SpaceX (NASDAQ: SPCX) recorded its first significant insider corporate transaction on September 22. President and Chief Operating Officer (COO) Gwynne Shotwell sold 342,170 shares of SPCX at an average price of $153.57. As a result of the transaction, Shotwell earned $52.5 million, while her stake in the company decreased, and she now owns just under 6.5 million shares, which is currently valued at approximately $956 million based on the latest closing price of SpaceX shares at $148.03.
Meanwhile, concerns about a potential insider sell-off of SpaceX shares seem to be unfounded. Shotwell's perspective on the current trading does not align with investors' expectations of a large-scale sell-off that has been discussed for several months. Some early investors, including notable figures like President Donald Trump, have also begun acquiring SPCX shares since the IPO. Trump purchased shares worth up to $100,000 in two transactions – on June 23 and July 10, but also sold $15,000 on July 17. Currently, SpaceX shares are trading below the initial IPO price – they opened at $150 and closed at $160.95 on the first day of trading.
In conclusion, it is worth noting that despite the significant insider share sale and relatively stable stock behavior, analysts on Wall Street remain optimistic about SpaceX's future. Upcoming events, such as the experimental flight of SpaceX Starship scheduled for September 28, may increase investor interest in the company.
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