holdings in shares of SpaceX (NASDAQ:SPCX - Free Report) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 555,043,560 shares of the company's stock after buying an additional 3,854,060 shares during the quarter. SpaceX accounts for about 94.8% of Alphabet Inc.'s holdings, making the stock its biggest position. Alphabet Inc. owned approximately 4.09% of SpaceX worth $83,733,871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Syntax Research Inc. bought a new stake in SpaceX during the 2nd quarter worth approximately $26,000. Atwood & Palmer Inc. bought a new stake in SpaceX during the second quarter worth $29,000. PayPay Securities Corp purchased a new stake in SpaceX in the 2nd quarter valued at $30,000. Marquette Asset Management LLC purchased a new stake in SpaceX in the 2nd quarter valued at $32,000. Finally, Hickory Point Bank & Trust bought a new position in SpaceX during the 3rd quarter valued at $30,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SPCX shares. Sanford C. Bernstein set a $267.00 price objective on shares of SpaceX in a report on Monday, October 26th. HSBC reiterated a "hold" rating on shares of SpaceX in a report on Wednesday, October 21st. Phillip Securities raised shares of SpaceX from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, October 23rd. KeyCorp restated a "sector weight" rating on shares of SpaceX in a report on Wednesday, October 21st. Finally, Deutsche Bank reaffirmed a "buy" rating and issued a $235.00 price objective on shares of SpaceX in a research report on Monday, September 28th. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, SpaceX currently has an average rating of "Moderate Buy" and a consensus target price of $243.60.

Latest SpaceX News

These are some of the SPCX news items that stood out recently:

• Positive Sentiment: SpaceX plans to invest more than $74 billion in supercomputing campuses in Texas and Arizona—about $24 billion in Texas and $50 billion in Arizona. The projects could expand its AI infrastructure capacity and support a major growth area. Reuters article
• Neutral Sentiment: A planned Starship Flight 15, including an attempt to catch both rocket stages, is a high-profile test of SpaceX’s reusability plans. Success could strengthen confidence in its long-term ambitions, while the outcome remains uncertain. Barchart article
• Negative Sentiment: The data-center plans require enormous spending and face local approval and infrastructure questions. Analysts have also cautioned that SpaceX will need to work with Texas officials after recent election results to advance its projects, leaving timing and execution risks. Benzinga article

SpaceX Trading Up 0.1%

NASDAQ SPCX opened at $139.94 on Friday. The business's fifty day simple moving average is $149.12. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. SpaceX has a one year low of $104.83 and a one year high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share 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 during the quarter. During the same quarter in the previous year, the company posted ($0.36) EPS. SpaceX's quarterly revenue was up 161.4% compared to the same quarter last year. Equities analysts predict that SpaceX will post 0.22 EPS for the current year.

Insider Buying and Selling

In related 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 value of $52,547,046.90. Following the transaction, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. This 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 is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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.

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.