Titleist Asset Management LLC Buys New Position in SpaceX $SPCX

Titleist Asset Management LLC bought a new stake in shares of SpaceX (NASDAQ:SPCX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 120,959 shares of the company’s stock, valued at approximately $18,248,000. SpaceX comprises approximately 1.2% of Titleist Asset Management LLC’s holdings, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also modified their holdings of SPCX. Apella Capital LLC grew its position in shares of SpaceX by 218.2% during the 3rd quarter. Apella Capital LLC now owns 8,424 shares of the company’s stock valued at $1,412,000 after acquiring an additional 5,777 shares during the period. Everhart Financial Group Inc. bought a new position in SpaceX in the 3rd quarter worth $527,000. Gradient Investments LLC purchased a new position in SpaceX during the third quarter valued at $9,545,000. Avidian Wealth Enterprises LLC lifted its position in SpaceX by 587.0% during the third quarter. Avidian Wealth Enterprises LLC now owns 54,170 shares of the company’s stock valued at $8,172,000 after purchasing an additional 46,285 shares in the last quarter. Finally, Ebert Capital Management Inc. grew its holdings in SpaceX by 21.6% during the third quarter. Ebert Capital Management Inc. now owns 4,600 shares of the company’s stock valued at $694,000 after purchasing an additional 816 shares during the period.

SpaceX News Summary

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: The FCC approved SpaceX’s plan to deploy 15,000 additional Starlink satellites for direct-to-device services and waived a requirement to lease capacity from ground-based carriers. The approval expands Starlink’s potential mobile-connectivity market and could strengthen SpaceX’s competitive position. SpaceX gets FCC approval for 15,000 Starlink satellites
• Positive Sentiment: Analyst support remains a bullish counterweight. Morgan Stanley reiterated a Buy rating with a $300 price target, while Goldman Sachs raised its outlook and Susquehanna lifted its target to $173, citing growth across launch, Starlink and AI. Morgan Stanley maintains SpaceX Buy rating
• Positive Sentiment: Financial Times commentator John Foley said SpaceX’s AI-compute operation appears to have real customer demand. Renting data-center capacity could ultimately provide substantial recurring revenue if the company can execute its expansion. SpaceX AI data-center revenue analysis
• Positive Sentiment: New FAA and Department of Transportation initiatives to streamline launch approvals could support higher launch frequency, benefiting SpaceX as the industry’s leading launch provider. FAA launch licensing proposals
• Neutral Sentiment: Erste Group initiated coverage with a Hold rating, reflecting the tension between SpaceX’s rapid AI and Starlink growth prospects and its demanding valuation and execution risks.
• Negative Sentiment: Up to 328.4 million shares are scheduled to become eligible for sale on October 9. The potential increase in tradable supply is encouraging investors to reduce exposure or wait for possible selling pressure. SpaceX October 9 share unlock
• Negative Sentiment: SpaceX is reportedly seeking approximately $40 billion—about $10 billion in loans and $30 billion in bonds—to purchase Nvidia AI chips. Investors are concerned that leverage could rise sharply despite the company reportedly holding roughly $100 billion in cash and marketable securities. Apollo and banks discuss financing SpaceX GPU purchase
• Negative Sentiment: The proposed AI buildout could require as much as $500 billion in total investment, increasing concerns about capital intensity, chip obsolescence, debt-service demands and execution risk.
• Negative Sentiment: Starlink’s India launch remains stalled amid a dispute involving local telecom operators and regulators, delaying access to a major potential growth market. Starlink India launch dispute

Insider Activity at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the 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 owned 2,472,035 shares of the company’s stock, valued at approximately $379,630,414.95. This trade represents a 12.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Zacks Research raised SpaceX to a “hold” rating in a research note on Monday, June 15th. DZ Bank started coverage on shares of SpaceX in a research note on Friday, August 21st. They set a “sell” rating and a $100.00 target price on the stock. Susquehanna increased their price objective on shares of SpaceX from $144.00 to $173.00 and gave the stock a “neutral” rating in a research note on Wednesday. Seaport Research Partners cut shares of SpaceX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Finally, Citigroup downgraded shares of SpaceX from a “buy” rating to a “sell” rating in a report on Friday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, SpaceX presently has a consensus rating of “Moderate Buy” and an average target price of $218.76.

SpaceX Stock Down 3.5%

NASDAQ SPCX traded down $5.94 on Thursday, reaching $161.66. The company had a trading volume of 43,614,183 shares, compared to its average volume of 102,157,078. The stock has a market cap of $2.13 trillion and a PE ratio of -1,796.11. SpaceX has a 12 month low of $104.83 and a 12 month high of $225.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.12 and a quick ratio of 4.99. The stock’s 50 day moving average is $142.98.

SpaceX (NASDAQ:SPCX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.17. The firm had revenue of $7.81 billion for the quarter. The firm’s revenue for the quarter was up 91.9% on a year-over-year basis. On average, research analysts expect that SpaceX will post 0.09 EPS for the current year.

SpaceX Company Profile

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 designed to reduce the cost of access to space and support commercial, government and scientific missions.

SpaceX’s primary products and services include the Falcon 9 and Falcon Heavy launch vehicles, the Dragon spacecraft and the Starlink satellite internet network. The company also is developing Starship, a fully reusable launch and spacecraft system intended for missions to Earth orbit, the Moon and Mars.