SpaceX (NASDAQ:SPCX) Stock Price Down 3.6% After Insider Selling

SpaceX (NASDAQ:SPCX)’s stock price fell 3.6% during trading on Thursday after an insider sold shares in the company. The company traded as low as $172.11 and last traded at $185.00. 269,785,022 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 261,490,922 shares. The stock had previously closed at $191.82.

Specifically, 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 transaction, the chief executive officer owned 526,165,900 shares in the company, valued at $55,415,792,588. This represents a 0.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Oppenheimer raised their price objective on SpaceX from $190.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday. KGI Securities assumed coverage on SpaceX in a research report on Thursday, June 11th. They set an “outperform” rating on the stock. Wolfe Research started coverage on shares of SpaceX in a report on Friday, June 12th. They issued an “outperform” rating and a $175.00 price objective for the company. Cfra began coverage on shares of SpaceX in a report on Friday, June 12th. They set a “sell” rating and a $115.00 price target on the stock. Finally, Arete Research set a $401.00 price objective on shares of SpaceX and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.20.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s newly public status is still attracting bullish analyst coverage, with some firms highlighting the company’s AI push, Starlink growth, and long-term upside potential. SpaceX Stock Price Forecast — Analyst Sets Street-High Target, Sees 100%+ Upside
• Positive Sentiment: There is also continued strategic enthusiasm around SpaceX’s AI ambitions after its reported $60 billion Cursor acquisition and broader infrastructure plans. Elon Musk Is Unleashing SpaceX’s New War Chest to Solve His AI Problem
• Neutral Sentiment: SpaceX bankers are reportedly preparing a potential $20 billion bond offering, which could strengthen the balance sheet but also adds leverage and financing questions. SpaceX bankers prepare for potential $20 billion bond offering
• Neutral Sentiment: New ETF launches and index-inclusion chatter are supporting trading interest, but they also reinforce that much of the current move is driven by flows and speculation rather than fundamentals. Space ETFs: How SpaceX Is Reshaping the Theme
• Negative Sentiment: Multiple articles say the IPO frenzy is fading, with traders locking in gains after the stock’s rapid rise and analysts warning that the valuation is stretched. SpaceX shares tumble as post-IPO frenzy loses steam
• Negative Sentiment: Bearish coverage is also building around lockup expiration risk and the possibility of early shareholders selling later this summer. SpaceX Stock Will Face a Reckoning When Investor Lockups End

SpaceX Trading Down 3.6%

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

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.