SpaceX $SPCX Stock: Gerber Kawasaki Wealth & Investment Management Grows Position

Key Points

• Gerber Kawasaki increased its SpaceX position by 3,085.4% in the third quarter, adding 48,687 shares for a total holding of 50,265 shares valued at approximately $7.6 billion.
• SpaceX reported quarterly EPS of $0.35, beating the $0.10 consensus estimate, while revenue rose 161.4% year over year to $14.57 billion. However, the stock’s valuation remained elevated, with a P/E ratio of 524.5.
• Analysts maintained a generally bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $244.97; potential expansion into wireless through Boost Mobile talks is viewed as an additional growth catalyst.

Gerber Kawasaki Wealth & Investment Management raised its position in shares of SpaceX (NASDAQ:SPCX - Free Report) by 3,085.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,265 shares of the company's stock after purchasing an additional 48,687 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in SpaceX were worth $7,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. SC US Ttgp LTD. purchased a new position in shares of SpaceX during the second quarter valued at $20,933,621,000. Darsana Capital Partners LP purchased a new stake in SpaceX in the second quarter worth about $17,335,783,000. K5 Global Advisor LLC bought a new position in SpaceX during the 2nd quarter worth about $6,587,531,000. Mirae Asset Global Investments Co. Ltd. bought a new position in SpaceX during the 3rd quarter worth about $4,224,143,000. Finally, Thrive Capital Management LLC bought a new position in SpaceX during the 2nd quarter worth about $3,231,681,000.

SpaceX Stock Up 1.2%

Shares of SpaceX stock opened at $136.37 on Tuesday. The stock has a 50 day moving average price of $149.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. The stock has a market cap of $1.80 trillion and a P/E ratio of 524.50.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company's revenue was up 161.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.36) EPS. As a group, equities research analysts forecast that SpaceX will post 0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SPCX. Susquehanna boosted their price target on shares of SpaceX from $173.00 to $176.00 and gave the company a "neutral" rating in a report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $235.00 price objective on shares of SpaceX in a research note on Monday, September 28th. Stifel Nicolaus assumed coverage on shares of SpaceX in a report on Tuesday, July 7th. They set a "buy" rating and a $190.00 price objective on the stock. Clear Str upgraded SpaceX to a "strong-buy" rating in a report on Tuesday, July 7th. Finally, Arete Research set a $450.00 price target on SpaceX in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $244.97.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Boost Mobile talks are the primary catalyst. SpaceX is reportedly discussing either acquiring Boost Mobile or using its network. The deal could provide customers, billing infrastructure and retail distribution, accelerating Starlink’s ambitions to become a major wireless provider. Reuters article
• Positive Sentiment: Strong operating momentum supports the bullish case. Recent reports highlighted $7.6 billion in third-quarter super-intelligence revenue, 13.6 million Starlink subscribers and a 5% sequential increase in consumer average revenue per user. Management also targets substantial expansion of AI-computing capacity through 2027. Seeking Alpha article
• Positive Sentiment: The wireless strategy could broaden SpaceX’s growth profile. Investors see a potential fourth major U.S. mobile operator and an additional revenue engine beyond rockets and satellite broadband. The reports also indicate that several established carriers’ shares weakened on concerns about increased competition. TechCrunch article

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction 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 in the company, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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.

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.