State Street Corp Takes Position in SpaceX $SPCX

Key Points

• State Street acquired 10.9 million SpaceX shares worth approximately $1.86 billion, representing a 0.08% stake. Several other institutional investors also initiated multibillion-dollar positions during the second quarter.
• SpaceX reported quarterly revenue of $7.81 billion, up 91.9% year over year, and adjusted earnings of a $0.09 per-share loss that beat estimates. Shares opened at $154.72, with the company valued at roughly $2.02 trillion.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $221.42, but investors face near-term dilution and valuation risks from a lockup expiration, negative cash flow and ambitious Starship and AI growth plans.

State Street Corp purchased a new stake in shares of SpaceX (NASDAQ:SPCX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 10,876,324 shares of the company's stock, valued at approximately $1,858,329,000. State Street Corp owned 0.08% of SpaceX as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SC US Ttgp LTD. purchased a new stake in shares of SpaceX during the second quarter valued at $20,933,621,000. Darsana Capital Partners LP acquired a new stake in shares of SpaceX during the 2nd quarter valued at about $17,335,783,000. K5 Global Advisor LLC acquired a new stake in SpaceX in the second quarter valued at approximately $6,587,531,000. Dragoneer Investment Group LLC bought a new stake in SpaceX in the second quarter worth $1,366,880,000. Finally, National Pension Service acquired a new position in shares of SpaceX during the 2nd quarter valued at about $598,010,000.

SpaceX Trading Up 1.9%

SPCX stock opened at $154.72 on Wednesday. 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 business's 50-day simple moving average is $135.31. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The company has a market capitalization of $2.02 trillion and a price-to-earnings ratio of -1,719.11.

SpaceX (NASDAQ:SPCX - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. The business's quarterly revenue was up 91.9% compared to the same quarter last year. On average, analysts forecast that SpaceX will post -0.15 earnings per share for the current year.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Grok Bot gains early traction: SpaceXAI’s autonomous Grok Bot reportedly surpassed 400,000 weekly users roughly one month after launch. The adoption strengthens the bull case that AI could become a major, potentially leading, SpaceX business. SpaceXAI's Grok BOT agent surpasses 400,000 users after the first month
• Positive Sentiment: Possible Tesla combination fuels speculation: Analysts, including Dan Ives, have suggested a high probability of a Tesla-SpaceX merger by 2027. Morgan Stanley also cited expanding technology, talent, infrastructure and “physical AI” links between the companies, though no transaction has been announced. Tesla and SpaceX merger speculation
• Positive Sentiment: Index-related buying remains supportive: SpaceX’s Nasdaq-100 weighting more than doubled to 2.82%, potentially prompting substantial passive-fund purchases and creating continued technical support for SPCX. SpaceX's Nasdaq-100 weighting
• Positive Sentiment: Launch and government catalysts: SpaceX is targeting September 28 for Starship’s first orbital flight, carrying Starlink V3 satellites, while NASA awarded the company another $946 million for three astronaut missions through 2030. Falcon 9’s limited future supply could also improve launch pricing and utilization. Starship and Starlink V3 launch target
• Neutral Sentiment: Political disclosure: President Donald Trump bought as much as $50,000 and sold as much as $15,000 of SpaceX shares in July. The transactions provide visibility but do not change SpaceX’s fundamentals. Trump bought and sold SpaceX shares
• Negative Sentiment: Near-term dilution risk: Up to 328.4 million shares are scheduled to become eligible for sale on September 24. Increased supply could pressure SPCX even as analysts remain bullish. SpaceX lockup expiration
• Negative Sentiment: Valuation concerns persist: Commentary highlights SPCX’s rich price-to-book valuation, negative free cash flow and reliance on ambitious AI, Starlink and Starship growth plans. Falcon 9’s phaseout also creates execution and launch-capacity risks before Starship is fully operational. SpaceX valuation concerns

Wall Street Analysts Forecast Growth

SPCX has been the topic of several recent analyst reports. KeyCorp reiterated a "sector weight" rating on shares of SpaceX in a report on Tuesday, July 28th. Canaccord Genuity Group assumed coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a "buy" rating and a $246.00 price objective for the company. William Blair restated an "outperform" rating on shares of SpaceX in a research report on Friday, September 11th. Barclays raised shares of SpaceX from an "underweight" rating to an "overweight" rating in a research note on Monday, June 22nd. Finally, Wedbush initiated coverage on SpaceX in a research note on Tuesday, June 30th. They issued an "outperform" rating and a $190.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have given a Hold rating and seven have given a Sell rating to the company. Based on data from MarketBeat, SpaceX has a consensus rating of "Moderate Buy" and an average price target of $221.42.

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, serving commercial, government and scientific customers.

SpaceX's principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.

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