Danica Pension Livsforsikringsaktieselskab Buys 20,111 Shares of SpaceX $SPCX

Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of SpaceX (NASDAQ:SPCX) during the third quarter, Holdings Channel.com reports. The fund purchased 20,111 shares of the company’s stock, valued at approximately $3,034,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alphabet Inc. raised its position in shares of SpaceX by 0.7% in the third quarter. Alphabet Inc. now owns 555,043,560 shares of the company’s stock worth $83,733,871,000 after acquiring an additional 3,854,060 shares during the period. SC US Ttgp LTD. acquired a new stake in shares of SpaceX during the 2nd quarter valued at about $20,933,621,000. Darsana Capital Partners LP acquired a new stake in shares of SpaceX during the 2nd quarter valued at about $17,335,783,000. K5 Global Advisor LLC purchased a new position in shares of SpaceX in the 2nd quarter valued at about $6,587,531,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of SpaceX in the 3rd quarter valued at about $4,224,143,000.

Analyst Upgrades and Downgrades

SPCX has been the topic of a number of recent analyst reports. Argus upgraded SpaceX from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Friday, August 7th. Royal Bank Of Canada restated an “outperform” rating on shares of SpaceX in a research report on Monday, October 19th. Yorkville Ives started coverage on SpaceX in a research note on Tuesday, October 6th. They set an “outperform” rating and a $225.00 target price for the company. Mizuho set a $205.00 target price on SpaceX in a research report on Wednesday, October 21st. Finally, Susquehanna lifted their price target on shares of SpaceX from $173.00 to $176.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.60.

SpaceX Stock Performance

Shares of NASDAQ:SPCX traded down $0.83 during trading on Friday, reaching $139.11. The stock had a trading volume of 76,552,723 shares, compared to its average volume of 113,965,480. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average of $148.90. The company has a market cap of $1.89 trillion and a PE ratio of 535.04. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64.

SpaceX (NASDAQ:SPCX) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.10 by $0.25. The firm had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The firm’s revenue for the quarter was up 161.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.36) earnings per share. Sell-side analysts expect that SpaceX will post 0.22 earnings per share for the current year.

Insider Activity

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.

Top SpaceX Stories

These are some of the SPCX stories that stood out recently:

• Positive Sentiment: AI expansion could add a major growth engine: SpaceX plans to invest more than $74 billion in supercomputing campuses in Texas and Arizona. Its latest reported quarterly revenue rose 161% year over year, underscoring the company’s rapid growth. Reuters: SpaceX to invest over $74 billion in supercompute facilities
• 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

SpaceX Company 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.