SpaceX $SPCX Shares Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. raised its position in SpaceX (NASDAQ:SPCX) by 132.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,634 shares of the company’s stock after acquiring an additional 28,811 shares during the quarter. Phoenix Financial Ltd.’s holdings in SpaceX were worth $7,639,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. James T. Borello RIA lifted its stake in shares of SpaceX by 41.4% in the 3rd quarter. James T. Borello RIA now owns 246 shares of the company’s stock worth $37,000 after purchasing an additional 72 shares during the period. Oakworth Capital Inc. grew its position in SpaceX by 17.8% during the third quarter. Oakworth Capital Inc. now owns 483 shares of the company’s stock valued at $73,000 after buying an additional 73 shares during the period. Drive Wealth Management LLC grew its position in SpaceX by 5.5% during the third quarter. Drive Wealth Management LLC now owns 1,776 shares of the company’s stock valued at $268,000 after buying an additional 93 shares during the period. Fonville Wealth Management LLC increased its holdings in SpaceX by 3.8% during the third quarter. Fonville Wealth Management LLC now owns 2,719 shares of the company’s stock valued at $410,000 after buying an additional 99 shares during the last quarter. Finally, Downshift Financial LLC increased its holdings in SpaceX by 25.7% during the third quarter. Downshift Financial LLC now owns 553 shares of the company’s stock valued at $83,000 after buying an additional 113 shares during the last quarter.

Insider Activity at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the company’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 transaction, the chief operating officer 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

More SpaceX News

Investors following SPCX have been watching these news items:

• Positive Sentiment: Investor backing and Starship potential: Thrive Capital more than doubled its SpaceX stake in the third quarter, with the position valued at about $7.1 billion. Morgan Stanley’s Adam Jonas also sees a successful first attempt to catch both Starship stages as a meaningful milestone that could support a higher valuation. Benzinga: Thrive Capital increases its SpaceX stake
• Negative Sentiment: High spending and hurdles raise execution risk: SpaceX expects to spend $35 billion to $40 billion this quarter, while its AI-campus plans face permitting scrutiny, including a pending Arizona hearing. The planned Starship test also still awaited FAA approval shortly before launch, leaving a high-profile catalyst uncertain. Benzinga: Starship Flight 15 awaiting FAA approval
• Negative Sentiment: Merger scrutiny adds uncertainty: Texas Attorney General-elect Nathan Johnson has signaled rigorous review of a possible SpaceX-Tesla combination, creating a potential political and regulatory obstacle. These concerns may help explain why ambitious growth news has not fully eased pressure on SPCX. Yahoo Finance: Incoming Texas AG vows scrutiny of potential merger

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SPCX shares. Cantor Fitzgerald lifted their price target on shares of SpaceX from $246.00 to $345.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. China Renaissance assumed coverage on SpaceX in a report on Thursday, November 5th. They issued a “buy” rating and a $194.20 target price on the stock. Yorkville Ives assumed coverage on SpaceX in a report on Tuesday, October 6th. They issued an “outperform” rating and a $225.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating on shares of SpaceX in a research report on Wednesday, October 21st. Finally, Deutsche Bank reissued a “buy” rating and set a $235.00 price target on shares of SpaceX in a report on Monday, September 28th. Four 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.60.

SpaceX Price Performance

Shares of NASDAQ SPCX traded down $0.83 during midday trading on Friday, reaching $139.11. 76,552,723 shares of the stock traded hands, compared to its average volume of 113,965,480. The company has a quick ratio of 3.00, a current ratio of 3.08 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1.89 trillion and a PE ratio of 535.04. SpaceX has a one year low of $104.83 and a one year high of $225.64. The stock has a 50 day moving average of $148.90.

SpaceX (NASDAQ:SPCX) last posted its earnings results 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. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The firm had revenue of $14.57 billion for the quarter. During the same quarter last year, the firm earned ($0.36) earnings per share. The business’s quarterly revenue was up 161.4% on a year-over-year basis. As a group, equities analysts forecast that SpaceX will post 0.22 EPS for the current 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.