SpaceX $SPCX Stock: Signature Equity Partners LLC Increases Stake

Signature Equity Partners LLC boosted its holdings in shares of SpaceX (NASDAQ:SPCX) by 112.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,739 shares of the company’s stock after purchasing an additional 4,095 shares during the quarter. Signature Equity Partners LLC’s holdings in SpaceX were worth $1,168,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Viking Fund Management LLC purchased a new position in SpaceX during the third quarter worth $1,358,000. Diversify Advisory Services LLC raised its stake in shares of SpaceX by 34.0% in the third quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company’s stock valued at $7,205,000 after acquiring an additional 12,292 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of SpaceX in the third quarter valued at $2,934,000. Wedbush Securities Inc. purchased a new stake in shares of SpaceX in the second quarter valued at $5,094,000. Finally, Apella Capital LLC lifted its holdings in shares of SpaceX by 218.2% in the 3rd quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock worth $1,412,000 after acquiring an additional 5,777 shares during the last quarter.

Insider Buying and Selling

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction 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. This 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 available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key 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

Analyst Upgrades and Downgrades

SPCX has been the subject of several recent analyst reports. Cantor Fitzgerald boosted their target price on SpaceX from $246.00 to $345.00 and gave the company an “overweight” rating in a research report on Tuesday, October 20th. Bank of America increased their price target on SpaceX from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Morgan Stanley reissued an “overweight” rating on shares of SpaceX in a research note on Wednesday, October 21st. UBS Group restated an “overweight” rating and set a $300.00 price objective on shares of SpaceX in a report on Wednesday, October 21st. Finally, TD Cowen upped their price objective on SpaceX from $200.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.97.

SpaceX Price Performance

SPCX stock opened at $136.37 on Tuesday. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. The company has a 50-day moving average price of $149.55. The company has a market capitalization of $1.80 trillion and a P/E ratio of 524.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00.

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

About SpaceX

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.