Summit Financial Strategies 13F: New $351K Stake in SPCX

Summit Financial Strategies opened a new position in Space Exploration Technologies Corp. (NasdaqGS: SPCX), purchasing 2,327 shares valued at $351,061. The details come from a Form 13F filing submitted to the Securities and Exchange Commission on October 14, 2026. Because 13F filings look backward at holdings from the end of the reporting quarter, this report reflects the firm's position at that time and may not represent its current holdings today.

What Changed in Summit Financial Strategies's SpaceX Position

Summit Financial Strategies initiated its stake in Space Exploration Technologies Corp. during the period, picking up 2,327 shares. The brand-new holding was valued at $351,061 as of the filing date. This move follows other portfolio adjustments by the firm, including completely exiting its stakes in the iShares California Muni Bond ETF and Sprott Physical Gold Trust.

Other Institutional Activity in Space Exploration Technologies Corp.

Other major institutional investors also adjusted their positions in Space Exploration Technologies Corp. Alphabet Inc. grew its holdings by 275,594,750 shares, ending with 551,189,500 shares worth about $80,490,202,012. Valor Management LLC grew its holdings by 251,707,265 shares, ending with 503,414,530 shares worth about $73,513,623,201. FMR, LLC grew its holdings by 151,277,916 shares, ending with 302,555,831 shares worth about $44,182,227,631. Vy Capital Management Co. Ltd. grew its holdings by 135,905,750 shares, ending with 271,811,500 shares worth about $39,692,633,013. Gigafund Management Company, LLC grew its holdings by 85,913,372 shares, ending with 171,826,745 shares worth about $25,091,859,362.

Space Exploration Technologies Corp. Stock Down 5.4%

Space Exploration Technologies Corp. shares recently traded around $143.93 as of October 16, 2026. The stock sits below its 50-day moving average of $146.72 and its 200-day moving average of $145.58. Over the past year, the stock has traded as low as $104.83 and as high as $225.64.

Recent Earnings

Space Exploration Technologies Corp. reported trailing twelve-month revenue of $23,043,999,744 alongside a trailing twelve-month basic earnings per share of -$1.10. The company posted a year-over-year revenue growth rate of 91.9% and a net profit margin of -35.7%. The company is not currently profitable, meaning it has no meaningful P/E ratio. Its next quarterly earnings report is scheduled for November 3, 2026.

Insider Buying and Selling at Space Exploration Technologies Corp.

Company insiders have also transacted in shares recently. Chief Executive Officer Elon Reeve Musk sold 11,390 shares on April 2, 2026, at an average price of $105.32 for a total value of $1,199,572. President Gwynne E Shotwell sold 342,170 shares on September 22, 2026, for a total value of $52,546,493.

Analysts Set New Price Targets

Wall Street firms have updated their outlooks on the aerospace company ahead of its upcoming reports. On September 29, 2026, TD Cowen initiated the stock with a Buy rating and a $200.00 price target. On September 30, 2026, Macquarie maintained its Outperform rating and a $250.00 price target. On October 7, 2026, Susquehanna maintained its Neutral rating and raised its price target from $144.00 to $173.00. On October 9, 2026, Barclays initiated the stock with an Overweight rating and a $254.00 price target. On October 9, 2026, TD Cowen reiterated its Buy rating and a $200.00 price target. Overall, the stock carries a consensus buy rating with a mean price target of $221.26 across 31 analyst opinions.

About Space Exploration Technologies Corp.

Space Exploration Technologies Corp. operates in the aerospace and defense sector, providing satellite-based broadband services and launching reusable rockets. It organizes its business into space, connectivity, and artificial intelligence segments, serving customers across the United States, Canada, Ireland, and international markets. The firm employs roughly 21,000 people and is headquartered in Starbase, Texas.

Bottom Line

Summit Financial Strategies's new position gives the firm exposure to the commercial space and broadband provider. Investors will look toward the company's earnings release on November 3, 2026, for further financial updates. Keep in mind that 13F filings are historical snapshots and may not reflect the firm's current holdings today.