SpaceX $SPCX Stock Purchased by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth increased its SpaceX stake by 3,701.4% in the third quarter, acquiring 145,762 additional shares for a total position of 149,700 shares valued at approximately $22.6 million. Several other institutional investors also raised their holdings.
• SpaceX shares opened at $146.03 and were trading below their 50-day moving average, despite strong operating growth: quarterly revenue rose 91.9% year over year to $7.81 billion, while EPS of negative $0.09 beat expectations.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $221.34, although insider selling and concerns surrounding Starlink’s geopolitical exposure could weigh on the stock.

SteelPeak Wealth LLC grew its holdings in shares of SpaceX (NASDAQ:SPCX - Free Report) by 3,701.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,700 shares of the company's stock after acquiring an additional 145,762 shares during the quarter. SteelPeak Wealth LLC's holdings in SpaceX were worth $22,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of SpaceX by 61.0% during the third quarter. IFP Advisors Inc now owns 84,890 shares of the company's stock worth $12,807,000 after purchasing an additional 32,154 shares in the last quarter. Ariston Services Group raised its stake in SpaceX by 81.2% in the third quarter. Ariston Services Group now owns 23,696 shares of the company's stock valued at $3,575,000 after purchasing an additional 10,621 shares in the last quarter. CRA Financial Services LLC raised its stake in SpaceX by 52.6% in the third quarter. CRA Financial Services LLC now owns 7,624 shares of the company's stock valued at $1,150,000 after purchasing an additional 2,629 shares in the last quarter. Finer Wealth Management Inc. raised its stake in SpaceX by 22.6% in the third quarter. Finer Wealth Management Inc. now owns 2,927 shares of the company's stock valued at $442,000 after purchasing an additional 539 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC lifted its position in SpaceX by 201.1% during the third quarter. Robertson Stephens Wealth Management LLC now owns 22,087 shares of the company's stock valued at $3,332,000 after purchasing an additional 14,752 shares during the last quarter.

SpaceX Trading Down 1.7%

Shares of NASDAQ SPCX opened at $146.03 on Friday. The firm's 50-day moving average price is $148.44. The stock has a market cap of $1.92 trillion and a PE ratio of -1,622.56. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The firm's revenue for the quarter was up 91.9% on a year-over-year basis. On average, analysts forecast that SpaceX will post 0.07 EPS for the current fiscal year.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the business'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 completion of the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Prediction-market odds of a Tesla-SpaceX combination before March 2027 rose above 50%, reaching roughly 55%-56% after Tesla unveiled a Roadster using SpaceX thruster technology. Analysts including Dan Ives argue the demonstration supports the idea of a shared engineering and artificial-intelligence platform. Prediction market odds on Tesla-SpaceX merger are above 50% for early 2027
• Positive Sentiment: Evercore raised its SpaceX target, citing progress toward major commercial “proof points” and more than $100 billion in potential revenue. Investors are also focused on third-quarter results due October 20, including Starlink growth, launch cadence and investment needs. SpaceX Q3 Earnings Countdown
• Positive Sentiment: SpaceX continues expanding Starlink’s commercial opportunity, including airline deployments at United Airlines and a planned mobile-network push beginning in rural America. Its reported spectrum strategy could broaden the addressable market beyond satellite broadband. SpaceX Expands Footprint With United Airlines
• Neutral Sentiment: SpaceX and Nvidia are reportedly collaborating on AI data centers in space, with initial satellite launches targeted for 2027. The project could create a new growth avenue, but it remains an early-stage initiative. SpaceX and Nvidia Team Up on AI Data Centers in Space
• Negative Sentiment: Reports that Ukraine’s military Starlink/Starshield access was restricted disrupted drone operations and renewed concerns about SpaceX’s geopolitical exposure and customer reliability. Service reportedly resumed, while President Trump denied ordering the restrictions, leaving responsibility unclear. Trump says White House didn't order Starlink restrictions in Ukraine
• Negative Sentiment: Analysts caution that SpaceX’s spectrum deal still leaves it far smaller than established telecom giants, while upcoming insider share unlocks may add selling pressure. The company also faces scrutiny from a New York City Council AI-safety investigation.

Analyst Ratings Changes

SPCX has been the subject of a number of research reports. Pivotal Research reissued a "buy" rating and issued a $230.00 price target on shares of SpaceX in a research note on Monday, October 12th. Daiwa Securities Group began coverage on shares of SpaceX in a report on Thursday, July 2nd. They issued a "neutral" rating and a $175.00 price target on the stock. Weiss Ratings initiated coverage on shares of SpaceX in a research report on Tuesday, September 1st. They set a "sell (d)" rating on the stock. Wall Street Zen cut shares of SpaceX from a "hold" rating to a "sell" rating in a research report on Saturday, October 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of SpaceX from $215.00 to $212.00 and set an "overweight" rating for the company in a report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.34.

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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