SpaceX $SPCX Shares Purchased by Gerber Kawasaki Wealth & Investment Management

Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of SpaceX (NASDAQ:SPCX) by 3,085.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,265 shares of the company’s stock after purchasing an additional 48,687 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in SpaceX were worth $7,583,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Pivotal Research raised their price objective on SpaceX from $230.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Yorkville Ives initiated coverage on shares of SpaceX in a research note on Tuesday, October 6th. They set an “outperform” rating and a $225.00 price objective for the company. Erste Group Bank assumed coverage on shares of SpaceX in a report on Thursday, October 8th. They issued a “hold” rating on the stock. Cantor Fitzgerald increased their price objective on shares of SpaceX from $246.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Finally, Oppenheimer raised their target price on shares of SpaceX from $250.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, September 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $244.97.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Boost Mobile talks are the primary catalyst. SpaceX is reportedly discussing either acquiring Boost Mobile or using its network. The deal could provide customers, billing infrastructure and retail distribution, accelerating Starlink’s ambitions to become a major wireless provider. Reuters article
• Positive Sentiment: Strong operating momentum supports the bullish case. Recent reports highlighted $7.6 billion in third-quarter super-intelligence revenue, 13.6 million Starlink subscribers and a 5% sequential increase in consumer average revenue per user. Management also targets substantial expansion of AI-computing capacity through 2027. Seeking Alpha article
• Positive Sentiment: The wireless strategy could broaden SpaceX’s growth profile. Investors see a potential fourth major U.S. mobile operator and an additional revenue engine beyond rockets and satellite broadband. The reports also indicate that several established carriers’ shares weakened on concerns about increased competition. TechCrunch article

SpaceX Price Performance

NASDAQ:SPCX opened at $136.37 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. The stock has a market cap of $1.80 trillion and a price-to-earnings ratio of 524.50. The company’s 50 day moving average price is $149.55. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.57 billion for the quarter. During the same period last year, the company posted ($0.36) earnings per share. The business’s quarterly revenue was up 161.4% on a year-over-year basis. On average, sell-side analysts anticipate that SpaceX will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 2,472,035 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 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.