Straight Path Wealth Management Buys 37,013 Shares of SpaceX $SPCX

Straight Path Wealth Management bought a new position in SpaceX (NASDAQ:SPCX) in the third quarter, Holdings Channel reports. The institutional investor bought 37,013 shares of the company’s stock, valued at approximately $5,584,000. SpaceX comprises about 1.2% of Straight Path Wealth Management’s investment portfolio, making the stock its 15th largest holding.

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

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Strong earnings and AI growth supported the rebound. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, and earnings per share of $0.35 versus analysts’ $0.10 estimate. Its AI segment reportedly generated $431 million in net income, helping offset losses in the launch business. Fantastic News for SpaceX Stock Investors
• Positive Sentiment: Analyst sentiment improved sharply. PhilipCapital upgraded SpaceX from “Sell” to “Buy” and raised its price target from $75 to $250. Bank of America also lifted its target to $275, citing stronger growth prospects and Starship milestones. SpaceX Just Scored a Double Upgrade
• Positive Sentiment: Wireless ambitions broaden the growth story. Reports that SpaceX is seeking access to at least 80,000 U.S. cell sites suggest Starlink could evolve into a nationwide wireless carrier, potentially creating a major new revenue stream. The news pressured telecom stocks while benefiting tower owners. SpaceX Seeks Access to 80,000 US Cell Sites
• Neutral Sentiment: A potential Tesla (NASDAQ: TSLA) merger remains speculative. Elon Musk called the combination a “good idea,” but valuation, conflicts of interest, shareholder approval, antitrust review and Tesla’s China operations could delay or prevent a transaction. SpaceX-Tesla Merger Chatter
• Negative Sentiment: Funding and cash-burn concerns remain significant. SpaceX reportedly burned more than $9.9 billion in free cash flow during the quarter and is raising approximately $40 billion of debt at relatively high interest rates to finance AI and other expansion plans. SpaceX $40 Billion Debt Deal
• Negative Sentiment: Execution and reputational risks could limit upside. The launch division was unprofitable because of heavy research spending, while reports of continuing Starlink restrictions in Ukraine could threaten government relationships and future contracts. In addition, upcoming insider share unlocks may increase supply. Ukraine Says Starlink Restrictions Remain

Analyst Ratings Changes

A number of brokerages have commented on SPCX. Seaport Research Partners downgraded shares of SpaceX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. TD Cowen boosted their target price on shares of SpaceX from $200.00 to $224.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Piper Sandler reissued a “neutral” rating on shares of SpaceX in a research note on Wednesday. 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 target for the company. Finally, Citigroup raised their price target on shares of SpaceX from $200.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.19.

Insider Buying and Selling

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Performance

NASDAQ SPCX opened at $147.49 on Monday. The stock has a market cap of $1.94 trillion and a PE ratio of -1,638.78. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The business’s fifty day simple moving average is $149.40.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The firm’s revenue for the quarter was up 161.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.36) earnings per share. Research analysts predict that SpaceX will post 0.13 EPS for the current year.

SpaceX Profile

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.