SpaceX $SPCX Shares Newly Purchased by Modera Wealth Management LLC

Modera Wealth Management LLC bought a new position in shares of SpaceX (NASDAQ:SPCX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,683 shares of the company’s stock, valued at approximately $706,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPCX. Viking Fund Management LLC bought a new stake in SpaceX during the third quarter worth $1,358,000. Diversify Advisory Services LLC lifted its stake in SpaceX by 34.0% during the 3rd quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company’s stock valued at $7,205,000 after acquiring an additional 12,292 shares in the last quarter. Avior Wealth Management LLC bought a new position in SpaceX during the 3rd quarter valued at $2,934,000. Wedbush Securities Inc. bought a new position in SpaceX during the 2nd quarter valued at $5,094,000. Finally, Apella Capital LLC boosted its holdings in SpaceX by 218.2% during the 3rd quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock worth $1,412,000 after acquiring an additional 5,777 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SPCX shares. Argus upgraded shares of SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a research note on Friday, August 7th. Wolfe Research reissued an “outperform” rating and set a $175.00 price target on shares of SpaceX in a research report on Wednesday, August 26th. KeyCorp restated a “sector weight” rating on shares of SpaceX in a report on Wednesday, October 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a research report on Wednesday, October 21st. Finally, Seaport Research Partners lowered shares of SpaceX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.97.

SpaceX Trading Up 1.2%

Shares of SpaceX stock opened at $136.37 on Tuesday. The stock’s fifty day simple moving average is $149.55. 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 has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a market capitalization of $1.80 trillion and a price-to-earnings ratio of 524.50.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data 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 return on equity of 3.24% and a negative net margin of 8.61%. The firm had revenue of $14.57 billion during the quarter. During the same quarter last year, the company earned ($0.36) EPS. The firm’s revenue for the quarter was up 161.4% compared to the same quarter last year. Analysts predict that SpaceX will post 0.19 EPS for the current fiscal year.

Insider Activity at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the business’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 transaction, the chief operating officer directly owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

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.