BNP Paribas Financial Markets Sells 512,307 Shares of Rocket Lab Corporation $RKLB

BNP Paribas Financial Markets reduced its holdings in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,724,719 shares of the rocket manufacturer's stock after selling 512,307 shares during the quarter. BNP Paribas Financial Markets owned about 0.38% of Rocket Lab worth $30,838,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RKLB. Vanguard Group Inc. increased its holdings in Rocket Lab by 10.6% in the first quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock worth $715,728,000 after purchasing an additional 3,833,969 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Rocket Lab in the fourth quarter worth approximately $72,623,000. Two Sigma Investments LP bought a new stake in Rocket Lab in the fourth quarter worth approximately $47,074,000. Driehaus Capital Management LLC bought a new stake in Rocket Lab in the fourth quarter worth approximately $35,987,000. Finally, Invesco Ltd. increased its holdings in Rocket Lab by 56.1% in the first quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer's stock worth $66,840,000 after purchasing an additional 1,343,518 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RKLB shares. Roth Capital reissued a "buy" rating on shares of Rocket Lab in a research note on Friday. The Goldman Sachs Group started coverage on Rocket Lab in a research note on Monday, June 30th. They issued a "neutral" rating and a $27.00 price objective for the company. Citigroup reissued a "buy" rating and issued a $50.00 price objective (up previously from $33.00) on shares of Rocket Lab in a research note on Monday, July 14th. KeyCorp raised their price objective on Rocket Lab from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Finally, Cantor Fitzgerald raised their price objective on Rocket Lab from $35.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.27.

Insider Buying and Selling

In related news, Director Merline Saintil sold 6,353 shares of Rocket Lab stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total transaction of $212,063.14. Following the sale, the director directly owned 419,569 shares in the company, valued at approximately $14,005,213.22. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frank Klein sold 2,546 shares of Rocket Lab stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $76,380.00. Following the sale, the insider owned 1,365,826 shares in the company, valued at $40,974,780. This trade represents a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,040,446 shares of company stock worth $27,247,305 in the last ninety days. Corporate insiders own 11.90% of the company's stock.

Rocket Lab Stock Up 1.4%

Shares of NASDAQ:RKLB opened at $48.60 on Tuesday. The stock has a market cap of $23.30 billion, a price-to-earnings ratio of -108.00 and a beta of 2.17. The company has a quick ratio of 2.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.60. Rocket Lab Corporation has a 12-month low of $5.74 and a 12-month high of $53.44. The business's 50 day moving average is $43.05 and its 200 day moving average is $29.62.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last announced its earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The company had revenue of $144.50 million for the quarter, compared to analysts' expectations of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. The firm's quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. Rocket Lab has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Rocket Lab Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.

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