SpaceX $SPCX Stock Acquired by Gallagher Capital Advisors LLC

Key Points

• Gallagher Capital Advisors increased its SpaceX position by 2,015.6% in the third quarter, ending with 34,823 shares valued at approximately $5.25 million and representing 2.7% of its portfolio.
• SpaceX received broadly positive analyst coverage, with a consensus rating of “Moderate Buy” and an average price target of $219.77. The company also reported quarterly revenue of $7.81 billion, up 91.9% year over year, while beating earnings expectations.
• Growth catalysts include Starlink’s spectrum deal, approval for up to 15,000 additional satellites and potential AI-computing expansion; however, regulatory hurdles, heavy investment needs, insider-share selling and possible borrowing for Nvidia chips pose risks.

Gallagher Capital Advisors LLC increased its position in SpaceX (NASDAQ:SPCX - Free Report) by 2,015.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,823 shares of the company's stock after buying an additional 33,177 shares during the period. SpaceX accounts for 2.7% of Gallagher Capital Advisors LLC's portfolio, making the stock its 10th largest holding. Gallagher Capital Advisors LLC's holdings in SpaceX were worth $5,253,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SPCX. SC US Ttgp LTD. bought a new stake in SpaceX in the second quarter worth approximately $20,933,621,000. Darsana Capital Partners LP acquired a new stake in shares of SpaceX in the 2nd quarter valued at $17,335,783,000. K5 Global Advisor LLC acquired a new stake in shares of SpaceX in the 2nd quarter valued at $6,587,531,000. State Street Corp bought a new stake in SpaceX in the second quarter worth $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new position in SpaceX during the second quarter worth $1,366,880,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of SpaceX in a research report on Tuesday, August 25th. Canaccord Genuity Group started coverage on SpaceX in a report on Tuesday, July 7th. They set a "buy" rating and a $246.00 price objective on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of SpaceX in a research note on Tuesday, September 29th. Cantor Fitzgerald restated an "overweight" rating and issued a $246.00 target price on shares of SpaceX in a report on Wednesday, August 5th. Finally, Benchmark began coverage on SpaceX in a report on Monday, June 22nd. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $219.77.

Insider Activity at SpaceX

In other 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 transaction of $52,547,046.90. Following the completion of the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX's low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

SpaceX Stock Performance

Shares of NASDAQ:SPCX opened at $162.57 on Friday. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $145.03. The firm has a market capitalization of $2.14 trillion and a P/E ratio of -1,806.33. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64.

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

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX's primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.

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