Means Investment CO. Inc. Purchases New Stake in SpaceX $SPCX

Means Investment CO. Inc. purchased a new stake in shares of SpaceX (NASDAQ:SPCX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,327 shares of the company’s stock, valued at approximately $653,000.

Several other institutional investors also recently bought and sold shares of SPCX. Landmark Wealth Management LLC purchased a new position in SpaceX in the third quarter valued at about $223,000. M Holdings Securities Inc. acquired a new position in SpaceX during the 3rd quarter worth $2,391,000. Shepherd Financial Partners LLC acquired a new stake in SpaceX during the third quarter valued at approximately $373,000. Avantax Planning Partners Inc. lifted its stake in SpaceX by 220.6% during the third quarter. Avantax Planning Partners Inc. now owns 11,190 shares of the company’s stock worth $1,688,000 after purchasing an additional 7,700 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of SpaceX by 1,824.7% in the 3rd quarter. Brighton Jones LLC now owns 112,458 shares of the company’s stock valued at $16,965,000 after buying an additional 106,615 shares during the period.

Analyst Upgrades and Downgrades

SPCX has been the subject of several recent research reports. Argus raised SpaceX from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Friday, August 7th. CLSA initiated coverage on SpaceX in a research report on Monday, September 28th. They set an “outperform” rating and a $250.00 price objective for the company. Cantor Fitzgerald upped their price objective on SpaceX from $246.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Mizuho set a $205.00 price objective on SpaceX in a research note on Wednesday, October 21st. Finally, Pivotal Research increased their target price on SpaceX from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Four equities research 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.60.

More 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

Insider Buying and Selling

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of SpaceX stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the sale, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at $379,630,414.95. The trade was a 12.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

SpaceX Stock Performance

NASDAQ SPCX opened at $134.27 on Monday. The stock has a 50-day moving average price of $149.18. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a market cap of $1.82 trillion and a PE ratio of 516.42. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20.

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

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.