Cresset Asset Management LLC Raises Position in Rocket Lab Corporation $RKLB

Key Points

• Cresset Asset Management LLC increased its holdings in Rocket Lab Corporation by 75.4%, acquiring an additional 10,474 shares, bringing their total to 24,374 shares valued at approximately $436,000.
• Significant transactions from insiders include Director Matthew Ocko selling 820,000 shares for over $21 million, leading to a 43% reduction in his ownership stake.
• Wall Street analysts have raised their price targets for Rocket Lab, with KeyCorp increasing its target to $50.00 and Needham & Company setting it at $55.00, indicating a consensus of Moderate Buy with an average price target of $42.27.

Cresset Asset Management LLC boosted its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 75.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,374 shares of the rocket manufacturer's stock after buying an additional 10,474 shares during the quarter. Cresset Asset Management LLC's holdings in Rocket Lab were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RKLB. Envestnet Asset Management Inc. boosted its position in Rocket Lab by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer's stock worth $554,000 after purchasing an additional 696 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Rocket Lab by 1,000.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,925 shares of the rocket manufacturer's stock valued at $49,000 after buying an additional 1,750 shares in the last quarter. Marshall Wace LLP purchased a new position in Rocket Lab during the 4th quarter valued at about $322,000. First Trust Advisors LP increased its holdings in Rocket Lab by 90.2% during the 4th quarter. First Trust Advisors LP now owns 789,266 shares of the rocket manufacturer's stock valued at $20,103,000 after acquiring an additional 374,356 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Rocket Lab by 1,646.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 29,165 shares of the rocket manufacturer's stock valued at $743,000 after acquiring an additional 27,495 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab Trading Down 3.6%

Shares of NASDAQ RKLB traded down $1.75 on Wednesday, reaching $46.38. 13,989,103 shares of the company traded hands, compared to its average volume of 20,148,334. Rocket Lab Corporation has a fifty-two week low of $5.74 and a fifty-two week high of $53.44. The company has a 50 day moving average of $41.59 and a 200 day moving average of $29.08. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $22.23 billion, a PE ratio of -102.91 and a beta of 2.17.

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

Insider Transactions at Rocket Lab

In other Rocket Lab news, Director Merline Saintil sold 6,353 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $33.38, for a total transaction of $212,063.14. Following the completion of the sale, the director directly owned 419,569 shares in the company, valued at $14,005,213.22. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Ocko sold 820,000 shares of the business's stock in a transaction that occurred 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 sale, the director owned 1,083,053 shares of the company's stock, valued at approximately $28,170,208.53. This represents a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,149 shares of company stock worth $29,450,894 over the last 90 days. Company insiders own 11.90% of the company's stock.

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of recent research reports. Craig Hallum initiated coverage on shares of Rocket Lab in a research note on Monday, July 28th. They set a "hold" rating and a $51.00 price objective for the company. Citigroup reissued a "buy" rating and set a $50.00 price target (up previously from $33.00) on shares of Rocket Lab in a research report on Monday, July 14th. Needham & Company LLC reissued a "buy" rating and set a $55.00 price target (up previously from $45.00) on shares of Rocket Lab in a research report on Friday, August 8th. Roth Capital raised their price target on Rocket Lab from $25.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group assumed coverage on Rocket Lab in a research report on Monday, June 30th. They set a "neutral" rating and a $27.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $42.27.

Rocket Lab 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.