Third View Private Wealth increased its SpaceX stake in the third quarter

Third View Private Wealth increases its SpaceX stake

MarketBeat reports that Third View Private Wealth LLC increased its SpaceX position by 106.9% during the third quarter, according to its latest Form 13F filing with the SEC. The firm added 13,829 shares and ended the period with 26,760 shares. MarketBeat says the holding was valued at $4,037,000 in the filing.

Other investors also reported new positions

The article says several other large investors made changes to their SpaceX holdings. Syntax Research Inc. bought a new stake in the second quarter valued at about $26,000. Atwood & Palmer Inc. opened a position in the second quarter worth about $29,000. PayPay Securities Corp purchased a new position in the second quarter worth about $30,000. Marquette Asset Management LLC also bought a new position in the second quarter worth about $32,000. Hickory Point Bank & Trust acquired a new position in the third quarter valued at about $30,000.

Stock price and financial results

MarketBeat reports that SpaceX shares opened Wednesday at $141.31 and were up 3.6%. The stock’s market capitalization was listed at $1.92 trillion, with a price-to-earnings ratio of 543.50. The article says the shares have traded between $104.83 and $225.64 over the past 12 months. It also lists a debt-to-equity ratio of 0.20, a quick ratio of 3.00, a current ratio of 3.08, and a 50-day moving average of $149.68.

The company’s most recent quarterly report, released Tuesday, October 20, showed earnings per share of $0.35, beating the consensus estimate of $0.10 by $0.25. Revenue came in at $14.57 billion. MarketBeat says quarterly revenue increased 161.4% from a year earlier. In the same quarter last year, the company reported a loss of $0.36 per share. The article also says SpaceX had a negative net margin of 8.61% and a negative return on equity of 3.24%. Analysts surveyed by MarketBeat expect the company to post $0.19 in EPS for the current fiscal year.

Analyst views and recent reporting themes

MarketBeat says several research firms have recently issued or updated opinions on SpaceX. William Blair repeated an outperform rating on October 9. Bank of America raised its price target from $235 to $275 and kept a buy rating on October 22. Yorkville Ives began coverage on October 6 with an outperform rating and a $225 target. Raymond James Financial reaffirmed a strong-buy rating on October 14. Piper Sandler repeated a neutral rating on October 21.

According to MarketBeat, four analysts rate the stock Strong Buy, 30 rate it Buy, nine rate it Hold, and three rate it Sell. The consensus rating is Moderate Buy, and the average price target is $244.97.

The article also points to several recent news themes around the company. It says SpaceX reported strong third-quarter results, with revenue up 161% year over year to $14.58 billion and earnings above estimates. It says the company’s AI-related Super Intelligence business expanded quickly and Starlink added 1.6 million subscribers. Another report discussed talks to buy Boost Mobile or use its network, which could give SpaceX a wireless foothold, though the outcome is uncertain. The article also says SpaceX objected to a proposed OKXICE listing of third-party tokenized shares, and that reports on the company’s AI buildout raised questions about costs because of a fourth-quarter capital-spending forecast of $35 billion to $40 billion. A separate report said the Boost Mobile strategy is not guaranteed because of dependence on carrier network leases, and that a possible Anthropic IPO could divert investor attention and capital.

Insider sale disclosed by the company

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 sale totaled $52,547,046.90. After the transaction, Shotwell directly owned 2,472,035 shares, valued at $379,630,414.95, which the article says was a 12.16% reduction in the position. The sale was disclosed in an SEC filing and was carried out under a pre-arranged Rule 10b5-1 trading plan.

Company background included in the report

The article describes SpaceX, or Space Exploration Technologies Corp., as a privately held aerospace company founded by Elon Musk in 2002. MarketBeat says the company develops launch vehicles and spacecraft intended to lower the cost of access to space and support commercial, government, and scientific missions. It lists Falcon 9, Falcon Heavy, Dragon, and Starlink among the company’s principal products and services, and says the Falcon rockets are used to launch satellites, cargo, and crew, while Dragon supports transportation to and from low Earth orbit.