SpaceX $SPCX Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its stake in shares of SpaceX (NASDAQ:SPCX) by 29.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,389 shares of the company’s stock after acquiring an additional 8,607 shares during the quarter. Maryland State Retirement & Pension System’s holdings in SpaceX were worth $5,641,000 at the end of the most recent reporting period.

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

SpaceX Trading Up 0.1%

Shares of SPCX opened at $139.94 on Friday. The stock has a market cap of $1.90 trillion and a price-to-earnings ratio of 538.23. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The firm has a 50-day moving average of $149.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08.

SpaceX (NASDAQ:SPCX) last announced its 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. The company had revenue of $14.57 billion during the quarter. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The company’s quarterly revenue was up 161.4% compared to the same quarter last year. During the same period last year, the business earned ($0.36) EPS. Equities research analysts forecast that SpaceX will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Arete Research set a $450.00 price target on shares of SpaceX in a research report on Tuesday, August 11th. KeyCorp reaffirmed a “sector weight” rating on shares of SpaceX in a report on Wednesday, October 21st. Morgan Stanley reissued an “overweight” rating on shares of SpaceX in a research note on Wednesday, October 21st. Weiss Ratings began coverage on SpaceX in a report on Tuesday, September 1st. They set a “sell (d)” rating on the stock. Finally, Wall Street Zen raised shares of SpaceX from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, SpaceX currently has a consensus rating of “Moderate Buy” and an average price target of $243.60.

Top SpaceX Stories

Investors following SPCX have been watching these stories:

• Positive Sentiment: SpaceX plans to invest more than $74 billion in supercomputing campuses in Texas and Arizona—about $24 billion in Texas and $50 billion in Arizona. The projects could expand its AI infrastructure capacity and support a major growth area. Reuters article
• Positive Sentiment: Investors are also responding to speculation that former Nvidia CEO Jensen Huang could join SpaceX after Elon Musk said hiring him “would be an honor.” A move could bolster the company’s AI ambitions, but no hiring decision has been announced. Benzinga article
• Negative Sentiment: The data-center plans require enormous spending and face local approval and infrastructure questions. Analysts have also cautioned that SpaceX will need to work with Texas officials after recent election results to advance its projects, leaving timing and execution risks. Benzinga article

Insider Activity at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction 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 sale, the chief operating officer owned 2,472,035 shares in the company, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their position. The transaction 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.

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.