AMI Asset Management Corp decreased its stake in shares of SpaceX (NASDAQ:SPCX - Free Report) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,518 shares of the company's stock after selling 11,917 shares during the period. AMI Asset Management Corp's holdings in SpaceX were worth $12,298,000 at the end of the most recent reporting period.

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A number of other institutional investors also recently made changes to their positions in the stock. Revisor Wealth Management LLC purchased a new stake in shares of SpaceX in the third quarter valued at $327,000. DUTCH ASSET Corp acquired a new stake in shares of SpaceX during the third quarter valued at $3,862,000. Canal Insurance CO purchased a new stake in SpaceX during the 3rd quarter worth about $3,017,000. 55 North Private Wealth LLC purchased a new stake in SpaceX during the 3rd quarter worth about $770,000. Finally, Hyperion Asset Management Ltd raised its stake in SpaceX by 52.8% in the 3rd quarter. Hyperion Asset Management Ltd now owns 1,798,919 shares of the company's stock valued at $271,385,000 after purchasing an additional 621,716 shares during the last quarter.

Insider Activity

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

Wall Street Analysts Forecast Growth

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A number of research analysts have issued reports on SPCX shares. Wedbush started coverage on shares of SpaceX in a report on Tuesday, June 30th. They issued an "outperform" rating and a $190.00 target price on the stock. Erste Group Bank assumed coverage on shares of SpaceX in a research note on Thursday, October 8th. They set a "hold" rating on the stock. Barclays began coverage on shares of SpaceX in a report on Friday, October 9th. They set an "overweight" rating and a $254.00 price target for the company. Oppenheimer boosted their price objective on shares of SpaceX from $250.00 to $280.00 and gave the company an "outperform" rating in a research report on Wednesday, September 2nd. Finally, HSBC started coverage on shares of SpaceX in a research note on Thursday, July 23rd. They set a "hold" rating and a $115.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $221.44.

Read Our Latest Stock Analysis on SpaceX

SpaceX Price Performance

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Shares of NASDAQ:SPCX opened at $147.79 on Wednesday. The stock has a 50-day simple moving average of $148.92. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. SpaceX has a 12-month low of $104.83 and a 12-month high of $225.64.

SpaceX (NASDAQ:SPCX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.25. The company had revenue of $14.57 billion for the quarter. SpaceX's revenue was up 161.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.36) earnings per share. Analysts expect that SpaceX will post 0.07 earnings per share for the current fiscal year.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Q3 results beat expectations. SpaceX reported $14.58 billion in revenue, up 161% year over year, and earnings of $0.35 per share versus the $0.10 consensus estimate. The company swung from a $0.36 loss per share a year earlier to approximately $4.4 billion in net income. SpaceX quarterly revenue jumps, beats estimates as AI business surges
• Positive Sentiment: AI has become the primary growth engine. Super Intelligence revenue reached $7.56 billion, compared with $813 million a year earlier, and represented more than half of company income. Big-tech demand for SpaceX’s data-center and computing capacity is reinforcing the broader AI investment theme. SpaceX's AI business is beating expectations
• Positive Sentiment: Management signaled substantial additional capacity growth. CEO Elon Musk said SpaceX expects to add at least 10 gigawatts of AI compute capacity in 2027. Starlink also continued to expand, reaching 13.6 million consumer subscribers, while connectivity revenue rose 69% to $5.25 billion. CEO Elon Musk Just Gave SpaceX Investors Great News
• Positive Sentiment: A possible Tesla combination gained credibility. SpaceX and Tesla each formed independent special committees to review a potential merger. No transaction is certain, but the development may support expectations for broader AI, robotics and infrastructure synergies. SpaceX and Tesla boards form special committees to review merger
• Neutral Sentiment: SpaceX and Tesla’s proposed “Terafab” is targeting volume chip production in 2028, potentially supporting long-term AI infrastructure ambitions but adding execution risk. SpaceX and Tesla's Terafab targets 2028
• Negative Sentiment: Capital requirements remain the key concern. SpaceX spent about $19.6 billion on capital expenditures during the quarter, including $16.4 billion for AI infrastructure. Investors must determine whether future computing revenue can justify the spending and potential financing needs.
• Negative Sentiment: Starlink subscriber growth was below expectations, and more than one billion shares may become eligible for sale following the lockup expiration, creating a potential source of supply and volatility. A massive SpaceX stock lockup expiration is coming

SpaceX Company Profile

(Free Report)

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.

Further Reading

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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