SpaceX $SPCX Stake Increased by Inscription Capital LLC

Key Points

• Inscription Capital increased its SpaceX stake by 907% in the third quarter, adding 76,072 shares to hold 84,459 shares worth about $12.7 million.
• COO Gwynne Shotwell sold 342,170 shares for approximately $52.5 million under a pre-arranged trading plan, leaving her with about 2.47 million shares.
• SpaceX shares were reported down 9%, despite quarterly EPS of $0.35 beating the $0.10 consensus estimate and revenue rising 161.4% year over year to $14.57 billion.

Inscription Capital LLC lifted its stake in shares of SpaceX (NASDAQ:SPCX - Free Report) by 907.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 84,459 shares of the company's stock after acquiring an additional 76,072 shares during the period. SpaceX makes up 1.4% of Inscription Capital LLC's investment portfolio, making the stock its 10th biggest position. Inscription Capital LLC's holdings in SpaceX were worth $12,741,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. James T. Borello RIA increased its position in shares of SpaceX by 41.4% during the 3rd quarter. James T. Borello RIA now owns 246 shares of the company's stock valued at $37,000 after purchasing an additional 72 shares during the last quarter. Oakworth Capital Inc. raised its holdings in shares of SpaceX by 17.8% during the 3rd quarter. Oakworth Capital Inc. now owns 483 shares of the company's stock valued at $73,000 after buying an additional 73 shares in the last quarter. Fonville Wealth Management LLC raised its holdings in shares of SpaceX by 3.8% during the 3rd quarter. Fonville Wealth Management LLC now owns 2,719 shares of the company's stock valued at $410,000 after buying an additional 99 shares in the last quarter. Downshift Financial LLC lifted its position in SpaceX by 25.7% in the 3rd quarter. Downshift Financial LLC now owns 553 shares of the company's stock worth $83,000 after buying an additional 113 shares during the last quarter. Finally, Balance Wealth Partners LLC lifted its position in SpaceX by 5.7% in the 3rd quarter. Balance Wealth Partners LLC now owns 2,261 shares of the company's stock worth $341,000 after buying an additional 121 shares during the last quarter.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starlink Mobile gains a major technology partner. SpaceX selected Qualcomm to supply 5G infrastructure technology for its planned U.S. wireless network, supporting its effort to expand beyond satellite connectivity and compete with established carriers. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
• Positive Sentiment: Analyst coverage offers a counterpoint to the selloff. China Renaissance initiated coverage with a Buy rating and a $194.20 price target, while a separate valuation update cited potential upside from AI and Starlink growth. These are analyst views, not assurances of future performance. Article: SpaceX Stock Today Has These 2 Positives. The Stock Is Still Falling.
• Neutral Sentiment: A proposed change to U.S. launch rules could benefit SpaceX. The proposal may create a more favorable operating environment, but its eventual impact depends on the final rules and implementation. Article: US proposes space launch rule changes in potential boost for SpaceX
• Negative Sentiment: Election results have raised political and regulatory uncertainty. With Democrats controlling Congress and Texas turning blue, investors fear tougher scrutiny and permitting hurdles for AI data centers, as well as obstacles to SpaceX’s expansion and a potential Tesla merger. Article: SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook
• Negative Sentiment: AI exposure and funding needs are weighing on sentiment. The broader AI-stock retreat is hitting SpaceX as investors question the cost and returns of its large computing buildout. Reports that debt-default insurance costs reached a record high add to concerns about perceived credit risk and financing. Article: Elon Musk's SpaceX Default Risk Hits Record High as Democratic Sweep Adds to AI Rout

Insider Buying and Selling at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. 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 Down 9.0%

NASDAQ SPCX opened at $123.62 on Friday. 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 0.20, a quick ratio of 3.00 and a current ratio of 3.08. The firm has a 50-day moving average of $149.32. The company has a market cap of $1.68 trillion and a price-to-earnings ratio of 475.46.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (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. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. SpaceX's revenue was up 161.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.36) earnings per share. As a group, equities research analysts forecast that SpaceX will post 0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPCX. Raymond James Financial reaffirmed a "strong-buy" rating on shares of SpaceX in a research note on Wednesday, October 14th. Guggenheim assumed coverage on shares of SpaceX in a research note on Friday, August 7th. They set a "buy" rating on the stock. Morgan Stanley restated an "overweight" rating on shares of SpaceX in a report on Wednesday, October 21st. Moffett Nathanson upped their price objective on shares of SpaceX from $131.00 to $142.00 and gave the company a "neutral" rating in a research note on Monday, September 14th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $245.00 target price on shares of SpaceX in a report on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $243.60.

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.

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