Gerber Kawasaki sharply increases SpaceX stake, filing shows

Gerber Kawasaki expands its SpaceX holding

MarketBeat reports that Gerber Kawasaki Wealth & Investment Management increased its position in SpaceX by 3,085.4% in the third quarter, according to the firm's latest filing with the Securities and Exchange Commission. The filing says the investor bought 48,687 additional shares and ended the period with 50,265 shares. MarketBeat says the holding was worth about $7,583,000 in the most recent filing.

Other hedge funds reported large positions

The article says several other hedge funds also made changes to SpaceX positions. MarketBeat lists SC US Ttgp LTD. as having bought a new position in the second quarter valued at $20,933,621,000. It says Darsana Capital Partners LP bought a new stake in the second quarter worth about $17,335,783,000, K5 Global Advisor LLC opened a new position during the second quarter worth about $6,587,531,000, Mirae Asset Global Investments Co. Ltd. bought a new position in the third quarter worth about $4,224,143,000, and Thrive Capital Management LLC bought a new position in the second quarter worth about $3,231,681,000.

Trading, valuation and quarterly results

MarketBeat says SpaceX stock opened Tuesday at $136.37 and was up 1.2%. The article notes a 50-day moving average of $149.55, a debt-to-equity ratio of 0.20, a quick ratio of 3.00 and a current ratio of 3.08. It also says the stock's 52-week range runs from $104.83 to $225.64, with a market capitalization of $1.80 trillion and a price-to-earnings ratio of 524.50.

The company last reported earnings on Tuesday, October 20. MarketBeat says SpaceX posted quarterly earnings of $0.35 per share, beating the consensus estimate of $0.10 by $0.25. Revenue came in at $14.57 billion, and the company reported a negative net margin of 8.61% and a negative return on equity of 3.24%. The article says revenue increased 161.4% from a year earlier, when the company posted a loss of $0.36 per share. It adds that analysts, as a group, expect SpaceX to post earnings of $0.19 per share for the current fiscal year.

Analyst views and reported catalysts

MarketBeat says several firms recently issued views on SPCX. Susquehanna raised its target from $173.00 to $176.00 and kept a neutral rating. Deutsche Bank reiterated a buy rating and set a $235.00 target. Stifel Nicolaus began coverage with a buy rating and a $190.00 target. Clear Str upgraded the stock to strong-buy, and Arete Research set a $450.00 target. MarketBeat says the stock has four Strong Buy ratings, thirty Buy ratings, nine Hold ratings and three Sell ratings. Using its own data, the outlet says the average rating is Moderate Buy and the consensus target price is $244.97.

The article also highlights a Reuters report, saying Boost Mobile talks are seen as the main catalyst. According to that report as summarized by MarketBeat, SpaceX is discussing either buying Boost Mobile or using its network, which could give it customers, billing infrastructure and retail distribution and support Starlink's wireless plans. MarketBeat also points to reports of strong operating momentum, including $7.6 billion in third-quarter super-intelligence revenue, 13.6 million Starlink subscribers and a 5% sequential rise in consumer average revenue per user, while noting a target to expand AI-computing capacity through 2027. The article further says investors view the wireless strategy as a possible path to a fourth major U.S. mobile operator and an additional revenue source beyond rockets and satellite broadband.

Insider sale and company background

MarketBeat reports that SpaceX chief operating officer Gwynne Shotwell sold 342,170 shares on Tuesday, September 22, at an average price of $153.57. The transaction totaled $52,547,046.90, and after the sale she held 2,472,035 shares valued at about $379,630,414.95. The article says that was a 12.16% reduction in her stake and that the sale was disclosed in an SEC filing under a pre-arranged Rule 10b5-1 trading plan.

The company profile in the article describes SpaceX as a privately held aerospace company founded in 2002 by Elon Musk. It says the company develops launch vehicles and spacecraft intended to lower the cost of reaching space and to support commercial, government and scientific missions. The profile lists Falcon 9, Falcon Heavy, Dragon and Starlink as its main products and services, and says Falcon rockets launch satellites, cargo and crew while Dragon supports transport to and from low Earth orbit.