Sequoia Financial Advisors LLC Takes Position in SpaceX $SPCX

Sequoia Financial Advisors LLC bought a new position in shares of SpaceX (NASDAQ:SPCX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,954 shares of the company’s stock, valued at approximately $2,726,000.

A number of other large investors have also recently bought and sold shares of the company. Wedbush Securities Inc. acquired a new stake in SpaceX during the 2nd quarter valued at approximately $5,094,000. Hyperion Asset Management Ltd purchased a new stake in shares of SpaceX in the 2nd quarter valued at $201,137,000. K5 Global Advisor LLC acquired a new stake in shares of SpaceX in the second quarter worth $6,587,531,000. Assenagon Asset Management S.A. purchased a new position in shares of SpaceX during the second quarter worth $2,502,000. Finally, Turner Financial Group Inc. purchased a new position in shares of SpaceX during the second quarter worth $1,228,000.

Wall Street Analyst Weigh In

Several research firms have commented on SPCX. Canaccord Genuity Group initiated coverage on shares of SpaceX in a report on Tuesday, July 7th. They issued a “buy” rating and a $246.00 price target on the stock. Guggenheim assumed coverage on SpaceX in a research note on Friday, August 7th. They set a “buy” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price objective on shares of SpaceX in a report on Wednesday, August 5th. Weiss Ratings initiated coverage on SpaceX in a research note on Tuesday, September 1st. They issued a “sell (d)” rating on the stock. Finally, Clear Str raised SpaceX to a “strong-buy” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $221.06.

Key SpaceX News

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX CFO Bret Johnsen disclosed a new AI-computing agreement worth approximately $1.11 billion per month, or more than $13 billion in annual recurring revenue, beginning December 1. The contract strengthens management’s case for reaching its $100 billion annual recurring-revenue target. SpaceX Closes $1.11 Billion-a-Month Compute Deal
• Positive Sentiment: Management expects Starship Flight 14 to generate revenue for the first time later this month, with the mission carrying production Starlink satellites. A successful revenue flight would mark progress from demonstrations toward a commercial launch business. Starship Revenue Flight 14
• Positive Sentiment: Goldman Sachs reaffirmed a Buy rating and $220 price target, citing accelerating AI, Starship and Starlink growth. William Blair also maintained a bullish view tied to multibillion-dollar SpaceX AI contracts. Goldman Sachs Reaffirms Buy Rating
• Positive Sentiment: Britain’s confirmation that it uses SpaceX’s military satellite network, alongside a reported Starshield contract and a successful Space Force launch, supports demand for the company’s government and defense services. Britain Uses SpaceX Military Network
• Neutral Sentiment: SpaceX is reportedly reconsidering the pace and structure of its AI data-center buildout. A more efficient strategy could improve returns, but slower expansion could delay projected AI revenue growth. SpaceX Data-Center Buildout Report
• Negative Sentiment: A 319-million-share lockup release has increased potential selling pressure, with additional shares reportedly scheduled to become tradable. SpaceX Lockup Release
• Negative Sentiment: Some analysts and commentators warn that SpaceX’s valuation—reported at roughly 98 times sales—leaves little room for execution errors. Isar Aerospace’s successful orbital launch also highlights rising European competition. Isar Aerospace Reaches Orbit
• Negative Sentiment: SpaceX’s lawsuit seeking to keep Texas Terafab tax-break records private may create reputational and regulatory concerns around its AI infrastructure expansion. SpaceX Terafab Records Lawsuit

SpaceX Stock Performance

SPCX stock opened at $151.21 on Monday. The firm has a market capitalization of $1.98 trillion and a price-to-earnings ratio of -1,680.11. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $134.79. SpaceX has a one year low of $104.83 and a one year high of $225.64.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. SpaceX’s quarterly revenue was up 91.9% on a year-over-year basis. Research analysts predict that SpaceX will post -0.15 earnings per share for the current fiscal year.

About SpaceX

Space Exploration Technologies Corp. (SpaceX) is a privately held aerospace company founded in 2002 by Elon Musk. The company develops and operates launch vehicles, spacecraft and satellite systems, serving commercial, government and scientific customers.

SpaceX’s principal products include the Falcon 9 and Falcon Heavy rockets, which are used to launch satellites, spacecraft and other payloads into orbit. The company also develops the Dragon spacecraft, which supports cargo and crew missions to low Earth orbit, including missions for NASA and other customers.

Through its Starlink business, SpaceX operates a large constellation of low Earth orbit satellites that provides broadband internet service to customers in numerous countries and regions.