SpaceX $SPCX Shares Newly Purchased by Family Legacy Financial Solutions LLC

Family Legacy Financial Solutions LLC acquired a new stake in shares of SpaceX (NASDAQ:SPCX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,792 shares of the company’s stock, valued at approximately $723,000. SpaceX accounts for approximately 0.4% of Family Legacy Financial Solutions LLC’s holdings, making the stock its 29th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. SC US Ttgp LTD. acquired a new position in shares of SpaceX in the 2nd quarter valued at approximately $20,933,621,000. Darsana Capital Partners LP acquired a new stake in SpaceX in the 2nd quarter valued at approximately $17,335,783,000. K5 Global Advisor LLC acquired a new stake in SpaceX in the second quarter worth about $6,587,531,000. State Street Corp acquired a new stake in shares of SpaceX in the second quarter valued at $1,858,329,000. Finally, Dragoneer Investment Group LLC bought a new position in shares of SpaceX during the 2nd quarter valued at about $1,366,880,000.

Analyst Upgrades and Downgrades

SPCX has been the topic of several research analyst reports. Roth Capital upgraded shares of SpaceX to a “buy” rating in a research report on Monday, June 22nd. Bank of America began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They issued a “buy” rating and a $235.00 target price on the stock. Mizuho began coverage on shares of SpaceX in a report on Tuesday, July 7th. They set an “outperform” rating and a $200.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of SpaceX in a research report on Tuesday, August 25th. Finally, Pivotal Research initiated coverage on shares of SpaceX in a report on Tuesday, September 8th. They set a “buy” rating and a $220.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.76.

SpaceX Stock Down 2.5%

Shares of SPCX stock traded down $4.32 during trading hours on Wednesday, hitting $167.60. 77,089,279 shares of the company’s stock traded hands, compared to its average volume of 102,944,063. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.21 trillion and a PE ratio of -1,862.22. The firm has a 50 day moving average price of $142.98.

SpaceX (NASDAQ:SPCX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.17. The company had revenue of $7.81 billion for the quarter. SpaceX’s quarterly revenue was up 91.9% on a year-over-year basis. As a group, equities research analysts expect that SpaceX will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX reportedly won FCC approval to deploy up to 15,000 Starlink satellites for direct-to-device service. The agency also waived a ground-carrier leasing requirement, potentially accelerating Starlink’s ability to connect ordinary smartphones. SpaceX wins FCC approval for 15,000 Starlink satellites
• Positive Sentiment: The FCC is also considering an auction of 25 MHz of prime spectrum for satellite-to-phone services, which could benefit SpaceX’s direct-to-device business if the proposal advances. FCC spectrum auction proposal
• Positive Sentiment: Susquehanna raised its SpaceX price target to $173 from $144, citing growth across the company’s core businesses, although it retained a neutral rating. Susquehanna raises SpaceX price target
• Neutral Sentiment: SpaceX is reportedly discussing approximately $40 billion of financing—about $10 billion in loans and $30 billion in investment-grade bonds—to purchase Nvidia GPUs and expand its terrestrial AI-compute capacity. Supporters view the spending as a way to build a major new recurring-revenue business; investors are focused on execution and repayment capacity. Apollo and banks discuss financing SpaceX GPU purchase
• Negative Sentiment: The proposed borrowing is large relative to SpaceX’s existing business and has raised concerns about leverage, valuation, and whether projected AI-compute cash flow will arrive quickly enough. The debt news appears to be the main reason shares retreated after their recent advance.
• Negative Sentiment: Investors are also watching a potential release of up to 328.4 million shares on October 9, which could increase supply and create additional selling pressure. Cathie Wood’s ARK Invest separately sold approximately $9.4 million of SpaceX stock. SpaceX share unlock

SpaceX Profile

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.