43,495 SpaceX $SPCX Shares Acquired by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC increased its position in shares of SpaceX (NASDAQ:SPCX) by 286.1% during the third quarter, Holdings Channel reports. The fund owned 58,699 shares of the company’s stock after acquiring an additional 43,495 shares during the quarter. SpaceX makes up approximately 1.0% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Canvas Wealth Advisors LLC’s holdings in SpaceX were worth $8,446,000 at the end of the most recent reporting period.

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

SpaceX Trading Up 8.6%

NASDAQ SPCX traded up $10.65 during trading hours on Friday, reaching $134.27. The company’s stock had a trading volume of 114,740,906 shares, compared to its average volume of 102,187,288. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. The company has a 50-day moving average of $149.18. SpaceX has a 52 week low of $104.83 and a 52 week high of $225.64. The company has a market cap of $1.82 trillion and a PE ratio of 516.42.

SpaceX (NASDAQ:SPCX) last posted its earnings results on Tuesday, October 20th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.10 by $0.25. The company had revenue of $14.57 billion during the quarter. SpaceX had a negative return on equity of 3.24% and a negative net margin of 8.61%. The firm’s revenue for the quarter was up 161.4% compared to the same quarter last year. During the same period last year, the company posted ($0.36) earnings per share. As a group, equities analysts predict that SpaceX will post 0.19 EPS for the current year.

Analysts Set New Price Targets

SPCX has been the topic of several recent analyst reports. Moffett Nathanson increased their target price on SpaceX from $131.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. KeyCorp restated a “sector weight” rating on shares of SpaceX in a report on Wednesday, October 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $245.00 target price on shares of SpaceX in a report on Wednesday, October 21st. Evercore reiterated an “outperform” rating and issued a $275.00 target price on shares of SpaceX in a research note on Friday, October 16th. Finally, Bank of America boosted their price target on SpaceX from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $243.60.

Insider Transactions at SpaceX

In related news, COO Gwynne Shotwell sold 342,170 shares of the business’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 completion of the transaction, the chief operating officer owned 2,472,035 shares in the company, valued at $379,630,414.95. The trade was a 12.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Trending Headlines about SpaceX

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Musk said SpaceX could exceed $500 billion in annual recurring revenue by December 2027, a forecast well above Wall Street expectations. He also pointed to U.S. government contracts as a growing revenue source, helping lift growth sentiment. Article: Musk Says SpaceX Will Hit a Revenue Number That Not One of Its 37 Analysts Believes
• Positive Sentiment: SpaceX’s partnership with Qualcomm to support Starlink Mobile’s planned 5G network offers a potential new telecom growth avenue, with deployment expected to begin in 2027. Article: Can SPCX’s Tie-Up With Qualcomm Strengthen Its Position in the 5G Market?
• Neutral Sentiment: Director Donald Harrison resigned from SpaceX’s board effective November 4. The announcement did not provide a reason, so the immediate business impact is unclear. Article: SpaceX Director Donald Harrison Resigns from Board
• Negative Sentiment: Democratic gains in Congress and Texas raised concerns about scrutiny, permitting and data-center expansion—important to SpaceX’s AI ambitions—and helped drive the recent selloff. Friday’s rebound recouped some of those losses, but the policy uncertainty remains. Article: Why SpaceX Stock Is Up Today
• Negative Sentiment: SpaceX’s wireless ambitions may require substantial spending and face tough competition. Deutsche Telekom’s CEO said building a rival mobile network would require a costly terrestrial footprint, highlighting execution and financing risks alongside the growth opportunity. Article: Deutsche Telekom CEO Says SpaceX Has a Massive Mountain to Climb to Compete in Mobile

SpaceX Profile

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.