Modera Wealth Management LLC Acquires New Shares in SpaceX $SPCX

Modera Wealth Management LLC acquired a new position in SpaceX (NASDAQ:SPCX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,683 shares of the company’s stock, valued at approximately $706,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Syntax Research Inc. acquired a new position in shares of SpaceX in the second quarter worth approximately $26,000. Atwood & Palmer Inc. acquired a new position in shares of SpaceX in the 2nd quarter worth approximately $29,000. PayPay Securities Corp acquired a new position in shares of SpaceX in the 2nd quarter worth approximately $30,000. Hickory Point Bank & Trust acquired a new position in shares of SpaceX in the 3rd quarter worth approximately $30,000. Finally, Maryland Capital Advisors Inc. bought a new stake in shares of SpaceX in the 3rd quarter valued at $30,000.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Boost Mobile talks are the primary catalyst. SpaceX is reportedly discussing either acquiring Boost Mobile or using its network. The deal could provide customers, billing infrastructure and retail distribution, accelerating Starlink’s ambitions to become a major wireless provider. Reuters article
• Positive Sentiment: Strong operating momentum supports the bullish case. Recent reports highlighted $7.6 billion in third-quarter super-intelligence revenue, 13.6 million Starlink subscribers and a 5% sequential increase in consumer average revenue per user. Management also targets substantial expansion of AI-computing capacity through 2027. Seeking Alpha article
• Positive Sentiment: The wireless strategy could broaden SpaceX’s growth profile. Investors see a potential fourth major U.S. mobile operator and an additional revenue engine beyond rockets and satellite broadband. The reports also indicate that several established carriers’ shares weakened on concerns about increased competition. TechCrunch article

Insider Buying and Selling

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

SpaceX Trading Up 1.2%

Shares of NASDAQ SPCX opened at $136.37 on Tuesday. The firm’s 50-day moving average is $149.55. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The firm has a market capitalization of $1.80 trillion and a price-to-earnings ratio of 524.50. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20.

SpaceX (NASDAQ:SPCX) last issued its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.10 by $0.25. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company had revenue of $14.57 billion during the quarter. During the same quarter in the prior year, the business earned ($0.36) earnings per share. The business’s quarterly revenue was up 161.4% on a year-over-year basis. Equities research analysts forecast that SpaceX will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SPCX. Oppenheimer lifted their target price on shares of SpaceX from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Evercore reaffirmed an “outperform” rating and set a $275.00 price target on shares of SpaceX in a research report on Friday, October 16th. Wolfe Research reiterated an “outperform” rating and set a $175.00 price target on shares of SpaceX in a report on Wednesday, August 26th. Royal Bank Of Canada reissued an “outperform” rating on shares of SpaceX in a research report on Monday, October 19th. Finally, Stifel Nicolaus began coverage on SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $190.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.97.

SpaceX Company 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.