SpaceX $SPCX Stock Acquired by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services increased its SpaceX stake by 159.6% in the third quarter, adding 380,137 shares to reach 618,257 shares valued at about $93.3 million.
• SpaceX reported quarterly revenue of $14.57 billion, up 161.4% year over year, and EPS of $0.35—above the $0.10 consensus estimate. The company still posted a negative net margin and negative return on equity.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $243.60; ratings included 35 Buy or Strong Buy, nine Hold, and three Sell.

Commonwealth Equity Services LLC boosted its holdings in shares of SpaceX (NASDAQ:SPCX - Free Report) by 159.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 618,257 shares of the company's stock after purchasing an additional 380,137 shares during the period. Commonwealth Equity Services LLC's holdings in SpaceX were worth $93,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SC US Ttgp LTD. purchased a new position in shares of SpaceX during the 2nd quarter worth approximately $20,933,621,000. Darsana Capital Partners LP purchased a new position in shares of SpaceX in the 2nd quarter valued at approximately $17,335,783,000. K5 Global Advisor LLC bought a new stake in shares of SpaceX during the second quarter valued at approximately $6,587,531,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in SpaceX in the third quarter worth $4,224,143,000. Finally, Thrive Capital Management LLC bought a new position in SpaceX in the second quarter worth $3,231,681,000.

SpaceX Price Performance

SPCX stock opened at $134.27 on Friday. The stock has a market capitalization of $1.82 trillion and a PE ratio of 516.42. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The business has a fifty day simple moving average of $149.18.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) 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 business had revenue of $14.57 billion for the quarter. During the same quarter in the prior year, the company posted ($0.36) EPS. SpaceX's revenue was up 161.4% on a year-over-year basis. As a group, analysts anticipate that SpaceX will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

SPCX has been the topic of a number of research reports. DZ Bank began coverage on shares of SpaceX in a report on Friday, August 21st. They set a "sell" rating and a $100.00 target price on the stock. Moffett Nathanson lifted their price target on shares of SpaceX from $131.00 to $142.00 and gave the company a "neutral" rating in a research report on Monday, September 14th. Susquehanna boosted their price target on SpaceX from $173.00 to $176.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 21st. Erste Group Bank began coverage on SpaceX in a research note on Thursday, October 8th. They issued a "hold" rating on the stock. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SpaceX in a research report on Monday, October 19th. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $243.60.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
• Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
• Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
• Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
• Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile

Insiders Place Their Bets

In related news, COO Gwynne Shotwell sold 342,170 shares of the firm's stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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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