Elon Musk Sells 11,390 Shares of SpaceX (NASDAQ:SPCX) Stock

SpaceX (NASDAQ:SPCX) CEO Elon Musk sold 11,390 shares of SpaceX stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $105.32, for a total transaction of $1,199,594.80. Following the transaction, the chief executive officer directly owned 526,165,900 shares in the company, valued at $55,415,792,588. This trade represents a 0.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

SpaceX Stock Down 4.9%

SPCX stock traded down $9.98 during trading on Wednesday, reaching $191.82. 200,385,929 shares of the stock were exchanged, compared to its average volume of 259,562,641. SpaceX has a 1 year low of $149.34 and a 1 year high of $225.64.

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

Key Stories Impacting SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: SpaceX’s blockbuster IPO and soaring demand have kept the stock in the spotlight, with bullish commentary centered on Elon Musk’s growth ambitions, AI expansion, and the potential for more index-fund buying. Article Title
• Positive Sentiment: SpaceX also announced a major AI push by agreeing to buy Cursor parent Anysphere in a $60 billion all-stock deal, which some investors see as evidence the company is broadening beyond rockets and Starlink. Article Title
• Neutral Sentiment: SpaceX named Sequoia veteran Roelof Botha to its board, a governance update that adds credibility but does not materially change the near-term operating outlook. Article Title
• Neutral Sentiment: New options trading and ETF launches tied to SpaceX are increasing liquidity and trading activity, but they are also adding volatility rather than providing clear fundamental support. Article Title
• Negative Sentiment: Analysts and skeptics are warning that SpaceX’s valuation has run far ahead of earnings and sales, making the stock vulnerable to a sharp pullback if momentum fades. Article Title
• Negative Sentiment: Some reports say the current rally is being driven by a tiny float, heavy speculative options activity, and lock-up concerns, which could create downside pressure as more shares eventually hit the market. Article Title

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. New Street Research raised shares of SpaceX to a “strong-buy” rating in a research note on Thursday, June 11th. Zacks Research raised shares of SpaceX to a “hold” rating in a research note on Monday. Oppenheimer set a $190.00 target price on shares of SpaceX and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Wolfe Research assumed coverage on shares of SpaceX in a research note on Friday, June 12th. They set an “outperform” rating and a $175.00 target price on the stock. Finally, KGI Securities assumed coverage on shares of SpaceX in a research note on Thursday, June 11th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SpaceX has a consensus rating of “Moderate Buy” and a consensus price target of $161.25.

SpaceX Company Profile

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.