SpaceX $SPCX Stock Acquired by Generate Investment Management Ltd

Generate Investment Management Ltd lifted its holdings in SpaceX (NASDAQ:SPCX) by 999.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,129 shares of the company’s stock after buying an additional 91,022 shares during the quarter. Generate Investment Management Ltd’s holdings in SpaceX were worth $15,107,000 as of its most recent SEC filing.

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

Insider Activity

In related news, COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were 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 in the company, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Evercore assumed coverage on shares of SpaceX in a report on Tuesday, July 14th. They issued an “outperform” rating and a $230.00 price target on the stock. Canaccord Genuity Group began coverage on shares of SpaceX in a research note on Tuesday, July 7th. They set a “buy” rating and a $246.00 price objective for the company. JPMorgan Chase & Co. restated a “buy” rating on shares of SpaceX in a research report on Tuesday, August 25th. Citigroup lowered SpaceX from a “buy” rating to a “sell” rating in a research note on Friday, August 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a research note on Tuesday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.06.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analyst support remains strong: Morgan Stanley reiterated an Overweight rating and a $300 price target, while Raymond James maintained a Strong Buy rating with an $800 target. Analysts point to Starship, Starlink and potential wireless and AI businesses as long-term catalysts. Morgan Stanley sets SpaceX stock price target
• Positive Sentiment: Starlink is adding customers rapidly: SpaceX reportedly added about 570,000 subscribers per month in the second quarter, supporting the company’s only profitable major business and potentially generating roughly $450 million in additional annualized revenue per monthly subscriber cohort. Starlink Is Adding 570,000 Subscribers a Month
• Positive Sentiment: Operational momentum continues: A successful Falcon 9 cargo and Starlink launch reinforces SpaceX’s launch execution, while its proposal to increase Starship activity to as many as 456 launches annually could materially expand capacity if regulators approve it. SpaceX successfully launches cargo to the ISS
• Neutral Sentiment: Upcoming share unlock: As many as 1.3 billion additional shares may become eligible for trading on October 24. Earlier unlocks have not consistently caused major declines, but the event could increase short-term volatility and supply. SpaceX share unlocks
• Negative Sentiment: Ukraine-related controversy is weighing on sentiment: Ukrainian officials and Reuters reported that SpaceX restricted or slowed military Starlink terminals, disrupting combat missions. The episode raises reputational, political and contract risks. Ukraine accuses SpaceX of crippling drone missions
• Negative Sentiment: Investors are concerned about spending and leverage: SpaceX is reportedly seeking up to $40 billion in new debt while funding AI infrastructure, spectrum acquisitions, terrestrial wireless capabilities and satellite expansion. Critics argue Starlink Mobile could require billions more before producing meaningful revenue. SpaceX wants $40 billion in new debt
• Negative Sentiment: Wireless competition remains unproven: Telecom executives and analysts question whether Starlink Mobile can match terrestrial networks, while regulatory delays in India and infrastructure, device-compatibility and spectrum costs add execution risk. SpaceX Starlink Mobile’s biggest hurdle

SpaceX Price Performance

NASDAQ:SPCX traded down $2.94 on Wednesday, reaching $153.60. The stock had a trading volume of 37,749,767 shares, compared to its average volume of 100,859,461. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The stock has a market cap of $2.02 trillion and a P/E ratio of -1,707.87. The stock’s fifty day simple moving average is $146.63. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. The firm’s quarterly revenue was up 91.9% compared to the same quarter last year. As a group, research analysts forecast that SpaceX will post 0.07 earnings per share for the current fiscal year.

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.