SpaceX $SPCX Shares Purchased by Convergence Financial LLC

Convergence Financial LLC lifted its stake in SpaceX (NASDAQ:SPCX) by 13.3% during the third quarter, HoldingsChannel reports. The firm owned 30,285 shares of the company’s stock after purchasing an additional 3,545 shares during the period. Convergence Financial LLC’s holdings in SpaceX were worth $4,569,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SPCX. SC US Ttgp LTD. purchased a new stake in SpaceX in the 2nd quarter valued at about $20,933,621,000. Darsana Capital Partners LP bought a new position in SpaceX in the 2nd quarter worth about $17,335,783,000. K5 Global Advisor LLC bought a new position in SpaceX in the 2nd quarter worth about $6,587,531,000. State Street Corp purchased a new position in shares of SpaceX during the second quarter worth approximately $1,858,329,000. Finally, Dragoneer Investment Group LLC purchased a new position in shares of SpaceX during the second quarter worth approximately $1,366,880,000.

Insider Transactions at SpaceX

In other SpaceX news, COO Gwynne Shotwell sold 342,170 shares of the business’s 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 completion of the transaction, the chief operating officer directly owned 2,472,035 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several research analysts have commented on SPCX shares. Canaccord Genuity Group assumed coverage on SpaceX in a report on Tuesday, July 7th. They set a “buy” rating and a $246.00 price objective on the stock. Weiss Ratings started coverage on SpaceX in a report on Tuesday, September 1st. They issued a “sell (d)” rating for the company. Barclays upped their target price on SpaceX from $254.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 21st. Stifel Nicolaus started coverage on SpaceX in a research report on Tuesday, July 7th. They set a “buy” rating and a $190.00 price target on the stock. Finally, Daiwa Securities Group began coverage on SpaceX in a research note on Thursday, July 2nd. They set a “neutral” rating and a $175.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.97.

SpaceX Trading Down 2.3%

Shares of NASDAQ:SPCX opened at $145.23 on Thursday. The stock has a market cap of $1.91 trillion and a P/E ratio of 558.58. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.08 and a quick ratio of 3.00. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64. The firm has a fifty day moving average of $149.46.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data 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 return on equity of 3.24% and a negative net margin of 8.61%. The firm had revenue of $14.57 billion during the quarter. During the same quarter last year, the company earned ($0.36) earnings per share. The company’s revenue for the quarter was up 161.4% compared to the same quarter last year. Research analysts predict that SpaceX will post 0.13 EPS for the current year.

Key Headlines Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: AI business is becoming SpaceX’s main growth driver. Elon Musk said the company’s “Super Intelligence” division is now larger than its other segments, generating approximately $7.56 billion of third-quarter revenue. Analysts and bullish commentary suggest rapid AI-infrastructure growth could support substantially higher revenue and share prices over the next several years. Elon Musk Says SpaceX Is Now a Super Intelligence Company
• Positive Sentiment: Quarterly results and Starlink momentum remain strong. SpaceX reported third-quarter revenue of $14.58 billion, up 161% year over year, while Starlink added 1.6 million customers and increased average revenue per user. These results reinforce the company’s operating-growth story. SpaceX’s Starlink Just Added 1.6 Million Customers
• Positive Sentiment: Analyst support is providing an upside counterweight. Bernstein raised its price target to $268 from $248 and maintained an Outperform rating, citing AI infrastructure and potential orbital data centers. Bank of America also added SpaceX to its list of favored U.S. stocks. SpaceX Stock Rises as Analysts See More Upside
• Neutral Sentiment: Potential wireless expansion and a Tesla merger remain speculative. Musk says SpaceX could build a wireless carrier within two to three years, while Tesla and SpaceX committees are examining a possible merger. Neither development has been finalized, and both could require significant capital or create governance concerns. Elon Musk Says He Can Build a Wireless Carrier
• Negative Sentiment: Investors are concerned about the cost of the AI build-out. SpaceX committed to roughly $40 billion in GPU financing, while a large majority of its reported capital expenditures is directed toward AI. Critics argue that the business has not yet fully paid for this expansion and could face substantial debt and customer-concentration risks, particularly involving Anthropic. SpaceX’s AI Boom Has Yet to Pay for Its Build-Out
• Negative Sentiment: Valuation and IPO volatility are limiting enthusiasm. With a market capitalization near $1.9 trillion and a very high earnings multiple, analysts warn that strong results may already be reflected in the stock. Research on IPOs also highlights the risk of sharp declines during the first year of public trading. A six-week pause in Florida launches and a proposed $3.42 billion share shelf registration add further uncertainty.

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.