Thrive Capital Management LLC Purchases 18,914,205 Shares of SpaceX $SPCX

Thrive Capital Management LLC purchased a new stake in shares of SpaceX (NASDAQ:SPCX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,914,205 shares of the company’s stock, valued at approximately $3,231,681,000. SpaceX comprises about 183.5% of Thrive Capital Management LLC’s investment portfolio, making the stock its largest position. Thrive Capital Management LLC owned about 0.14% of SpaceX at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SC US Ttgp LTD. bought a new stake in SpaceX during the 2nd quarter worth about $20,933,621,000. Darsana Capital Partners LP acquired a new position in shares of SpaceX during the second quarter worth approximately $17,335,783,000. K5 Global Advisor LLC acquired a new position in shares of SpaceX during the second quarter worth approximately $6,587,531,000. State Street Corp bought a new stake in shares of SpaceX during the second quarter valued at approximately $1,858,329,000. Finally, Dragoneer Investment Group LLC acquired a new stake in shares of SpaceX in the second quarter valued at approximately $1,366,880,000.

SpaceX Stock Performance

SpaceX stock opened at $134.72 on Friday. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $149.56. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.57 billion during the quarter. During the same period in the previous year, the business earned ($0.36) earnings per share. The business’s quarterly revenue was up 161.4% on a year-over-year basis. As a group, research analysts predict that SpaceX will post 0.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SPCX shares. Citigroup upped their target price on shares of SpaceX from $200.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Cantor Fitzgerald increased their price objective on shares of SpaceX from $246.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, October 20th. Wells Fargo & Company raised their price objective on shares of SpaceX from $214.00 to $274.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Erste Group Bank began coverage on shares of SpaceX in a report on Thursday, October 8th. They set a “hold” rating for the company. Finally, Canaccord Genuity Group began coverage on shares of SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $246.00 target price for the company. Four analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SpaceX has an average rating of “Moderate Buy” and an average price target of $244.97.

Insider Activity

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

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s AI business remains a major growth catalyst. Reports indicate that Anthropic became its largest customer and accounted for more than one-third of third-quarter revenue, while SpaceX is reportedly benefiting from substantial demand for Nvidia-powered computing capacity. Anthropic Reportedly Becomes SpaceX’s Top Customer
• Positive Sentiment: Analysts continue to highlight SpaceX’s strong long-term prospects, including rapid AI growth, Starlink expansion and potential demand from Anthropic and other enterprise customers. The company’s AI revenue reportedly rose sharply in the third quarter, supporting the view that SpaceX is evolving beyond launch services. SpaceX vs. Nvidia
• Positive Sentiment: SpaceX launched Ukraine’s first OBRIA test satellite, reinforcing Falcon 9’s commercial launch capabilities and its role in developing independent communications networks. SPCX Launches Satellite for Ukraine’s Communications
• Neutral Sentiment: Speculation about a Tesla-SpaceX combination continues after Elon Musk called a merger strategically attractive, but the proposal would face difficult shareholder-approval, regulatory and governance hurdles. Questions Before a Possible Tesla and SpaceX Merger
• Negative Sentiment: Investors are concerned that SpaceX’s wireless ambitions could require approximately $130 billion beyond its reported spectrum commitments to compete with T-Mobile. T-Mobile also rejected the idea of a broader SpaceX deal, increasing uncertainty around the strategy. SpaceX’s Spectrum Deals May Not Be Enough
• Negative Sentiment: Intel’s cautious guidance intensified concerns about technology spending and AI infrastructure demand, weighing on SpaceX despite the company’s strong growth narrative. Heavy planned capital expenditures make SpaceX particularly sensitive to a broader pullback in AI investment. Why SpaceX Stock Dropped Today
• Negative Sentiment: Anthropic’s importance creates customer-concentration risk: although its reported SpaceX contract could be worth up to $120.5 billion, it may be cancellable with 90 days’ notice after the initial term. Investors are therefore questioning how durable the AI revenue pipeline is. Anthropic Contracts and SpaceX
• Negative Sentiment: SpaceX also faces potential selling pressure as billions of shares have become eligible to trade following IPO lockup releases. That supply overhang, combined with a very demanding valuation and ongoing GAAP losses, is limiting investor enthusiasm. SpaceX Insider Share Unlocks

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.