SpaceX (NASDAQ:SPCX) Trading Down 4.9% on Insider Selling

SpaceX (NASDAQ:SPCX) shares fell 4.9% during trading on Wednesday following insider selling activity. The stock traded as low as $187.01 and last traded at $191.82. Approximately 198,547,295 shares were traded during mid-day trading, a decline of 23% from the average session volume of 258,655,328 shares. The stock had previously closed at $201.80.

Specifically, CEO Elon Musk sold 11,390 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $105.32, for a total transaction of $1,199,594.80. Following the completion of the sale, the chief executive officer owned 526,165,900 shares in the company, valued at $55,415,792,588. This trade represents a 0.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

SPCX has been the topic of a number of research reports. Cfra initiated coverage on shares of SpaceX in a report on Friday, June 12th. They issued a “sell” rating and a $115.00 price target on the stock. Oppenheimer raised their target price on SpaceX from $190.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday. KGI Securities started coverage on SpaceX in a research note on Thursday, June 11th. They issued an “outperform” rating on the stock. Zacks Research raised SpaceX to a “hold” rating in a research report on Monday. Finally, Arete Research set a $401.00 price target on SpaceX and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $221.20.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Wall Street is still adding bullish catalysts: Arete Research upgraded SpaceX to strong-buy, while analysts at Oppenheimer and others highlighted upside tied to the company’s AI ambitions, large retail demand, and possible index inclusion that could bring more passive buying. Article Title
• Positive Sentiment: SpaceX’s $60 billion all-stock acquisition of Cursor and broader push into enterprise AI are being framed as strategic moves that could expand the company well beyond rockets and satellites, supporting long-term growth expectations. Article Title
• Neutral Sentiment: Several reports focused on investor enthusiasm around SpaceX’s record IPO, massive valuation, ETF inclusion, tokenized-share demand, and options activity. These headlines help explain the stock’s strong interest, but they also point to elevated speculation and volatility rather than a clear fundamental re-rating. Article Title
• Negative Sentiment: Bears are warning that the stock’s valuation may be too stretched, with multiple articles noting a recent pullback, profit-taking after the IPO pop, and concerns that the frenzy could fade once the initial excitement cools. Article Title

SpaceX Stock Performance

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share for the quarter. The company had revenue of $4.69 billion for the quarter.

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.