Titleist Asset Management LLC Acquires 120,959 Shares of SpaceX $SPCX

Key Points

• Titleist Asset Management acquired 120,959 SpaceX shares worth approximately $18.25 million, making SPCX its 18th-largest holding at 1.2% of the portfolio. Several other institutional investors also increased or initiated positions during the third quarter.
• COO Gwynne Shotwell sold 342,170 shares for roughly $52.5 million under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 12.16%. Analyst sentiment remains mixed, but SpaceX has a consensus “Moderate Buy” rating and a $218.76 target price.
• SpaceX shares recently traded at $161.66, while quarterly revenue surged 91.9% year over year to $7.81 billion and the company exceeded earnings expectations. Investors remain focused on the company’s ambitious Starlink and AI expansion, alongside valuation, financing and execution risks.

Titleist Asset Management LLC bought a new position in SpaceX (NASDAQ:SPCX - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 120,959 shares of the company's stock, valued at approximately $18,248,000. SpaceX accounts for approximately 1.2% of Titleist Asset Management LLC's investment portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Apella Capital LLC lifted its holdings in SpaceX by 218.2% in the third quarter. Apella Capital LLC now owns 8,424 shares of the company's stock worth $1,412,000 after buying an additional 5,777 shares during the period. Everhart Financial Group Inc. bought a new position in shares of SpaceX in the 3rd quarter worth approximately $527,000. Gradient Investments LLC bought a new position in shares of SpaceX in the 3rd quarter worth approximately $9,545,000. Avidian Wealth Enterprises LLC lifted its stake in shares of SpaceX by 587.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 54,170 shares of the company's stock valued at $8,172,000 after purchasing an additional 46,285 shares during the period. Finally, Ebert Capital Management Inc. boosted its position in shares of SpaceX by 21.6% during the third quarter. Ebert Capital Management Inc. now owns 4,600 shares of the company's stock valued at $694,000 after purchasing an additional 816 shares in the last quarter.

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction on 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 sale, the chief operating officer 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPCX. KGI Securities cut SpaceX from an "outperform" rating to a "hold" rating in a research note on Monday, June 22nd. DZ Bank assumed coverage on shares of SpaceX in a report on Friday, August 21st. They set a "sell" rating and a $100.00 target price on the stock. HSBC began coverage on shares of SpaceX in a research report on Thursday, July 23rd. They issued a "hold" rating and a $115.00 target price on the stock. Weiss Ratings assumed coverage on shares of SpaceX in a research report on Tuesday, September 1st. They set a "sell (d)" rating for the company. Finally, Clear Str raised shares of SpaceX to a "strong-buy" rating in a research note on Tuesday, July 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, SpaceX currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.76.

SpaceX Stock Performance

Shares of SPCX stock traded down $5.94 during trading hours on Thursday, reaching $161.66. The company had a trading volume of 43,614,183 shares, compared to its average volume of 102,157,078. 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 has a fifty day moving average of $142.98. SpaceX has a one year low of $104.83 and a one year high of $225.64. The firm has a market capitalization of $2.13 trillion and a price-to-earnings ratio of -1,796.11.

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 company had revenue of $7.81 billion during the quarter. The business's revenue was up 91.9% on a year-over-year basis. Equities research analysts forecast that SpaceX will post 0.09 EPS for the current year.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The FCC approved SpaceX’s plan to deploy 15,000 additional Starlink satellites for direct-to-device services and waived a requirement to lease capacity from ground-based carriers. The approval expands Starlink’s potential mobile-connectivity market and could strengthen SpaceX’s competitive position. SpaceX gets FCC approval for 15,000 Starlink satellites
• Positive Sentiment: Analyst support remains a bullish counterweight. Morgan Stanley reiterated a Buy rating with a $300 price target, while Goldman Sachs raised its outlook and Susquehanna lifted its target to $173, citing growth across launch, Starlink and AI. Morgan Stanley maintains SpaceX Buy rating
• Positive Sentiment: Financial Times commentator John Foley said SpaceX’s AI-compute operation appears to have real customer demand. Renting data-center capacity could ultimately provide substantial recurring revenue if the company can execute its expansion. SpaceX AI data-center revenue analysis
• Positive Sentiment: New FAA and Department of Transportation initiatives to streamline launch approvals could support higher launch frequency, benefiting SpaceX as the industry’s leading launch provider. FAA launch licensing proposals
• Neutral Sentiment: Erste Group initiated coverage with a Hold rating, reflecting the tension between SpaceX’s rapid AI and Starlink growth prospects and its demanding valuation and execution risks.
• Negative Sentiment: Up to 328.4 million shares are scheduled to become eligible for sale on October 9. The potential increase in tradable supply is encouraging investors to reduce exposure or wait for possible selling pressure. SpaceX October 9 share unlock
• Negative Sentiment: SpaceX is reportedly seeking approximately $40 billion—about $10 billion in loans and $30 billion in bonds—to purchase Nvidia AI chips. Investors are concerned that leverage could rise sharply despite the company reportedly holding roughly $100 billion in cash and marketable securities. Apollo and banks discuss financing SpaceX GPU purchase
• Negative Sentiment: The proposed AI buildout could require as much as $500 billion in total investment, increasing concerns about capital intensity, chip obsolescence, debt-service demands and execution risk.
• Negative Sentiment: Starlink’s India launch remains stalled amid a dispute involving local telecom operators and regulators, delaying access to a major potential growth market. Starlink India launch dispute

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 designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX's primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.

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