20,483 SpaceX $SPCX Shares Acquired by Principle Wealth Partners LLC

Principle Wealth Partners LLC grew its position in shares of SpaceX (NASDAQ:SPCX) by 93.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,499 shares of the company’s stock after purchasing an additional 20,483 shares during the period. Principle Wealth Partners LLC’s holdings in SpaceX were worth $6,411,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Syntax Research Inc. bought a new position in SpaceX during the second quarter valued at approximately $26,000. Atwood & Palmer Inc. purchased a new position in SpaceX during the 2nd quarter valued at approximately $29,000. PayPay Securities Corp bought a new stake in SpaceX in the 2nd quarter worth approximately $30,000. Marquette Asset Management LLC bought a new stake in SpaceX in the 2nd quarter worth approximately $32,000. Finally, Hickory Point Bank & Trust purchased a new stake in shares of SpaceX during the 3rd quarter worth approximately $30,000.

SpaceX Price Performance

Shares of NASDAQ SPCX opened at $123.62 on Friday. The stock’s 50 day moving average is $149.32. 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 1-year low of $104.83 and a 1-year high of $225.64. The company has a market capitalization of $1.68 trillion and a PE ratio of 475.46.

SpaceX (NASDAQ:SPCX) last issued 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. The business had revenue of $14.57 billion for the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The company’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.36) earnings per share. As a group, equities research analysts anticipate that SpaceX will post 0.19 earnings per share for the current fiscal year.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Starlink Mobile gains a major technology partner. SpaceX selected Qualcomm to supply 5G infrastructure technology for its planned U.S. wireless network, supporting its effort to expand beyond satellite connectivity and compete with established carriers. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
• Positive Sentiment: Analyst coverage offers a counterpoint to the selloff. China Renaissance initiated coverage with a Buy rating and a $194.20 price target, while a separate valuation update cited potential upside from AI and Starlink growth. These are analyst views, not assurances of future performance. Article: SpaceX Stock Today Has These 2 Positives. The Stock Is Still Falling.
• Neutral Sentiment: A proposed change to U.S. launch rules could benefit SpaceX. The proposal may create a more favorable operating environment, but its eventual impact depends on the final rules and implementation. Article: US proposes space launch rule changes in potential boost for SpaceX
• Negative Sentiment: Election results have raised political and regulatory uncertainty. With Democrats controlling Congress and Texas turning blue, investors fear tougher scrutiny and permitting hurdles for AI data centers, as well as obstacles to SpaceX’s expansion and a potential Tesla merger. Article: SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook
• Negative Sentiment: AI exposure and funding needs are weighing on sentiment. The broader AI-stock retreat is hitting SpaceX as investors question the cost and returns of its large computing buildout. Reports that debt-default insurance costs reached a record high add to concerns about perceived credit risk and financing. Article: Elon Musk’s SpaceX Default Risk Hits Record High as Democratic Sweep Adds to AI Rout

Analysts Set New Price Targets

A number of research analysts have recently commented on SPCX shares. Pivotal Research increased their target price on SpaceX from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Seaport Research Partners cut shares of SpaceX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Arete Research set a $450.00 price target on shares of SpaceX in a research report on Tuesday, August 11th. JPMorgan Chase & Co. upped their price target on shares of SpaceX from $240.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Finally, TD Cowen increased their price objective on shares of SpaceX from $200.00 to $224.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Four analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.60.

Insider Buying and Selling at SpaceX

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 transaction, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The transaction 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.

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.