128,368 Shares in SpaceX $SPCX Bought by Wedmont Private Capital

Wedmont Private Capital purchased a new stake in SpaceX (NASDAQ:SPCX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 128,368 shares of the company’s stock, valued at approximately $20,612,000.

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

Insiders Place Their Bets

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction 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 directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The transaction 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.

Analyst Upgrades and Downgrades

SPCX has been the subject of a number of analyst reports. Benchmark assumed coverage on SpaceX in a research report on Monday, June 22nd. They set a “buy” rating for the company. HSBC assumed coverage on shares of SpaceX in a research report on Thursday, July 23rd. They set a “hold” rating and a $115.00 target price for the company. Clear Str upgraded shares of SpaceX to a “strong-buy” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of SpaceX in a research note on Tuesday, September 29th. Finally, Arete Research set a $450.00 target price on shares of SpaceX in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $219.77.

SpaceX Stock Up 0.4%

NASDAQ:SPCX traded up $0.71 on Friday, hitting $161.28. The stock had a trading volume of 63,314,072 shares, compared to its average volume of 102,061,672. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company’s fifty day moving average price is $143.95. The company has a market cap of $2.13 trillion and a P/E ratio of -1,792.94.

SpaceX (NASDAQ:SPCX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. The company’s revenue for the quarter was up 91.9% compared to the same quarter last year. Equities analysts predict that SpaceX will post 0.09 earnings per share for the current fiscal year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Nationwide spectrum acquisition strengthens Starlink Mobile. SpaceX agreed to acquire Grain Management’s nationwide portfolio of low-band 800 MHz spectrum, reportedly covering up to 14 MHz of paired licenses and nearly the entire U.S. population. The lower-frequency spectrum could improve indoor and rural coverage while complementing Starlink’s direct-to-device satellite network, bringing SpaceX closer to becoming a major mobile carrier. Verizon stock heads for worst day since 2002 as SpaceX U.S. network plans whack telcos
• Positive Sentiment: Regulatory progress supports the wireless strategy. The FCC approved SpaceX’s next-generation Starlink constellation of up to 15,000 satellites for mobile and direct-to-device services, without requiring ground-provider leases. The approvals increase the potential scale of Starlink Mobile and contributed to investor optimism. Elon Musk’s SpaceX Gets Green Light from Trump’s FCC for 15,000 Starlink Satellites
• Positive Sentiment: Analyst support and AI ambitions added momentum. Barclays initiated coverage with a Buy rating and a $254 price target, while TD Cowen reaffirmed its Buy rating with a $200 target. Investors are also weighing SpaceX’s reported plans to raise as much as $40 billion to purchase Nvidia chips and expand AI-computing capacity, potentially creating another significant growth engine. Two Reasons SpaceX Stock Is Jumping Higher Today
• Neutral Sentiment: Competition is reshaping the communications sector. Verizon, AT&T and T-Mobile sold off sharply on fears that SpaceX could pressure traditional wireless operators, while cell-tower owners may benefit if SpaceX becomes a major network tenant. The deal remains subject to final FCC approval. US, European telecom stocks slide as SpaceX spectrum deal rattles sector
• Negative Sentiment: Financing and share-supply risks remain overhangs. Investors continue to question the leverage required for the AI buildout, while approximately $51 billion of insider shares became eligible for sale. ARK Invest also sold roughly $4.7 million of SpaceX shares, potentially limiting near-term gains. SpaceX’s Fleecing of Retail Investors Continues

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.