SpaceX $SPCX Stock: Canvas Wealth Advisors LLC Boosts Position

Canvas Wealth Advisors LLC boosted its holdings in SpaceX (NASDAQ:SPCX) by 286.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,699 shares of the company’s stock after acquiring an additional 43,495 shares during the quarter. SpaceX comprises approximately 1.0% of Canvas Wealth Advisors LLC’s portfolio, making the stock its 25th biggest holding. Canvas Wealth Advisors LLC’s holdings in SpaceX were worth $8,446,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer boosted their price target on SpaceX from $250.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. raised their price objective on SpaceX from $240.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Argus raised SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Friday, August 7th. Barclays boosted their target price on SpaceX from $254.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $235.00 target price on shares of SpaceX in a report on Monday, September 28th. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.60.

SpaceX Trading Up 8.6%

Shares of SPCX stock traded up $10.65 during trading hours on Friday, hitting $134.27. The company’s stock had a trading volume of 114,740,906 shares, compared to its average volume of 102,187,288. 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 stock has a fifty day moving average of $149.18. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The firm has a market capitalization of $1.82 trillion and a PE ratio of 516.42.

SpaceX (NASDAQ:SPCX) last posted its earnings results 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 firm 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%. SpaceX’s quarterly revenue was up 161.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) EPS. On average, equities analysts expect that SpaceX will post 0.19 EPS for the current fiscal year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
• Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
• Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
• Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
• Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction 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 sale, the chief operating officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX 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.