21,275 SpaceX $SPCX Shares Bought by Werba Rubin Papier Wealth Management

Werba Rubin Papier Wealth Management raised its stake in SpaceX (NASDAQ:SPCX) by 1,692.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,532 shares of the company’s stock after purchasing an additional 21,275 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in SpaceX were worth $3,399,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Nikulski Financial Inc. acquired a new stake in shares of SpaceX during the 3rd quarter worth $2,084,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its position in shares of SpaceX by 13.1% in the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 4,522 shares of the company’s stock worth $682,000 after buying an additional 522 shares during the period. Alphabet Inc. boosted its holdings in SpaceX by 0.7% in the third quarter. Alphabet Inc. now owns 555,043,560 shares of the company’s stock valued at $83,733,871,000 after acquiring an additional 3,854,060 shares during the last quarter. CENTRAL TRUST Co boosted its holdings in SpaceX by 48.3% in the third quarter. CENTRAL TRUST Co now owns 5,121 shares of the company’s stock valued at $773,000 after acquiring an additional 1,668 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in SpaceX by 409.6% during the third quarter. Fifth Third Bancorp now owns 186,298 shares of the company’s stock valued at $28,105,000 after acquiring an additional 149,738 shares during the period.

SpaceX Price Performance

NASDAQ:SPCX opened at $139.94 on Friday. The firm has a 50-day moving average of $149.12. The stock has a market capitalization of $1.90 trillion and a price-to-earnings ratio of 538.23. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. 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 (NASDAQ:SPCX) last issued its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 company earned ($0.36) EPS. SpaceX’s quarterly revenue was up 161.4% on a year-over-year basis. Equities analysts anticipate that SpaceX will post 0.22 EPS for the current year.

Insider Activity at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the firm’s 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 in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Recent SpaceX Headlines

Here are a few of the latest headlines about SPCX:

• Positive Sentiment: SpaceX plans to invest more than $74 billion in supercomputing campuses in Texas and Arizona—about $24 billion in Texas and $50 billion in Arizona. The projects could expand its AI infrastructure capacity and support a major growth area. Reuters article
• 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
• 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

Wall Street Analysts Forecast Growth

SPCX has been the subject of several research analyst reports. Cantor Fitzgerald upped their price target on SpaceX from $246.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Royal Bank Of Canada reissued an “outperform” rating on shares of SpaceX in a research report on Monday, October 19th. UBS Group reissued an “overweight” rating and set a $300.00 target price on shares of SpaceX in a research report on Wednesday, October 21st. Guggenheim started coverage on shares of SpaceX in a report on Friday, August 7th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $245.00 price target on shares of SpaceX in a research report on Wednesday, October 21st. Four analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.60.

SpaceX Company Profile

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.