SpaceX $SPCX Shares Purchased by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management increased its SpaceX position by 78.7% in the third quarter, adding 17,327 shares for a total holding of 39,339 shares valued at approximately $5.94 million. Several other institutional investors also initiated or expanded positions.
• SpaceX reported strong third-quarter results: revenue rose 161% year over year to about $14.58 billion, while EPS of $0.35 exceeded the $0.10 consensus estimate. Its AI business became the largest revenue contributor, and management issued an upbeat outlook supported by a roughly $63 billion backlog.
• Risks remain despite positive momentum, including heavy capital spending, potential insider selling, governance uncertainty surrounding a possible Tesla merger, and execution and funding challenges tied to the AI expansion.

Axxcess Wealth Management LLC grew its position in shares of SpaceX (NASDAQ:SPCX - Free Report) by 78.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,339 shares of the company's stock after buying an additional 17,327 shares during the period. Axxcess Wealth Management LLC's holdings in SpaceX were worth $5,935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPCX. Syntax Research Inc. acquired a new position in shares of SpaceX during the 2nd quarter worth approximately $26,000. Atwood & Palmer Inc. bought a new position in shares of SpaceX during the second quarter worth approximately $29,000. PayPay Securities Corp bought a new position in shares of SpaceX during the second quarter worth approximately $30,000. Marquette Asset Management LLC bought a new stake in shares of SpaceX in the second quarter valued at approximately $32,000. Finally, Hickory Point Bank & Trust acquired a new stake in SpaceX during the third quarter worth approximately $30,000.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong Q3 results: SpaceX reported $14.58 billion in revenue, up 161% year over year, and earnings of $0.35 per share versus the $0.10 consensus estimate. Net income reached approximately $4.4 billion, compared with a loss a year earlier. SpaceX quarterly revenue jumps, beats estimates as AI business surges
• Positive Sentiment: AI business is scaling rapidly: The Super Intelligence segment generated roughly $7.56 billion in revenue, up more than eightfold, and became SpaceX’s largest revenue contributor. Management said new computing deployments are currently producing payback in less than a year, helping validate the company’s AI infrastructure strategy. Why SpaceX Stock Popped After Earnings
• Positive Sentiment: Upbeat outlook and analyst support: SpaceX guided to $33 billion-$37 billion in first-quarter 2027 revenue, while its backlog reached about $63 billion. JPMorgan raised its price target to $500, and other firms including Wells Fargo, TD Cowen and Needham also increased targets or reiterated bullish ratings. Top Analysts Boost Price Targets After Q3 Beat
• Positive Sentiment: Merger speculation added momentum: Elon Musk called a Tesla-SpaceX merger a good idea, and both companies formed independent committees to examine a transaction. A combination could create synergies across AI, vehicles, robotics, connectivity and data. However, no deal is certain and shareholder approval would be required. SpaceX and Tesla boards form special committees to review merger
• Neutral Sentiment: Starlink remains an important financial base: Connectivity revenue rose 69% to approximately $5.25 billion, with 13.6 million consumer subscribers and strong enterprise and government growth. Investors are watching whether subscriber expansion and direct-to-device plans can support the AI buildout.
• Negative Sentiment: Capital intensity remains the key risk: SpaceX spent about $19.6 billion on capital expenditures in the quarter and expects $35 billion-$40 billion in fourth-quarter spending. Analysts have warned that continued AI expansion could require substantial borrowing and create execution, power-availability and cash-flow risks. SpaceX Bulls Get Louder After Q3 Earnings Print
• Negative Sentiment: Potential supply and governance overhangs: Upcoming insider share unlocks could increase selling pressure, while concerns about Starlink’s geopolitical exposure and the uncertain terms of any Tesla merger remain risks to valuation.

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the sale, the chief operating officer owned 2,472,035 shares of the company's stock, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Trading Up 7.8%

NASDAQ:SPCX opened at $159.31 on Thursday. The business's 50-day moving average price is $149.18. The company has a market capitalization of $2.10 trillion and a PE ratio of -1,770.11. SpaceX has a 1-year low of $104.83 and a 1-year 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 posted 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. The business had revenue of $14.57 billion for the quarter. During the same quarter in the previous year, the company posted ($0.36) EPS. SpaceX's revenue for the quarter was up 161.4% compared to the same quarter last year. As a group, equities analysts forecast that SpaceX will post 0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

SPCX has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SpaceX in a research note on Monday. Barclays upped their price objective on shares of SpaceX from $254.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday. Arete Research set a $450.00 target price on shares of SpaceX in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of SpaceX from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd. Finally, Argus upgraded shares of SpaceX from a "hold" rating to a "buy" rating and set a $160.00 price target on the stock in a research report on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $243.08.

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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