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AE Wealth Management LLC Buys 11,927 Shares of Rocket Lab Corporation $RKLB

Rocket Lab logo with Aerospace background
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Key Points

  • AE Wealth Management boosted its Rocket Lab stake by 152.9%, adding 11,927 shares to hold 19,726 shares worth about $945,000, part of broader institutional accumulation (e.g., Baillie Gifford's large increase) that leaves 71.78% of the stock owned by institutions.
  • Significant insider selling has occurred recently—4,306,150 shares sold (~$271.9M) over the last 90 days—contrasting with generally positive analyst views (consensus "Moderate Buy", target ~$72.92) as the stock trades up roughly 9.6% to about $81.27.
  • MarketBeat previews top five stocks to own in May.

AE Wealth Management LLC increased its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 152.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,726 shares of the rocket manufacturer's stock after acquiring an additional 11,927 shares during the quarter. AE Wealth Management LLC's holdings in Rocket Lab were worth $945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Baillie Gifford & Co. boosted its stake in shares of Rocket Lab by 176.1% during the third quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer's stock valued at $580,952,000 after purchasing an additional 7,734,788 shares during the period. Invesco Ltd. increased its stake in shares of Rocket Lab by 67.0% in the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer's stock worth $223,287,000 after buying an additional 2,504,054 shares during the period. Norges Bank bought a new stake in Rocket Lab during the 2nd quarter valued at $164,751,000. American Century Companies Inc. boosted its position in Rocket Lab by 6.2% during the 2nd quarter. American Century Companies Inc. now owns 2,251,130 shares of the rocket manufacturer's stock valued at $80,523,000 after buying an additional 131,996 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Rocket Lab by 22.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,112,255 shares of the rocket manufacturer's stock worth $75,555,000 after acquiring an additional 387,536 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Rocket Lab

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Robert W. Baird raised shares of Rocket Lab to a "strong-buy" rating in a research note on Thursday, October 16th. Citigroup reaffirmed a "market perform" rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Roth Mkm reiterated a "buy" rating and issued a $75.00 price objective on shares of Rocket Lab in a research report on Tuesday, November 11th. Stifel Nicolaus boosted their target price on Rocket Lab from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Monday, December 22nd. Finally, Needham & Company LLC raised their price target on Rocket Lab from $63.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, December 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.92.

Get Our Latest Stock Report on RKLB

Insider Transactions at Rocket Lab

In related news, insider Frank Klein sold 100,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $72.95, for a total value of $7,295,000.00. Following the completion of the transaction, the insider directly owned 1,169,487 shares in the company, valued at $85,314,076.65. This trade represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam C. Spice sold 1,365,665 shares of the business's stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the sale, the chief financial officer directly owned 1,359,568 shares in the company, valued at $102,647,384. The trade was a 50.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,306,150 shares of company stock worth $271,865,732. 11.90% of the stock is owned by insiders.

Rocket Lab Stock Up 9.6%

Shares of NASDAQ:RKLB opened at $81.27 on Wednesday. The firm has a market capitalization of $43.41 billion, a P/E ratio of -213.87 and a beta of 2.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. The stock has a 50 day moving average price of $71.32 and a 200-day moving average price of $58.04. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $99.58.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $155.08 million for the quarter, compared to analyst estimates of $152.45 million. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The firm's revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share. As a group, equities research analysts anticipate that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Rocket Lab Profile

(Free Report)

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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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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