Three Bridge Wealth Advisors LLC Purchases 332,287 Shares of SpaceX $SPCX

Key Points

• Three Bridge Wealth Advisors initiated a SpaceX position, buying 332,287 shares worth about $50.1 million. The stock now represents 10.7% of its portfolio and is its second-largest holding.
• SpaceX reported quarterly revenue of $14.57 billion, up 161.4% year over year, and earnings of $0.35 per share, beating the $0.10 consensus estimate.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $243.60; ratings include 35 Buy or Strong Buy, nine Hold, and three Sell recommendations.

Three Bridge Wealth Advisors LLC purchased a new stake in shares of SpaceX (NASDAQ:SPCX - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 332,287 shares of the company's stock, valued at approximately $50,129,000. SpaceX makes up 10.7% of Three Bridge Wealth Advisors LLC's investment portfolio, making the stock its 2nd largest position.

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

Key SpaceX News

Here's some of the latest news about SPCX:

• Positive Sentiment: The FCC accepted SpaceX’s application to acquire 546 spectrum licenses, a step toward its planned nationwide 5G push with Starlink. The deal could expand the company’s addressable market, though it still requires regulatory approval. Article: SpaceX Scores Key FCC Breakthrough in $8 Billion Spectrum Deal
• Positive Sentiment: Recent coverage also highlighted strong operating momentum: SpaceX reported record quarterly revenue of about $14.6 billion, up 161% year over year, and a $4.4 billion profit. Its expanding AI and Starlink businesses offer longer-term growth potential. Article: Is SpaceX Stock a Bargain at Today’s Prices?
• Negative Sentiment: Near-term caution centers on Friday’s Starship Flight 15: SpaceX plans to catch both rocket stages with its launch tower, a first for the company and an unproven maneuver. A failed recovery could delay progress on reusability; the launch uncertainty has been cited as a source of investor jitters. Article: SpaceX shares slip amid upcoming Starship test flight jitters

Analysts Set New Price Targets

SPCX has been the topic of several recent analyst reports. DZ Bank started coverage on SpaceX in a report on Friday, August 21st. They issued a "sell" rating and a $100.00 price target on the stock. Argus raised SpaceX from a "hold" rating to a "buy" rating and set a $160.00 price objective for the company in a report on Friday, August 7th. Royal Bank Of Canada reissued an "outperform" rating on shares of SpaceX in a report on Monday, October 19th. Evercore restated an "outperform" rating and issued a $275.00 price objective on shares of SpaceX in a research report on Friday, October 16th. Finally, Yorkville Ives began coverage on shares of SpaceX in a research note on Tuesday, October 6th. They issued an "outperform" rating and a $225.00 target price on the stock. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $243.60.

Insider Transactions at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the company's stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value 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 approximately $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Performance

Shares of NASDAQ:SPCX opened at $139.75 on Thursday. SpaceX has a 52-week low of $104.83 and a 52-week high of $225.64. The stock has a fifty day moving average of $149.13. The stock has a market capitalization of $1.90 trillion and a price-to-earnings ratio of 537.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00.

SpaceX (NASDAQ:SPCX - Get Free Report) last released 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. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The business had revenue of $14.57 billion for the quarter. During the same period in the prior year, the company earned ($0.36) EPS. The firm's revenue was up 161.4% compared to the same quarter last year. On average, sell-side analysts forecast that SpaceX will post 0.22 EPS for the current fiscal year.

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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