26,454 Shares in Rocket Lab Corporation $RKLB Purchased by Tempo Wealth LLC

Key Points

• Tempo Wealth LLC disclosed a new fourth-quarter stake in Rocket Lab, buying 26,454 shares valued at about $1.85 million.
• Rocket Lab continues to attract major institutional interest, with firms like Vanguard, Baillie Gifford, and Capital World Investors all increasing holdings; 71.78% of the stock is now owned by institutions.
• The company recently reported 63.4% revenue growth year over year to $200.35 million, and it is set to join the Nasdaq-100 on June 22, a move that could boost demand from index funds.

Tempo Wealth LLC acquired a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 26,454 shares of the rocket manufacturer's stock, valued at approximately $1,845,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock worth $3,308,033,000 after buying an additional 5,610,469 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Rocket Lab by 47.2% during the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer's stock valued at $1,245,317,000 after buying an additional 5,725,536 shares during the last quarter. Capital World Investors increased its position in shares of Rocket Lab by 12.0% during the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer's stock valued at $1,130,172,000 after acquiring an additional 1,738,623 shares in the last quarter. State Street Corp increased its position in shares of Rocket Lab by 1.0% during the fourth quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer's stock valued at $873,411,000 after acquiring an additional 120,652 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Rocket Lab by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer's stock worth $626,605,000 after acquiring an additional 825,158 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Trading Down 0.7%

Shares of RKLB stock opened at $107.24 on Friday. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12-month low of $27.84 and a 12-month high of $151.00. The stock has a market capitalization of $62.07 billion, a P/E ratio of -335.12 and a beta of 2.49. The firm's 50 day moving average is $104.82 and its 200 day moving average is $83.14.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). The business had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The company's quarterly revenue was up 63.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. Research analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RKLB. New Street Research assumed coverage on Rocket Lab in a research report on Wednesday, May 13th. They issued a "buy" rating and a $150.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Rocket Lab in a report on Wednesday, May 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft upped their price target on Rocket Lab from $73.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Finally, Citizens Jmp boosted their target price on Rocket Lab from $85.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Rocket Lab has a consensus rating of "Moderate Buy" and a consensus price target of $102.76.

Insider Transactions at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 44,390 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $6,328,682.30. Following the transaction, the insider directly owned 1,043,847 shares of the company's stock, valued at approximately $148,821,266.79. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Alexander R. Slusky sold 100,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total value of $11,808,000.00. Following the sale, the director owned 434,675 shares of the company's stock, valued at approximately $51,326,424. This represents a 18.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 573,515 shares of company stock worth $76,412,122 in the last ninety days. Insiders own 8.40% of the company's stock.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: Rocket Lab is being added to the Nasdaq-100 effective June 22, which could drive buying from index funds and ETFs that track the benchmark. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
• Positive Sentiment: The company recently passed a key Space Development Agency review, reinforcing confidence in its defense and space business momentum. Rocket Lab (RKLB) Passes Key SDA Review As Nasdaq 100 Inclusion Reshapes Its Story
• Positive Sentiment: Rocket Lab also continues to benefit from strong fundamentals, including record first-quarter revenue of about $200 million and a $2.2 billion backlog, which support the long-term growth story. Rocket Lab (RKLB) Stock Falls 30% Despite Record Q1 Results and Nasdaq-100 Entry

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company's primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company's propulsion capabilities.

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