CIBC Asset Management Inc Acquires 5,604 Shares of Rocket Lab Corporation $RKLB

Key Points

• CIBC Asset Management increased its Rocket Lab stake by 36.5% in the fourth quarter, buying 5,604 additional shares and bringing its total holding to 20,971 shares worth about $1.46 million.
• Institutional ownership remains high, with several other hedge funds and large investors also raising their positions in RKLB. The article notes that institutional investors own 71.78% of the company.
• Rocket Lab continues to draw bullish analyst interest, with multiple firms lifting price targets and the stock carrying an average Moderate Buy rating and average target of $98.88, despite some recent insider selling and competition concerns tied to SpaceX.

CIBC Asset Management Inc increased its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 36.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,971 shares of the rocket manufacturer's stock after purchasing an additional 5,604 shares during the quarter. CIBC Asset Management Inc's holdings in Rocket Lab were worth $1,463,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RKLB. Swedbank AB increased its position in shares of Rocket Lab by 8.2% during the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer's stock worth $35,525,000 after purchasing an additional 38,770 shares during the last quarter. Firsthand Capital Management Inc. boosted 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 valued at $3,354,000 after buying an additional 20,000 shares during the last quarter. Swiss National Bank grew its stake in shares of Rocket Lab by 67.7% in the third quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer's stock valued at $59,582,000 after buying an additional 501,830 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock valued at $3,308,033,000 after buying an additional 5,610,469 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in Rocket Lab by 14.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer's stock worth $7,335,000 after buying an additional 19,304 shares during the last quarter. Institutional investors own 71.78% of the company's stock.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Rocket Lab is being promoted as an attractive way to gain exposure to the space economy, with articles suggesting investors may prefer RKLB over chasing the SpaceX IPO directly. Article title
• Positive Sentiment: Coverage around CEO Peter Beck’s comments reinforced the idea that Rocket Lab is one of the few companies that has successfully scaled space launch, supporting the long-term investment case. Article title
• Positive Sentiment: Analyst and media commentary framed Rocket Lab as a possible beneficiary of the renewed enthusiasm for space stocks ahead of SpaceX’s planned public debut. Article title
• Neutral Sentiment: Rocket Lab appointed veteran accounting executive Agostino Ricupati as Chief Accounting Officer, a governance-focused move that may help as the company scales but is not an immediate operating catalyst. Article title
• Neutral Sentiment: Several articles noted that Rocket Lab is still being weighed against SpaceX’s much larger scale and competitive lead, which keeps valuation and execution questions in focus. Article title
• Negative Sentiment: Some space-stock coverage said RKLB and peers were under pressure overnight as investors worried SpaceX could dominate access to orbit and intensify competition across the sector. Article title
• Negative Sentiment: Rocket Lab has also faced recent selling pressure tied to SpaceX IPO headlines, Blue Origin’s explosion, and broader macro concerns, which have added volatility to the stock. Article title

Analysts Set New Price Targets

RKLB has been the subject of a number of recent analyst reports. BTIG Research reiterated a "hold" rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Needham & Company LLC upped their target price on shares of Rocket Lab from $95.00 to $120.00 and gave the company a "buy" rating in a report on Monday, May 11th. Zacks Research downgraded shares of Rocket Lab from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 10th. New Street Research began coverage on Rocket Lab in a report on Wednesday, May 13th. They set a "buy" rating and a $150.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.88.

Insider Activity

In other news, SVP Arjun Kampani sold 70,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $145.13, for a total value of $10,159,100.00. Following the sale, the senior vice president directly owned 376,509 shares in the company, valued at approximately $54,642,751.17. This trade represents a 15.68% decrease in their position. The transaction was disclosed in a document filed 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 Marvin Bradford Clevenger sold 15,549 shares of Rocket Lab stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $2,216,820.93. Following the sale, the insider directly owned 477,475 shares in the company, valued at $68,073,610.75. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 485,515 shares of company stock valued at $66,909,882. Corporate insiders own 8.40% of the company's stock.

Rocket Lab Stock Performance

NASDAQ RKLB opened at $113.65 on Tuesday. The firm's 50 day simple moving average is $97.98 and its 200 day simple moving average is $79.44. The firm has a market capitalization of $65.77 billion, a price-to-earnings ratio of -355.16 and a beta of 2.48. Rocket Lab Corporation has a 1 year low of $25.24 and a 1 year high of $151.00. 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 (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting 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 analysts' expectations of $189.65 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. Rocket Lab's revenue was up 63.4% on a year-over-year basis. As a group, research analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Rocket Lab 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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