CenterBook Partners LP cut its position in shares of SpaceX (NASDAQ:SPCX – Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 109,105 shares of the company’s stock after selling 11,766 shares during the quarter. SpaceX accounts for 0.7% of CenterBook Partners LP’s investment portfolio, making the stock its 20th biggest holding. CenterBook Partners LP’s holdings in SpaceX were worth $16,460,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of SPCX. James T. Borello RIA grew its holdings in SpaceX by 41.4% in the third quarter. James T. Borello RIA now owns 246 shares of the company’s stock valued at $37,000 after purchasing an additional 72 shares during the last quarter. Oakworth Capital Inc. raised its stake in shares of SpaceX by 17.8% during the 3rd quarter. Oakworth Capital Inc. now owns 483 shares of the company’s stock worth $73,000 after buying an additional 73 shares during the last quarter. Fonville Wealth Management LLC raised its stake in shares of SpaceX by 3.8% during the 3rd quarter. Fonville Wealth Management LLC now owns 2,719 shares of the company’s stock worth $410,000 after buying an additional 99 shares during the last quarter. Downshift Financial LLC boosted its position in shares of SpaceX by 25.7% in the 3rd quarter. Downshift Financial LLC now owns 553 shares of the company’s stock worth $83,000 after buying an additional 113 shares in the last quarter. Finally, Balance Wealth Partners LLC boosted its position in shares of SpaceX by 5.7% in the 3rd quarter. Balance Wealth Partners LLC now owns 2,261 shares of the company’s stock worth $341,000 after buying an additional 121 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on SPCX shares. Citigroup raised their target price on shares of SpaceX from $200.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $245.00 price target on shares of SpaceX in a report on Wednesday, October 21st. Erste Group Bank began coverage on shares of SpaceX in a research report on Thursday, October 8th. They issued a “hold” rating on the stock. China Renaissance assumed coverage on shares of SpaceX in a research note on Thursday. They set a “buy” rating and a $194.20 price objective for the company. Finally, UBS Group restated an “overweight” rating and set a $300.00 price objective 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 assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $243.60.
Read Our Latest Research Report on SpaceX
SpaceX Stock Performance
SpaceX stock traded up $10.65 during midday trading on Friday, reaching $134.27. 114,740,906 shares of the company were exchanged, compared to its average volume of 102,187,288. The firm has a market capitalization of $1.82 trillion and a P/E ratio of 516.42. The company’s 50-day moving average is $149.18. SpaceX has a 1 year low of $104.83 and a 1 year 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 – Get Free Report) last released 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. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company had revenue of $14.57 billion for the quarter. During the same quarter last year, the company posted ($0.36) earnings per share. SpaceX’s revenue for the quarter was up 161.4% on a year-over-year basis. On average, analysts forecast that SpaceX will post 0.19 EPS for the current fiscal year.
Insider Buying and Selling at SpaceX
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 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 filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Key SpaceX News
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
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.
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