AG2R LA Mondiale Gestion D Actifs Purchases Shares of 28,288 Rocket Lab Corporation $RKLB

Key Points

• AG2R LA Mondiale Gestion D Actifs disclosed a new fourth-quarter stake in Rocket Lab, buying 28,288 shares valued at about $1.97 million.
• Rocket Lab’s recent results were strong, with record quarterly revenue of $200.35 million, up 63.4% year over year, and a record $2.2 billion backlog that supports future growth.
• Analysts remain broadly positive after the earnings beat, with several firms lifting price targets and MarketBeat reporting a Moderate Buy consensus and $93.67 average price target, even as some insiders have recently sold shares.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 28,288 shares of the rocket manufacturer's stock, valued at approximately $1,973,000.

A number of other large investors have also made changes to their positions in the company. Sara Bay Financial grew its stake in shares of Rocket Lab by 0.7% during the 4th quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer's stock valued at $1,121,000 after purchasing an additional 117 shares during the period. ORG Partners LLC grew its stake in shares of Rocket Lab by 9.1% during the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer's stock valued at $102,000 after purchasing an additional 121 shares during the period. Traynor Capital Management Inc. grew its stake in shares of Rocket Lab by 1.9% during the 4th quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer's stock valued at $502,000 after purchasing an additional 133 shares during the period. Capital Advisors Wealth Management LLC grew its stake in shares of Rocket Lab by 1.0% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer's stock valued at $939,000 after purchasing an additional 136 shares during the period. Finally, Quadcap Wealth Management LLC grew its stake in shares of Rocket Lab by 2.3% during the 4th quarter. Quadcap Wealth Management LLC now owns 6,246 shares of the rocket manufacturer's stock valued at $436,000 after purchasing an additional 140 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab News Roundup

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

• Positive Sentiment: Rocket Lab’s latest quarter showed record revenue of about $200 million, a 63%+ year-over-year increase, alongside a record backlog of $2.2 billion and stronger-than-expected Q2 guidance, reinforcing confidence in future growth.
• Positive Sentiment: Analysts have been raising price targets after the earnings beat, with Needham boosting its target to $120 and maintaining a Buy rating, which has added momentum to the stock. Article Title
• Positive Sentiment: New contract wins, including Rocket Lab’s largest launch contract ever and a $30 million Anduril deal, are supporting the view that the company is converting its space platform into real, contracted revenue.
• Positive Sentiment: SpaceX IPO speculation is also helping sentiment toward publicly traded space stocks, and Rocket Lab is seen as the closest listed pure-play rival, making it a likely beneficiary of investor interest.
• Neutral Sentiment: Some recent commentary warns that after a huge run-up, RKLB may be extended in the short term and could pause or consolidate before its next move higher.
• Negative Sentiment: One article notes that Rocket Lab’s Neutron development risk and supply-chain constraints could delay backlog conversion and revenue timing, which could temper enthusiasm after the sharp rally.

Rocket Lab Trading Up 0.2%

Shares of NASDAQ:RKLB opened at $117.56 on Wednesday. The stock has a 50 day moving average of $75.44 and a 200 day moving average of $69.53. The company has a market cap of $66.94 billion, a PE ratio of -367.38 and a beta of 2.30. 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 $21.44 and a 12-month high of $123.94.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. During the same period in the previous year, the company posted ($0.12) EPS. The firm's revenue was up 63.4% on a year-over-year basis. As a group, equities research analysts expect that Rocket Lab Corporation will post -0.22 EPS for the current year.

Insider Buying and Selling

In related news, SVP Arjun Kampani sold 28,761 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $2,001,477.99. Following the transaction, the senior vice president directly owned 421,699 shares of the company's stock, valued at approximately $29,346,033.41. The trade was a 6.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Merline Saintil sold 18,126 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $75.04, for a total value of $1,360,175.04. Following the completion of the transaction, the director directly owned 261,903 shares in the company, valued at approximately $19,653,201.12. This represents a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 233,449 shares of company stock worth $16,487,233 in the last quarter. 8.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Roth Mkm boosted their price target on Rocket Lab from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $85.00 price objective on shares of Rocket Lab in a research note on Friday, March 13th. Zacks Research downgraded Rocket Lab from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 10th. Wells Fargo & Company assumed coverage on Rocket Lab in a research note on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 price objective for the company. Finally, Morgan Stanley upgraded Rocket Lab from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $67.00 to $105.00 in a research note on Friday, January 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Rocket Lab presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.67.

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.

Want to see what other hedge funds are holding RKLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Lab Corporation (NASDAQ:RKLB - Free Report).

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.