SpaceX (NASDAQ:SPCX) CEO Elon Musk Sells 11,390 Shares

SpaceX (NASDAQ:SPCX) CEO Elon Musk sold 11,390 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $105.32, for a total transaction of $1,199,594.80. Following the completion of the sale, the chief executive officer directly owned 526,165,900 shares in the company, valued at approximately $55,415,792,588. This represents a 0.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

SpaceX Stock Performance

Shares of SpaceX stock traded down $9.98 during trading hours on Wednesday, hitting $191.82. The company had a trading volume of 200,385,929 shares, compared to its average volume of 259,562,641. SpaceX has a twelve month low of $149.34 and a twelve month high of $225.64.

SpaceX (NASDAQ:SPCX) last issued its earnings results on Thursday, May 7th. The company reported ($1.27) earnings per share (EPS) for the quarter. The firm had revenue of $4.69 billion for the quarter.

Wall Street Analysts Forecast Growth

SPCX has been the subject of several research analyst reports. Zacks Research upgraded shares of SpaceX to a “hold” rating in a report on Monday. KGI Securities initiated coverage on shares of SpaceX in a research note on Thursday, June 11th. They set an “outperform” rating for the company. New Street Research upgraded shares of SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Cfra initiated coverage on shares of SpaceX in a research note on Friday, June 12th. They set a “sell” rating and a $115.00 price target for the company. Finally, Wolfe Research initiated coverage on shares of SpaceX in a research note on Friday, June 12th. They set an “outperform” rating and a $175.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SpaceX currently has an average rating of “Moderate Buy” and a consensus target price of $161.25.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s blockbuster IPO and soaring demand have kept the stock in the spotlight, with bullish commentary centered on Elon Musk’s growth ambitions, AI expansion, and the potential for more index-fund buying. Article Title
• Positive Sentiment: SpaceX also announced a major AI push by agreeing to buy Cursor parent Anysphere in a $60 billion all-stock deal, which some investors see as evidence the company is broadening beyond rockets and Starlink. Article Title
• Neutral Sentiment: SpaceX named Sequoia veteran Roelof Botha to its board, a governance update that adds credibility but does not materially change the near-term operating outlook. Article Title
• Neutral Sentiment: New options trading and ETF launches tied to SpaceX are increasing liquidity and trading activity, but they are also adding volatility rather than providing clear fundamental support. Article Title
• Negative Sentiment: Analysts and skeptics are warning that SpaceX’s valuation has run far ahead of earnings and sales, making the stock vulnerable to a sharp pullback if momentum fades. Article Title
• Negative Sentiment: Some reports say the current rally is being driven by a tiny float, heavy speculative options activity, and lock-up concerns, which could create downside pressure as more shares eventually hit the market. Article Title

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.