SpaceX $SPCX Stock Acquired by International Assets Investment Management LLC

Key Points

• International Assets Investment Management increased its SpaceX position by 313.2% in the third quarter, adding 31,877 shares to hold 42,054 shares valued at $6.23 million.
• SpaceX reported quarterly earnings of $0.35 per share, beating the $0.10 analyst consensus, while revenue rose 161.4% year over year to $14.57 billion.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $243.60; ratings included 35 Buy or Strong Buy recommendations among 47 analysts.

International Assets Investment Management LLC lifted its position in shares of SpaceX (NASDAQ:SPCX - Free Report) by 313.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,054 shares of the company's stock after buying an additional 31,877 shares during the period. International Assets Investment Management LLC's holdings in SpaceX were worth $6,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. SC US Ttgp LTD. purchased a new position in SpaceX in the second quarter worth approximately $20,933,621,000. Darsana Capital Partners LP acquired a new stake in SpaceX during the second quarter worth $17,335,783,000. K5 Global Advisor LLC purchased a new stake in SpaceX in the second quarter valued at $6,587,531,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in SpaceX in the third quarter valued at $4,224,143,000. Finally, Thrive Capital Management LLC acquired a new position in shares of SpaceX in the 2nd quarter valued at $3,231,681,000.

More SpaceX News

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

SpaceX Stock Up 8.6%

NASDAQ:SPCX opened at $134.27 on Friday. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The stock's fifty day moving average price is $149.18. The firm 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 (NASDAQ:SPCX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company's quarterly revenue was up 161.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.36) earnings per share. On average, sell-side analysts expect that SpaceX will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of the firm's stock in a transaction dated 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. This trade represents a 12.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Erste Group Bank initiated coverage on SpaceX in a report on Thursday, October 8th. They set a "hold" rating for the company. Susquehanna upped their target price on shares of SpaceX from $173.00 to $176.00 and gave the company a "neutral" rating in a research report on Wednesday, October 21st. Wall Street Zen raised shares of SpaceX from a "sell" rating to a "hold" rating in a research note on Saturday, October 24th. Phillip Securities raised shares of SpaceX from a "strong sell" rating to a "strong-buy" rating in a research note on Friday, October 23rd. Finally, UBS Group reiterated an "overweight" rating and set a $300.00 price target on shares of SpaceX in a research report on Wednesday, October 21st. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $243.60.

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.

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