SpaceX $SPCX Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its holdings in SpaceX (NASDAQ:SPCX) by 29.9% during the third quarter, HoldingsChannel reports. The fund owned 37,389 shares of the company’s stock after purchasing an additional 8,607 shares during the period. Maryland State Retirement & Pension System’s holdings in SpaceX were worth $5,641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPCX. Advisor Resource Council acquired a new stake in shares of SpaceX during the third quarter worth about $461,000. Ritholtz Wealth Management lifted its stake in SpaceX by 289.2% in the 3rd quarter. Ritholtz Wealth Management now owns 8,111 shares of the company’s stock valued at $1,224,000 after buying an additional 6,027 shares in the last quarter. Joel Isaacson & Co. LLC purchased a new stake in SpaceX during the 3rd quarter worth about $388,000. Jacobi Capital Management LLC raised its stake in SpaceX by 69.2% in the 3rd quarter. Jacobi Capital Management LLC now owns 14,082 shares of the company’s stock valued at $2,124,000 after purchasing an additional 5,757 shares during the last quarter. Finally, Cherokee Insurance Co raised its stake in SpaceX by 100.0% in the 3rd quarter. Cherokee Insurance Co now owns 5,000 shares of the company’s stock valued at $754,000 after purchasing an additional 2,500 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Mizuho set a $205.00 target price on shares of SpaceX in a report on Wednesday, October 21st. HSBC reiterated a “hold” rating on shares of SpaceX in a report on Wednesday, October 21st. Weiss Ratings initiated coverage on shares of SpaceX in a research report on Tuesday, September 1st. They issued a “sell (d)” rating for the company. Bank of America upped their price objective on shares of SpaceX from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Argus upgraded shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, SpaceX has a consensus rating of “Moderate Buy” and a consensus target price of $243.60.

SpaceX Price Performance

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. The stock has a market cap of $1.90 trillion and a PE ratio of 538.23. The company has a 50-day simple moving average of $149.12. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data 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 net margin of 8.61% and a negative return on equity of 3.24%. The business 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 company’s revenue was up 161.4% on a year-over-year basis. Equities research analysts anticipate that SpaceX will post 0.22 earnings per share for the current year.

Top SpaceX Stories

Here are a few of the latest stories 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
• 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

Insider Buying and Selling

In related news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the completion of the transaction, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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.