SpaceX $SPCX Stock: Fifth Third Bancorp Raises Holdings

Fifth Third Bancorp increased its holdings in SpaceX (NASDAQ:SPCX) by 409.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,298 shares of the company’s stock after buying an additional 149,738 shares during the quarter. Fifth Third Bancorp’s holdings in SpaceX were worth $28,105,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SPCX. Syntax Research Inc. acquired a new stake in SpaceX in the second quarter worth about $26,000. Atwood & Palmer Inc. bought a new stake in shares of SpaceX during the 2nd quarter worth about $29,000. PayPay Securities Corp acquired a new stake in shares of SpaceX in the 2nd quarter worth approximately $30,000. Marquette Asset Management LLC acquired a new stake in shares of SpaceX in the 2nd quarter worth approximately $32,000. Finally, Hickory Point Bank & Trust bought a new position in shares of SpaceX in the third quarter valued at approximately $30,000.

SpaceX Trading Down 0.6%

SPCX stock opened at $139.11 on Friday. 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. The business’s 50-day moving average price is $148.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08.

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

Analyst Ratings Changes

Several brokerages recently issued reports on SPCX. Bank of America increased their price objective on SpaceX from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price target on shares of SpaceX in a research report on Wednesday, October 21st. KeyCorp reissued a “sector weight” rating on shares of SpaceX in a report on Friday. Susquehanna boosted their price target on SpaceX from $173.00 to $176.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $245.00 price target on shares of SpaceX in a research report on Wednesday, October 21st. Four 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.60.

Insider Activity

In other news, COO Gwynne Shotwell sold 342,170 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $153.57, for a total transaction of $52,547,046.90. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trending Headlines about SpaceX

These are some of the SPCX headlines 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
• Neutral Sentiment: Potential Tesla merger remains speculative: Bloomberg reports an announcement could come as soon as December, though talks may extend into early 2027. Tesla’s slower recent revenue growth compared with SpaceX could affect the combined company’s growth profile; terms and shareholder implications remain unclear. The Motley Fool: Potential SpaceX-Tesla deal and its impact
• 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 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.