BI Asset Management Fondsmaeglerselskab A S Sells 122,417 Shares of Rocket Lab Corporation $RKLB

Key Points

• BI Asset Management sharply cut its Rocket Lab position in Q1, selling 122,417 shares and reducing its stake by 79.7% to 31,259 shares worth about $2.0 million.
• Analysts remain broadly positive on RKLB, with the consensus rating at Moderate Buy and an average price target of $102.76. Recent notes included higher targets from Deutsche Bank and Roth Mkm.
• Rocket Lab reported Q1 revenue of $200.35 million, up 63.4% year over year, while EPS came in at -$0.07, matching expectations. The stock also traded around $95.12, below its recent 50-day average but well above its 12-month low.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 79.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,259 shares of the rocket manufacturer's stock after selling 122,417 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Rocket Lab were worth $2,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Swedbank AB boosted its stake in shares of Rocket Lab by 8.2% in the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer's stock valued at $35,525,000 after purchasing an additional 38,770 shares in the last quarter. Firsthand Capital Management Inc. grew its holdings in shares of Rocket Lab by 40.0% in the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer's stock worth $3,354,000 after purchasing an additional 20,000 shares during the last quarter. Swiss National Bank increased its position in shares of Rocket Lab by 67.7% during the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer's stock worth $59,582,000 after purchasing an additional 501,830 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Rocket Lab by 13.4% during 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 in the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Rocket Lab by 6.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer's stock valued at $180,849,000 after acquiring an additional 154,623 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RKLB shares. Deutsche Bank Aktiengesellschaft increased their price target on Rocket Lab from $73.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, May 12th. Wells Fargo & Company initiated coverage on Rocket Lab in a research report on Wednesday, April 1st. They issued an "equal weight" rating and a $60.00 price objective for the company. Roth Mkm boosted their price objective on Rocket Lab from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Cantor Fitzgerald restated an "overweight" rating on shares of Rocket Lab in a report on Wednesday, May 27th. Finally, BTIG Research restated a "hold" rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.76.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the completion of the sale, the chief financial officer owned 983,049 shares in the company, valued at approximately $140,153,295.93. The trade was a 6.00% decrease in their position. The sale was disclosed in a legal filing 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, insider Frank Klein sold 44,390 shares of Rocket Lab stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $6,328,682.30. Following the transaction, the insider directly owned 1,043,847 shares in the company, valued at $148,821,266.79. The trade was a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 573,515 shares of company stock valued at $76,412,122. 8.40% of the stock is currently owned by corporate insiders.

Rocket Lab Price Performance

Shares of RKLB stock opened at $95.12 on Wednesday. The stock has a 50-day moving average price of $106.79 and a 200 day moving average price of $84.38. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The firm has a market cap of $55.05 billion, a price-to-earnings ratio of -297.25 and a beta of 2.49. Rocket Lab Corporation has a 12 month low of $31.78 and a 12 month high of $151.00.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its earnings results 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 net margin of 26.87% and a negative return on equity of 11.72%. The company had revenue of $200.35 million for the quarter, compared to the consensus estimate of $189.65 million. During the same period in the prior year, the company posted ($0.12) EPS. The company's revenue was up 63.4% compared to the same quarter last year. Research analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current year.

Key Headlines Impacting Rocket Lab

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

• Positive Sentiment: Rocket Lab successfully completed its VICTUS HAZE mission for the U.S. Space Force, launching its Electron rocket and deploying its Pioneer spacecraft in just 16 hours and 42 minutes after notice-to-launch, setting a new global record for rapid space response. Article Title
• Positive Sentiment: The mission highlights Rocket Lab’s end-to-end defense capabilities, including spacecraft design, launch, and on-orbit operations, which could support future government contract wins and strengthen its competitive position in national security space. Article Title
• Neutral Sentiment: Rocket Lab officially joined the Nasdaq-100, which is a milestone that can improve visibility and index-fund ownership, but it also appears to have sparked profit-taking after a strong pre-inclusion rally. Article Title
• Neutral Sentiment: Recent commentary argues Rocket Lab may be positioned for a rebound because its revenue growth remains strong and the stock has pulled back to a key support area near $100. Article Title
• Negative Sentiment: The stock is also being pressured by a broader risk-off move in equities and weakness across space stocks, including sentiment tied to SpaceX’s public debut and sector rotation out of recent winners. Article Title

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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