SpaceX $SPCX Shares Acquired by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its position in SpaceX (NASDAQ:SPCX) by 69.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,082 shares of the company’s stock after buying an additional 5,757 shares during the quarter. Jacobi Capital Management LLC’s holdings in SpaceX were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Viking Fund Management LLC purchased a new stake in shares of SpaceX during the 3rd quarter valued at approximately $1,358,000. Diversify Advisory Services LLC boosted its holdings in SpaceX by 34.0% in the 3rd quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company’s stock worth $7,205,000 after buying an additional 12,292 shares during the period. Avior Wealth Management LLC purchased a new position in SpaceX in the 3rd quarter valued at approximately $2,934,000. Wedbush Securities Inc. purchased a new position in SpaceX in the 2nd quarter valued at approximately $5,094,000. Finally, Apella Capital LLC raised its holdings in SpaceX by 218.2% during the 3rd quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock valued at $1,412,000 after acquiring an additional 5,777 shares during the period.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $250.00 target price on shares of SpaceX in a research report on Wednesday, October 21st. KeyCorp reaffirmed a “sector weight” rating on shares of SpaceX in a report on Wednesday, October 21st. Yorkville Ives started coverage on SpaceX in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $225.00 price target for the company. Piper Sandler reiterated a “neutral” rating on shares of SpaceX in a research note on Wednesday, October 21st. Finally, Barclays increased their price objective on SpaceX from $254.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $243.60.

Insider Activity at SpaceX

In other news, COO Gwynne Shotwell sold 342,170 shares of the business’s stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 2,472,035 shares in the company, valued at $379,630,414.95. The trade was a 12.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Latest SpaceX News

These are some of the SPCX news items that stood out recently:

• Positive Sentiment: Investors are also responding to speculation that former Nvidia CEO Jensen Huang could join SpaceX after Elon Musk said hiring him “would be an honor.” A move could bolster the company’s AI ambitions, but no hiring decision has been announced. Benzinga article
• Neutral Sentiment: A planned Starship Flight 15, including an attempt to catch both rocket stages, is a high-profile test of SpaceX’s reusability plans. Success could strengthen confidence in its long-term ambitions, while the outcome remains uncertain. Barchart article
• Negative Sentiment: The data-center plans require enormous spending and face local approval and infrastructure questions. Analysts have also cautioned that SpaceX will need to work with Texas officials after recent election results to advance its projects, leaving timing and execution risks. Benzinga article

SpaceX Trading Up 0.1%

Shares of NASDAQ:SPCX opened at $139.94 on Friday. The company’s 50 day moving average price is $149.12. The stock has a market capitalization of $1.90 trillion and a PE ratio of 538.23. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a current ratio of 3.08, a quick ratio of 3.00 and a debt-to-equity ratio of 0.20.

SpaceX (NASDAQ:SPCX) last posted its earnings results on Tuesday, October 20th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.25. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The business had revenue of $14.57 billion for the quarter. During the same period last year, the company posted ($0.36) EPS. The business’s revenue was up 161.4% on a year-over-year basis. On average, equities analysts forecast that SpaceX will post 0.22 earnings per share for the current fiscal year.

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.