SpaceX (NASDAQ:SPCX) CEO Elon Musk Sells 11,390 Shares

SpaceX (NASDAQ:SPCX) CEO Elon Musk sold 11,390 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $105.32, for a total value of $1,199,594.80. Following the sale, the chief executive officer directly owned 526,165,900 shares of the company’s stock, valued at approximately $55,415,792,588. This represents a 0.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SpaceX Stock Down 4.9%

Shares of NASDAQ:SPCX opened at $191.82 on Thursday. SpaceX has a fifty-two week low of $149.34 and a fifty-two week high of $225.64.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The company had revenue of $4.69 billion for the quarter.

Analyst Ratings Changes

SPCX has been the topic of a number of research reports. Arete Research set a $401.00 price target on shares of SpaceX in a report on Thursday. New Street Research raised SpaceX to a “strong-buy” rating in a research report on Thursday, June 11th. Oppenheimer set a $190.00 target price on SpaceX and gave the company an “outperform” rating in a research note on Thursday, June 11th. Cfra started coverage on SpaceX in a research report on Friday, June 12th. They set a “sell” rating and a $115.00 price target on the stock. Finally, Zacks Research upgraded SpaceX to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, SpaceX presently has an average rating of “Moderate Buy” and an average target price of $209.20.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX announced a $60 billion all-stock acquisition of AI coding startup Cursor, signaling that management is using its new public currency to deepen its push into AI and enterprise software. SpaceX to acquire the AI coding startup Cursor for $60 billion
• Positive Sentiment: Analysts and market commentators continue to highlight SpaceX’s huge market cap, strong retail demand, and potential index inclusion, which could keep passive and thematic buying interest elevated. SpaceX gains 4% after surpassing Amazon in market cap
• Positive Sentiment: Speculation around a possible SpaceX-Tesla combination and broader AI ambitions has added to the bullish narrative around Elon Musk’s companies. Better off together? Investors weigh up a potential SpaceX-Tesla merger

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.