SpaceX $SPCX Shares Purchased by Gemmer Asset Management LLC

Key Points

• Gemmer Asset Management increased its SpaceX stake by 510.5% in the third quarter, acquiring 6,917 additional shares for a total of 8,272 shares valued at approximately $1.25 million. Several other institutional investors also initiated or expanded positions.
• Analyst sentiment remains favorable, with SpaceX receiving a “Moderate Buy” consensus rating and an average price target of $221.34, despite some analysts lowering their targets.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, while investors continue to monitor Starlink expansion, potential Tesla ties and risks related to insider selling, geopolitical exposure and competition in telecommunications.

Gemmer Asset Management LLC boosted its holdings in SpaceX (NASDAQ:SPCX - Free Report) by 510.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,272 shares of the company's stock after acquiring an additional 6,917 shares during the quarter. Gemmer Asset Management LLC's holdings in SpaceX were worth $1,248,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AlphaStar Capital Management LLC boosted its position in shares of SpaceX by 7.2% during the 3rd quarter. AlphaStar Capital Management LLC now owns 9,584 shares of the company's stock worth $1,446,000 after purchasing an additional 646 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC acquired a new position in shares of SpaceX during the 3rd quarter worth $206,000. Forum Financial Management LP acquired a new position in shares of SpaceX during the 3rd quarter worth $932,000. Carroll Advisory Group LLC purchased a new position in shares of SpaceX in the 3rd quarter valued at about $524,000. Finally, Hengehold Capital Management LLC purchased a new position in shares of SpaceX in the 3rd quarter valued at about $210,000.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Prediction-market odds of a Tesla-SpaceX combination before March 2027 rose above 50%, reaching roughly 55%-56% after Tesla unveiled a Roadster using SpaceX thruster technology. Analysts including Dan Ives argue the demonstration supports the idea of a shared engineering and artificial-intelligence platform. Prediction market odds on Tesla-SpaceX merger are above 50% for early 2027
• Positive Sentiment: Evercore raised its SpaceX target, citing progress toward major commercial “proof points” and more than $100 billion in potential revenue. Investors are also focused on third-quarter results due October 20, including Starlink growth, launch cadence and investment needs. SpaceX Q3 Earnings Countdown
• Positive Sentiment: SpaceX continues expanding Starlink’s commercial opportunity, including airline deployments at United Airlines and a planned mobile-network push beginning in rural America. Its reported spectrum strategy could broaden the addressable market beyond satellite broadband. SpaceX Expands Footprint With United Airlines
• Neutral Sentiment: SpaceX and Nvidia are reportedly collaborating on AI data centers in space, with initial satellite launches targeted for 2027. The project could create a new growth avenue, but it remains an early-stage initiative. SpaceX and Nvidia Team Up on AI Data Centers in Space
• Negative Sentiment: Reports that Ukraine’s military Starlink/Starshield access was restricted disrupted drone operations and renewed concerns about SpaceX’s geopolitical exposure and customer reliability. Service reportedly resumed, while President Trump denied ordering the restrictions, leaving responsibility unclear. Trump says White House didn't order Starlink restrictions in Ukraine
• Negative Sentiment: Analysts caution that SpaceX’s spectrum deal still leaves it far smaller than established telecom giants, while upcoming insider share unlocks may add selling pressure. The company also faces scrutiny from a New York City Council AI-safety investigation.

Analysts Set New Price Targets

SPCX has been the subject of several recent analyst reports. Bank of America began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a "buy" rating and a $235.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of SpaceX from $215.00 to $212.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 8th. Wedbush initiated coverage on shares of SpaceX in a report on Tuesday, June 30th. They issued an "outperform" rating and a $190.00 target price for the company. Roth Capital upgraded shares of SpaceX to a "buy" rating in a research report on Monday, June 22nd. Finally, Piper Sandler reduced their price target on shares of SpaceX from $156.00 to $140.00 and set a "neutral" rating for the company in a research report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $221.34.

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction dated 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 sale, the chief operating officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Performance

SpaceX stock opened at $146.03 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The firm has a market capitalization of $1.92 trillion and a price-to-earnings ratio of -1,622.56. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. The firm has a fifty day moving average price of $148.44.

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

About SpaceX

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.

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.