7,696 SpaceX $SPCX Shares Acquired by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC raised its position in shares of SpaceX (NASDAQ:SPCX) by 52.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 22,357 shares of the company’s stock after buying an additional 7,696 shares during the period. Castle Rock Wealth Management LLC’s holdings in SpaceX were worth $3,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Decision Investments Inc. raised its stake in shares of SpaceX by 10.7% during the 3rd quarter. Decision Investments Inc. now owns 1,443 shares of the company’s stock worth $218,000 after acquiring an additional 139 shares in the last quarter. Syntax Research Inc. acquired a new stake in SpaceX in the second quarter valued at approximately $26,000. Atwood & Palmer Inc. purchased a new position in SpaceX in the second quarter worth $29,000. PayPay Securities Corp purchased a new position in SpaceX in the second quarter worth $30,000. Finally, Dominguez Wealth Management Solutions Inc. increased its position in shares of SpaceX by 8.2% during the third quarter. Dominguez Wealth Management Solutions Inc. now owns 2,390 shares of the company’s stock worth $361,000 after purchasing an additional 182 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating on shares of SpaceX in a research report on Tuesday, September 29th. Raymond James Financial cut SpaceX from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. reissued a “buy” rating on shares of SpaceX in a report on Tuesday, August 25th. DZ Bank assumed coverage on shares of SpaceX in a report on Friday, August 21st. They set a “sell” rating and a $100.00 price objective on the stock. Finally, Erste Group Bank initiated coverage on shares of SpaceX in a research report on Thursday. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $219.77.

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of the 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 transaction, the chief operating officer 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 sale was disclosed in a filing 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.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The spectrum purchase—reported at roughly $8 billion by some outlets, although the exact price was not disclosed—could give Starlink Mobile stronger coverage indoors and in dense urban areas where satellites are less effective. The deal also positions SpaceX to compete more directly with AT&T, Verizon and T-Mobile. SpaceX’s low-band spectrum deal gives Starlink Mobile a terrestrial foothold
• Positive Sentiment: Analyst support added to the bullish reaction. Barclays initiated coverage with a Buy rating and a $254 target, while TD Cowen reaffirmed Buy with a $200 target; other analysts highlighted the hybrid satellite-and-terrestrial network strategy. Two Reasons SpaceX Stock Is Jumping Higher Today
• Positive Sentiment: The FCC’s approval of up to 15,000 next-generation Starlink satellites strengthens the company’s long-term direct-to-device opportunity. Investors are also valuing SpaceX’s reported AI-computing demand and potential Nvidia chip purchases as additional growth engines. SpaceX Gets Green Light for 15,000 Starlink Satellites
• Neutral Sentiment: The spectrum transaction remains subject to final FCC approval, and SpaceX still must invest heavily to build a terrestrial network, integrate services and attract wireless customers. The launch of Blue Origin as a future public-company competitor may also increase attention on the space sector. SpaceX Makes Big Play to Become a Wireless Carrier
• Negative Sentiment: Up to approximately $51 billion of insider shares became eligible for sale, creating a potential supply overhang and volatility risk after the recent rally. SpaceX Insider Shares Unlock
• Negative Sentiment: Reports that SpaceX may borrow $40 billion to purchase Nvidia chips continue to raise concerns about leverage, execution and the risk of spending aggressively on an unproven AI infrastructure business despite its substantial cash holdings. SpaceX in Talks to Raise $40 Billion in Loans

SpaceX Stock Performance

SPCX stock traded up $2.00 during midday trading on Friday, reaching $162.57. The stock had a trading volume of 92,626,626 shares, compared to its average volume of 102,444,141. The firm has a fifty day simple moving average of $143.95. SpaceX has a 52-week low of $104.83 and a 52-week 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. The firm has a market cap of $2.14 trillion and a PE ratio of -1,806.33.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. The company’s quarterly revenue was up 91.9% on a year-over-year basis. On average, sell-side analysts predict that SpaceX will post 0.09 EPS for the current fiscal year.

SpaceX Profile

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.