Asset manager Blue Owl Capital (OWL) has sold about half of its stake in SpaceX at a valuation of roughly $1.25 trillion, according to co-CEO Marc Lipschultz. More specifically, he said on a call with analysts that the firm has already made about 10 times its original investment. Even so, Blue Owl is still holding the remaining half of its position, which suggests it expects further upside from here.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
This move comes as SpaceX prepares for a potential IPO later this year. The company could be valued at around $1.75 trillion and raise about $75 billion, which would make it the largest public offering ever. If that happens, founder and CEO Elon Musk could become the world’s first trillionaire. At the same time, the growing interest in space companies and satellite-based services like Starlink is attracting more institutional capital, which could continue supporting SpaceX’s valuation even after it goes public.
Because of this, early investors like Blue Owl are beginning to lock in gains while still keeping exposure to future growth. Interestingly, Blue Owl was one of SpaceX’s earliest lenders before eventually becoming an equity investor. The firm first bought shares in 2021 across different classes of stock, according to a securities filing.
Is OWL Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on OWL stock based on eight Buys, five Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average OWL price target of $13 per share implies 33% upside potential.
