SpaceX $SPCX Stock: Park Avenue Securities LLC Increases Stake

Key Points

• Park Avenue Securities increased its SpaceX stake by 208.6% in the third quarter, ending with 47,729 shares valued at approximately $7.2 million. Several other investment firms also raised their holdings.
• Analyst sentiment is broadly positive: SpaceX has a “Moderate Buy” consensus rating and an average price target of $244.97, despite shares opening at $145.23 and trading at a very high P/E ratio of 558.58.
• Third-quarter revenue rose 161.4% year over year to $14.57 billion, and earnings exceeded estimates, but the company remains unprofitable with a negative net margin. Investors also face risks from the costly AI expansion, elevated valuation, launch disruptions and insider selling.

Park Avenue Securities LLC lifted its holdings in shares of SpaceX (NASDAQ:SPCX - Free Report) by 208.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,729 shares of the company's stock after purchasing an additional 32,262 shares during the quarter. Park Avenue Securities LLC's holdings in SpaceX were worth $7,200,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. James T. Borello RIA grew its position in shares of SpaceX by 41.4% in 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 period. Downshift Financial LLC raised its holdings in SpaceX by 25.7% during 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 period. Barrett & Company Inc. raised its holdings in SpaceX by 62.5% during the 3rd quarter. Barrett & Company Inc. now owns 325 shares of the company's stock worth $49,000 after buying an additional 125 shares during the period. Dedeker Financial LLC raised its holdings in SpaceX by 8.0% during the 3rd quarter. Dedeker Financial LLC now owns 1,697 shares of the company's stock worth $256,000 after buying an additional 125 shares during the period. Finally, Trifecta Capital Advisors LLC lifted its stake in SpaceX by 112.5% in the third quarter. Trifecta Capital Advisors LLC now owns 238 shares of the company's stock valued at $36,000 after buying an additional 126 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPCX. Erste Group Bank started coverage on shares of SpaceX in a report on Thursday, October 8th. They issued a "hold" rating for the company. TD Cowen raised their price objective on shares of SpaceX from $200.00 to $224.00 and gave the stock a "buy" rating in a report on Wednesday, October 21st. Argus upgraded shares of SpaceX from a "hold" rating to a "buy" rating and set a $160.00 price objective on the stock in a report on Friday, August 7th. Stifel Nicolaus began coverage on shares of SpaceX in a research report on Tuesday, July 7th. They issued a "buy" rating and a $190.00 price objective on the stock. Finally, UBS Group reaffirmed an "overweight" rating and issued a $300.00 target price on shares of SpaceX in a research note on Wednesday, October 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $244.97.

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: AI business is becoming SpaceX’s main growth driver. Elon Musk said the company’s “Super Intelligence” division is now larger than its other segments, generating approximately $7.56 billion of third-quarter revenue. Analysts and bullish commentary suggest rapid AI-infrastructure growth could support substantially higher revenue and share prices over the next several years. Elon Musk Says SpaceX Is Now a Super Intelligence Company
• Positive Sentiment: Quarterly results and Starlink momentum remain strong. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, while Starlink added 1.6 million customers and increased average revenue per user. These results reinforce the company’s operating-growth story. SpaceX’s Starlink Just Added 1.6 Million Customers
• Positive Sentiment: Analyst support is providing an upside counterweight. Bernstein raised its price target to $268 from $248 and maintained an Outperform rating, citing AI infrastructure and potential orbital data centers. Bank of America also added SpaceX to its list of favored U.S. stocks. SpaceX Stock Rises as Analysts See More Upside
• Neutral Sentiment: Potential wireless expansion and a Tesla merger remain speculative. Musk says SpaceX could build a wireless carrier within two to three years, while Tesla and SpaceX committees are examining a possible merger. Neither development has been finalized, and both could require significant capital or create governance concerns. Elon Musk Says He Can Build a Wireless Carrier
• Negative Sentiment: Investors are concerned about the cost of the AI build-out. SpaceX committed to roughly $40 billion in GPU financing, while a large majority of its reported capital expenditures is directed toward AI. Critics argue that the business has not yet fully paid for this expansion and could face substantial debt and customer-concentration risks, particularly involving Anthropic. SpaceX’s AI Boom Has Yet to Pay for Its Build-Out
• Negative Sentiment: Valuation and IPO volatility are limiting enthusiasm. With a market capitalization near $1.9 trillion and a very high earnings multiple, analysts warn that strong results may already be reflected in the stock. Research on IPOs also highlights the risk of sharp declines during the first year of public trading. A six-week pause in Florida launches and a proposed $3.42 billion share shelf registration add further uncertainty.

SpaceX Stock Down 2.3%

NASDAQ SPCX opened at $145.23 on Thursday. 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 12-month low of $104.83 and a 12-month high of $225.64. The firm has a market capitalization of $1.91 trillion and a P/E ratio of 558.58. The firm has a 50 day simple moving average of $149.46.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.25. The business had revenue of $14.57 billion for the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The business's revenue for the quarter was up 161.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.36) EPS. As a group, sell-side analysts expect that SpaceX will post 0.13 EPS for the current year.

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the business's stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the sale, the chief operating officer directly owned 2,472,035 shares of the company's stock, valued at $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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.

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