SpaceX $SPCX Shares Newly Purchased by Fagan Associates Inc.

Fagan Associates Inc. purchased a new stake in SpaceX (NASDAQ:SPCX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,673 shares of the company’s stock, valued at approximately $1,158,000.

Other institutional investors also recently modified their holdings of the company. SC US Ttgp LTD. acquired a new position in shares of SpaceX during the second quarter worth about $20,933,621,000. Darsana Capital Partners LP bought a new position in shares of SpaceX during the second quarter worth about $17,335,783,000. K5 Global Advisor LLC acquired a new stake in SpaceX in the 2nd quarter valued at approximately $6,587,531,000. State Street Corp acquired a new stake in SpaceX in the 2nd quarter valued at approximately $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new stake in SpaceX in the 2nd quarter valued at approximately $1,366,880,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX successfully launched a Falcon 9 mission carrying approximately 6,300 pounds of cargo to the International Space Station, reinforcing the company’s operational reliability and commercial launch capabilities. SpaceX successfully launches cargo to the International Space Station
• Positive Sentiment: Analysts continue to point to Starlink growth, the planned Starship program and SpaceX’s wireless ambitions as significant long-term catalysts. Some firms maintain Buy or Overweight ratings, with price targets above the current market level. Morgan Stanley on Starship as a catalyst
• Neutral Sentiment: SpaceX is seeking approval for as many as 456 Starship launches annually, a dramatic increase from its current flight cadence. The proposal highlights substantial future capacity, but execution, regulatory approval and infrastructure requirements remain uncertain. SpaceX seeks approval for 456 annual Starship launches
• Negative Sentiment: The most immediate concern is SpaceX’s proposed $40 billion debt raise to fund Nvidia chips and its AI build-out. Reports indicate that cash consumption could accelerate, while rising costs to insure SpaceX’s debt suggest bond investors are becoming more concerned about leverage and default risk. Bond investors wary of SpaceX borrowing
• Negative Sentiment: SpaceX also agreed to testify before the New York City Council after receiving a subpoena related to AI safety. Although no violation was established in the reports, the public investigation adds regulatory and reputational risk as the company expands its AI operations. SpaceX to testify before NYC Council on AI safety
• Negative Sentiment: Analyst commentary has raised concerns that SpaceX’s wireless push and spectrum acquisition could require significant investment before generating returns. Skepticism over valuation and the ability to compete with established telecom networks is adding pressure to the stock. Wall Street skepticism over SpaceX wireless expansion

Insiders Place Their Bets

In related news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Guggenheim initiated coverage on SpaceX in a research note on Friday, August 7th. They issued a “buy” rating on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a research note on Tuesday, September 29th. Citigroup downgraded shares of SpaceX from a “buy” rating to a “sell” rating in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $235.00 price objective on shares of SpaceX in a research report on Monday, September 28th. Finally, Daiwa Securities Group initiated coverage on shares of SpaceX in a report on Thursday, July 2nd. They set a “neutral” rating and a $175.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $220.06.

SpaceX Trading Down 4.2%

Shares of NASDAQ:SPCX traded down $6.88 during trading on Tuesday, hitting $156.54. 68,680,166 shares of the company were exchanged, compared to its average volume of 101,630,234. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64. The stock has a market capitalization of $2.06 trillion and a PE ratio of -1,739.33. 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 fifty day simple moving average of $146.63.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. SpaceX’s quarterly revenue was up 91.9% on a year-over-year basis. As a group, research analysts predict that SpaceX will post 0.09 EPS for the current 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.