Charles Schwab Investment Management Inc. Has $51.09 Million Stock Holdings in Rocket Lab Corporation (NASDAQ:RKLB)

Charles Schwab Investment Management Inc. decreased its position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,857,468 shares of the rocket manufacturer's stock after selling 44,744 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of Rocket Lab worth $51,092,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in shares of Rocket Lab during the 4th quarter worth approximately $17,261,000. SG Americas Securities LLC boosted its position in shares of Rocket Lab by 2,186.7% during the 1st quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer's stock worth $6,321,000 after acquiring an additional 338,062 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Rocket Lab by 52.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 58,652 shares of the rocket manufacturer's stock worth $1,049,000 after acquiring an additional 20,076 shares in the last quarter. Smith Anglin Financial LLC boosted its position in shares of Rocket Lab by 132.1% during the 1st quarter. Smith Anglin Financial LLC now owns 27,261 shares of the rocket manufacturer's stock worth $487,000 after acquiring an additional 15,515 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Rocket Lab by 9.6% during the 1st quarter. Rhumbline Advisers now owns 525,018 shares of the rocket manufacturer's stock worth $9,387,000 after acquiring an additional 45,889 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Insider Activity

In related news, Director Merline Saintil sold 6,353 shares of Rocket Lab stock in a transaction on Friday, June 20th. The shares were sold at an average price of $29.41, for a total transaction of $186,841.73. Following the completion of the transaction, the director owned 425,922 shares of the company's stock, valued at $12,526,366.02. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Ocko sold 820,000 shares of Rocket Lab stock in a transaction on Friday, June 13th. The stock was sold at an average price of $26.01, for a total transaction of $21,328,200.00. Following the transaction, the director directly owned 1,083,053 shares of the company's stock, valued at $28,170,208.53. This represents a 43.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,130,995 shares of company stock worth $29,686,039 over the last ninety days. Corporate insiders own 11.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RKLB. The Goldman Sachs Group began coverage on shares of Rocket Lab in a research report on Monday, June 30th. They issued a "neutral" rating and a $27.00 target price on the stock. Craig Hallum began coverage on shares of Rocket Lab in a research report on Monday, July 28th. They issued a "hold" rating and a $51.00 target price on the stock. KeyCorp raised their target price on shares of Rocket Lab from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Roth Capital raised their target price on shares of Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus raised their target price on shares of Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.27.

Rocket Lab Price Performance

RKLB stock opened at $44.27 on Friday. The company has a fifty day moving average price of $39.21 and a 200-day moving average price of $28.32. The company has a market capitalization of $20.43 billion, a P/E ratio of -98.38 and a beta of 2.17. Rocket Lab Corporation has a 52-week low of $5.74 and a 52-week high of $53.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.72 and a current ratio of 2.67.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly 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 business had revenue of $144.50 million for the quarter, compared to the consensus estimate of $135.42 million. Rocket Lab had a negative net margin of 45.87% and a negative return on equity of 48.14%. During the same period in the previous year, the business posted ($0.08) EPS. Rocket Lab's revenue was up 35.9% on a year-over-year basis. As a group, equities analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current year.

About Rocket Lab

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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