SpaceX $SPCX Stock Holdings Raised by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its stake in shares of SpaceX (NASDAQ:SPCX) by 75.1% 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 21,540 shares of the company’s stock after purchasing an additional 9,238 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in SpaceX were worth $3,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Csenge Advisory Group grew its position in shares of SpaceX by 817.3% in the 3rd quarter. Csenge Advisory Group now owns 39,546 shares of the company’s stock worth $5,966,000 after buying an additional 35,235 shares during the last quarter. Gables Capital Management Inc. lifted its position in SpaceX by 78.2% during the third quarter. Gables Capital Management Inc. now owns 12,328 shares of the company’s stock valued at $1,860,000 after acquiring an additional 5,408 shares during the last quarter. D Orazio & Associates Inc. purchased a new stake in SpaceX during the third quarter valued at approximately $24,702,000. Marathon Wealth Advisors LLC purchased a new stake in SpaceX during the third quarter valued at approximately $231,000. Finally, Account Management LLC acquired a new stake in SpaceX in the third quarter valued at approximately $1,343,000.

SpaceX Stock Performance

Shares of SPCX opened at $139.75 on Thursday. The stock’s 50-day moving average is $149.13. The firm has a market cap of $1.90 trillion and a P/E ratio of 537.50. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. SpaceX has a fifty-two week low of $104.83 and a fifty-two week high of $225.64.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.10 by $0.25. The business 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 company’s revenue for the quarter was up 161.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.36) EPS. Analysts forecast that SpaceX will post 0.22 EPS for the current year.

Analyst Ratings Changes

SPCX has been the topic of several analyst reports. Erste Group Bank started coverage on shares of SpaceX in a report on Thursday, October 8th. They issued a “hold” rating on the stock. Mizuho set a $205.00 price target on SpaceX in a research report on Wednesday, October 21st. Phillip Securities upgraded SpaceX from a “strong sell” rating to a “strong-buy” rating in a report on Friday, October 23rd. Susquehanna raised their price objective on SpaceX from $173.00 to $176.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Finally, TD Cowen boosted their target price on SpaceX from $200.00 to $224.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.60.

SpaceX News Summary

Here’s some of the latest news about SPCX:

• Positive Sentiment: The FCC accepted SpaceX’s application to acquire 546 spectrum licenses, a step toward its planned nationwide 5G push with Starlink. The deal could expand the company’s addressable market, though it still requires regulatory approval. Article: SpaceX Scores Key FCC Breakthrough in $8 Billion Spectrum Deal
• Negative Sentiment: Near-term caution centers on Friday’s Starship Flight 15: SpaceX plans to catch both rocket stages with its launch tower, a first for the company and an unproven maneuver. A failed recovery could delay progress on reusability; the launch uncertainty has been cited as a source of investor jitters. Article: SpaceX shares slip amid upcoming Starship test flight jitters
• Negative Sentiment: Coverage also flagged scrutiny of Starlink speeds and a court ruling allowing a sexual-harassment case against SpaceX to proceed, adding service-quality and legal risks to the near-term outlook. Article: SpaceX stock slips ahead of Starship test as Starlink speeds face scrutiny

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total value of $52,547,046.90. Following the completion of the sale, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. This represents a 12.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.