Signature Equity Partners LLC Buys 4,095 Shares of SpaceX $SPCX

Signature Equity Partners LLC boosted its position in SpaceX (NASDAQ:SPCX) by 112.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,739 shares of the company’s stock after purchasing an additional 4,095 shares during the quarter. Signature Equity Partners LLC’s holdings in SpaceX were worth $1,168,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SPCX. James T. Borello RIA boosted its holdings in shares of SpaceX by 41.4% in the 3rd quarter. James T. Borello RIA now owns 246 shares of the company’s stock valued at $37,000 after buying an additional 72 shares in the last quarter. Oakworth Capital Inc. grew its position in shares of SpaceX by 17.8% in 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 acquiring an additional 99 shares in the last quarter. Downshift Financial LLC raised its stake in shares of SpaceX by 25.7% during the 3rd quarter. Downshift Financial LLC now owns 553 shares of the company’s stock worth $83,000 after acquiring an additional 113 shares in the last quarter. Finally, Balance Wealth Partners LLC lifted its position in SpaceX by 5.7% during the third quarter. Balance Wealth Partners LLC now owns 2,261 shares of the company’s stock valued at $341,000 after acquiring an additional 121 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of SpaceX from $214.00 to $274.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Erste Group Bank initiated coverage on SpaceX in a research report on Thursday, October 8th. They set a “hold” rating on the stock. Evercore reiterated an “outperform” rating and set a $275.00 price objective on shares of SpaceX in a report on Friday, October 16th. Weiss Ratings initiated coverage on SpaceX in a report on Tuesday, September 1st. They set a “sell (d)” rating for the company. Finally, Moffett Nathanson raised their price objective on SpaceX from $131.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Four analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, SpaceX currently has an average rating of “Moderate Buy” and a consensus target price of $244.97.

SpaceX News Roundup

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

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction on 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 sale, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Up 1.2%

SpaceX stock opened at $136.37 on Tuesday. The business’s 50-day moving average price is $149.55. The firm has a market capitalization of $1.80 trillion and a P/E ratio of 524.50. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings results 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 company had revenue of $14.57 billion for the quarter. During the same quarter last year, the company posted ($0.36) EPS. SpaceX’s quarterly revenue was up 161.4% compared to the same quarter last year. Research analysts anticipate that SpaceX will post 0.19 EPS for the current fiscal year.

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.