SpaceX $SPCX Stock: Werba Rubin Papier Wealth Management Increases Position

Werba Rubin Papier Wealth Management boosted its position in shares of SpaceX (NASDAQ:SPCX) by 1,692.5% in the third quarter, Holdings Channel.com reports. The firm owned 22,532 shares of the company’s stock after acquiring an additional 21,275 shares during the period. Werba Rubin Papier Wealth Management’s holdings in SpaceX were worth $3,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPCX. SC US Ttgp LTD. acquired a new position in SpaceX in the 2nd quarter worth $20,933,621,000. Darsana Capital Partners LP purchased a new position in SpaceX in the 2nd quarter valued at about $17,335,783,000. K5 Global Advisor LLC acquired a new stake in shares of SpaceX during the second quarter valued at about $6,587,531,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of SpaceX during the third quarter valued at about $4,224,143,000. Finally, Thrive Capital Management LLC purchased a new stake in shares of SpaceX during the second quarter worth about $3,231,681,000.

Insiders Place Their Bets

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

SpaceX Stock Performance

SPCX opened at $139.94 on Friday. The business has a 50-day moving average of $149.12. The company has a market cap of $1.90 trillion and a P/E ratio of 538.23. SpaceX has a 1-year low of $104.83 and a 1-year high of $225.64. 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 (NASDAQ:SPCX) last issued its quarterly earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.10 by $0.25. SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. The business had revenue of $14.57 billion for the quarter. During the same period in the previous year, the business posted ($0.36) EPS. The business’s revenue for the quarter was up 161.4% on a year-over-year basis. As a group, sell-side analysts expect that SpaceX will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPCX has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of SpaceX in a research note on Wednesday, October 21st. Bank of America raised their price objective on SpaceX from $235.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Wolfe Research restated an “outperform” rating and set a $175.00 price objective on shares of SpaceX in a report on Wednesday, August 26th. Sanford C. Bernstein set a $267.00 target price on SpaceX in a research note on Monday, October 26th. Finally, JPMorgan Chase & Co. increased their target price on SpaceX from $240.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 21st. Four research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $243.60.

Trending Headlines about SpaceX

These are some of the SPCX headlines that stood out recently:

• Positive Sentiment: Investors are also responding to speculation that former Nvidia CEO Jensen Huang could join SpaceX after Elon Musk said hiring him “would be an honor.” A move could bolster the company’s AI ambitions, but no hiring decision has been announced. Benzinga article
• Neutral Sentiment: A planned Starship Flight 15, including an attempt to catch both rocket stages, is a high-profile test of SpaceX’s reusability plans. Success could strengthen confidence in its long-term ambitions, while the outcome remains uncertain. Barchart article
• Negative Sentiment: The data-center plans require enormous spending and face local approval and infrastructure questions. Analysts have also cautioned that SpaceX will need to work with Texas officials after recent election results to advance its projects, leaving timing and execution risks. Benzinga article

About SpaceX

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.