20,483 SpaceX $SPCX Shares Purchased by Principle Wealth Partners LLC

Principle Wealth Partners LLC lifted its stake in SpaceX (NASDAQ:SPCX – Free Report) by 93.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,499 shares of the company’s stock after purchasing an additional 20,483 shares during the period. Principle Wealth Partners LLC’s holdings in SpaceX were worth $6,411,000 at the end of the most recent reporting period.

SpaceX Sent Verizon and T-Mobile Stocks Tumbling—Did Wall Street Overreact?

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

SpaceX Stock Down 9.0%

Shares of SpaceX stock opened at $123.62 on Friday. The firm has a 50-day simple moving average of $149.32. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The stock has a market capitalization of $1.68 trillion and a P/E ratio of 475.46. 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 Starlink’s Telecom Ground Game Takes Shape

SpaceX (NASDAQ:SPCX – Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The business’s revenue was up 161.4% on a year-over-year basis. During the same period last year, the company earned ($0.36) EPS. On average, equities analysts expect that SpaceX will post 0.19 earnings per share for the current year.

More SpaceX News

Here are the key news stories impacting SpaceX this week:

Positive Sentiment: Starlink Mobile gains a major technology partner. SpaceX selected Qualcomm to supply 5G infrastructure technology for its planned U.S. wireless network, supporting its effort to expand beyond satellite connectivity and compete with established carriers. Article: SpaceX signs deal with Qualcomm to provide network technology for U.S. mobile service
Positive Sentiment: Analyst coverage offers a counterpoint to the selloff. China Renaissance initiated coverage with a Buy rating and a $194.20 price target, while a separate valuation update cited potential upside from AI and Starlink growth. These are analyst views, not assurances of future performance. Article: SpaceX Stock Today Has These 2 Positives. The Stock Is Still Falling.
Neutral Sentiment: A proposed change to U.S. launch rules could benefit SpaceX. The proposal may create a more favorable operating environment, but its eventual impact depends on the final rules and implementation. Article: US proposes space launch rule changes in potential boost for SpaceX
Negative Sentiment: Election results have raised political and regulatory uncertainty. With Democrats controlling Congress and Texas turning blue, investors fear tougher scrutiny and permitting hurdles for AI data centers, as well as obstacles to SpaceX’s expansion and a potential Tesla merger. Article: SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook
Negative Sentiment: AI exposure and funding needs are weighing on sentiment. The broader AI-stock retreat is hitting SpaceX as investors question the cost and returns of its large computing buildout. Reports that debt-default insurance costs reached a record high add to concerns about perceived credit risk and financing. Article: Elon Musk’s SpaceX Default Risk Hits Record High as Democratic Sweep Adds to AI Rout

Insiders Place Their Bets

AST SpaceMobile’s Brazil Breakthrough Could Set the Stage for a Q3 Stock Rebound

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. This represents a 12.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SPCX. Mizuho set a $205.00 target price on shares of SpaceX in a report on Wednesday, October 21st. Yorkville Ives started coverage on shares of SpaceX in a research note on Tuesday, October 6th. They set an “outperform” rating and a $225.00 target price on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of SpaceX in a report on Wednesday, October 14th. Royal Bank Of Canada reiterated an “outperform” rating on shares of SpaceX in a research report on Monday, October 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $250.00 price objective on shares of SpaceX in a research note on Wednesday, October 21st. Four investment 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 given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.60.

Check Out Our Latest Analysis on SPCX

SpaceX Profile

(Free Report)

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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