SpaceX $SPCX Shares Purchased by Private Advisory Group LLC

Private Advisory Group LLC grew its position in SpaceX (NASDAQ:SPCX) by 1,540.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,292 shares of the company’s stock after buying an additional 89,482 shares during the quarter. Private Advisory Group LLC’s holdings in SpaceX were worth $14,376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SC US Ttgp LTD. acquired a new stake in shares of SpaceX during the 2nd quarter worth approximately $20,933,621,000. Darsana Capital Partners LP bought a new position in SpaceX in the second quarter valued at approximately $17,335,783,000. K5 Global Advisor LLC acquired a new position in SpaceX during the second quarter valued at approximately $6,587,531,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in SpaceX during the third quarter valued at approximately $4,224,143,000. Finally, Thrive Capital Management LLC bought a new stake in SpaceX during the second quarter worth $3,231,681,000.

SpaceX News Roundup

Here’s some of the latest news about SPCX:

• Positive Sentiment: Investors are also responding to speculation that former Nvidia CEO Jensen Huang could join SpaceX after Elon Musk said hiring him “would be an honor.” A move could bolster the company’s AI ambitions, but no hiring decision has been announced. Benzinga article
• Neutral Sentiment: A planned Starship Flight 15, including an attempt to catch both rocket stages, is a high-profile test of SpaceX’s reusability plans. Success could strengthen confidence in its long-term ambitions, while the outcome remains uncertain. Barchart article
• Negative Sentiment: The data-center plans require enormous spending and face local approval and infrastructure questions. Analysts have also cautioned that SpaceX will need to work with Texas officials after recent election results to advance its projects, leaving timing and execution risks. Benzinga article

SpaceX Stock Performance

Shares of SPCX opened at $139.94 on Friday. 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 has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a market cap of $1.90 trillion and a PE ratio of 538.23. The firm has a fifty day moving average price of $149.12.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $14.57 billion for the quarter. During the same quarter in the prior year, the firm earned ($0.36) EPS. The company’s revenue was up 161.4% on a year-over-year basis. As a group, equities analysts forecast that SpaceX will post 0.22 EPS for the current year.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

SPCX has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their target price on SpaceX from $246.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, October 20th. Deutsche Bank reissued a “buy” rating and set a $235.00 price target on shares of SpaceX in a report on Monday, September 28th. Yorkville Ives began coverage on SpaceX in a research report on Tuesday, October 6th. They set an “outperform” rating and a $225.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating on shares of SpaceX in a research note on Wednesday, October 21st. Finally, Oppenheimer raised their price objective on SpaceX from $250.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $243.60.

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.