Thrive Capital Management LLC Makes New Investment in SpaceX $SPCX

Thrive Capital Management LLC acquired a new position in shares of SpaceX (NASDAQ:SPCX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,914,205 shares of the company’s stock, valued at approximately $3,231,681,000. SpaceX accounts for about 183.5% of Thrive Capital Management LLC’s holdings, making the stock its biggest position.

Other hedge funds also recently modified their holdings of the company. Viking Fund Management LLC acquired a new position in SpaceX during the third quarter worth $1,358,000. Diversify Advisory Services LLC lifted its stake in shares of SpaceX by 34.0% in the third quarter. Diversify Advisory Services LLC now owns 48,477 shares of the company’s stock valued at $7,205,000 after buying an additional 12,292 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of SpaceX in the second quarter valued at $5,094,000. Avior Wealth Management LLC acquired a new position in shares of SpaceX during the third quarter valued at about $2,934,000. Finally, Apella Capital LLC grew its holdings in shares of SpaceX by 218.2% during the third quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock valued at $1,412,000 after buying an additional 5,777 shares during the last quarter.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s AI business remains a major growth catalyst. Reports indicate that Anthropic became its largest customer and accounted for more than one-third of third-quarter revenue, while SpaceX is reportedly benefiting from substantial demand for Nvidia-powered computing capacity. Anthropic Reportedly Becomes SpaceX’s Top Customer
• Positive Sentiment: Analysts continue to highlight SpaceX’s strong long-term prospects, including rapid AI growth, Starlink expansion and potential demand from Anthropic and other enterprise customers. The company’s AI revenue reportedly rose sharply in the third quarter, supporting the view that SpaceX is evolving beyond launch services. SpaceX vs. Nvidia
• Positive Sentiment: SpaceX launched Ukraine’s first OBRIA test satellite, reinforcing Falcon 9’s commercial launch capabilities and its role in developing independent communications networks. SPCX Launches Satellite for Ukraine’s Communications
• Neutral Sentiment: Speculation about a Tesla-SpaceX combination continues after Elon Musk called a merger strategically attractive, but the proposal would face difficult shareholder-approval, regulatory and governance hurdles. Questions Before a Possible Tesla and SpaceX Merger
• Negative Sentiment: Investors are concerned that SpaceX’s wireless ambitions could require approximately $130 billion beyond its reported spectrum commitments to compete with T-Mobile. T-Mobile also rejected the idea of a broader SpaceX deal, increasing uncertainty around the strategy. SpaceX’s Spectrum Deals May Not Be Enough
• Negative Sentiment: Intel’s cautious guidance intensified concerns about technology spending and AI infrastructure demand, weighing on SpaceX despite the company’s strong growth narrative. Heavy planned capital expenditures make SpaceX particularly sensitive to a broader pullback in AI investment. Why SpaceX Stock Dropped Today
• Negative Sentiment: Anthropic’s importance creates customer-concentration risk: although its reported SpaceX contract could be worth up to $120.5 billion, it may be cancellable with 90 days’ notice after the initial term. Investors are therefore questioning how durable the AI revenue pipeline is. Anthropic Contracts and SpaceX
• Negative Sentiment: SpaceX also faces potential selling pressure as billions of shares have become eligible to trade following IPO lockup releases. That supply overhang, combined with a very demanding valuation and ongoing GAAP losses, is limiting investor enthusiasm. SpaceX Insider Share Unlocks

SpaceX Stock Performance

Shares of NASDAQ SPCX opened at $134.72 on Friday. SpaceX has a twelve month low of $104.83 and a twelve month high of $225.64. The business has a 50 day simple moving average of $149.56. 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 issued its quarterly 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. The company 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%. SpaceX’s quarterly revenue was up 161.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.36) earnings per share. As a group, research analysts anticipate that SpaceX will post 0.13 EPS for the current fiscal year.

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of SpaceX 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 sale, the chief operating officer owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. The trade was a 12.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SPCX shares. Morgan Stanley reaffirmed an “overweight” rating on shares of SpaceX in a research report on Wednesday, October 21st. Yorkville Ives initiated coverage on SpaceX in a research note on Tuesday, October 6th. They set an “outperform” rating and a $225.00 price target for the company. Wells Fargo & Company boosted their price objective on SpaceX from $214.00 to $274.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. The Goldman Sachs Group reissued a “buy” rating and issued a $245.00 price objective on shares of SpaceX in a research note on Wednesday, October 21st. Finally, Susquehanna raised their target price on SpaceX from $173.00 to $176.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Four analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.97.

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.