SpaceX (NASDAQ:SPCX) COO Gwynne Shotwell Sells 342,170 Shares of Stock

SpaceX (NASDAQ:SPCX) COO Gwynne Shotwell sold 342,170 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $153.57, for a total transaction 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 $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 Down 0.2%

NASDAQ SPCX opened at $148.03 on Friday. The stock has a market cap of $1.94 trillion and a price-to-earnings ratio of -1,644.78. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.99 and a current ratio of 5.12. The business’s fifty day moving average is $135.91.

SpaceX (NASDAQ:SPCX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The company had revenue of $7.81 billion during the quarter. The company’s quarterly revenue was up 91.9% compared to the same quarter last year. Research analysts expect that SpaceX will post -0.15 EPS for the current year.

Analysts Set New Price Targets

SPCX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $235.00 price target (down from $255.00) on shares of SpaceX in a research report on Wednesday, September 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $300.00 target price on shares of SpaceX in a research note on Wednesday, August 26th. William Blair reissued an “outperform” rating on shares of SpaceX in a research report on Friday, September 11th. DZ Bank assumed coverage on SpaceX in a research report on Friday, August 21st. They set a “sell” rating and a $100.00 target price on the stock. Finally, Roth Capital upgraded shares of SpaceX to a “buy” rating in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $218.28.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: NASA awarded SpaceX an additional $946 million to extend Crew Dragon missions through 2030, bringing the program’s total commitments to nearly $6 billion. The contract reinforces SpaceX’s government-backed revenue base. NASA award article
• Positive Sentiment: SpaceX’s Nasdaq-100 weighting is expected to double, potentially increasing demand from index-tracking funds. Analysts also point to reusable rockets, Starlink, AI-compute capacity, satellite manufacturing and a possible Tesla-SpaceX combination as longer-term catalysts. Nasdaq-100 weighting article
• Positive Sentiment: The next NASA astronaut mission is scheduled for October 1, while Starship’s upcoming flight is viewed as an important test of SpaceX’s ability to transition from Falcon 9 to its larger reusable-rocket platform. NASA astronaut launch article
• Neutral Sentiment: Elon Musk said SpaceX’s AI model could approach the capabilities of leading models from OpenAI and Anthropic within months. The claim supports the AI opportunity but remains forward-looking and unverified. SpaceX AI article
• Negative Sentiment: Approximately 319 million to 328.4 million locked-up shares became eligible for trading, creating a substantial potential supply overhang. Investors are concerned that early holders may sell into the market after the IPO. Share unlock article
• Negative Sentiment: COO Gwynne Shotwell sold 342,170 shares worth approximately $52.5 million. Although the transaction was made under a pre-arranged Rule 10b5-1 plan, the sale added to investor concerns about insider supply. SEC insider transaction filing
• Negative Sentiment: SpaceX continues to trade at a very demanding valuation while reporting losses, increasing sensitivity to execution risk. Delays or setbacks in Starship, heavy AI spending, the Falcon 9 transition and competition from other satellite providers could pressure the shares further.

Hedge Funds Weigh In On SpaceX

Several institutional investors have recently made changes to their positions in SPCX. QRG Capital Management Inc. acquired a new position in shares of SpaceX during the second quarter valued at approximately $8,632,000. Envestnet Portfolio Solutions Inc. acquired a new position in SpaceX in the 2nd quarter worth approximately $1,274,000. State Street Corp acquired a new position in shares of SpaceX in the 2nd quarter valued at about $1,858,329,000. Security National Bank of SO Dak purchased a new position in shares of SpaceX during the 2nd quarter valued at $48,000. Finally, HBK Investments L P purchased a new position in SpaceX in the second quarter valued at about $40,579,000.

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.