12,517 Shares in Rocket Lab Corporation $RKLB Purchased by Cypress Point Wealth Management LLC

Key Points

• Cypress Point Wealth Management LLC purchased 12,517 shares of Rocket Lab Corporation, valued at approximately $448,000, during the second quarter.
• Insider transactions included CEO Peter Beck selling over 1.4 million shares for more than $70 million, reducing his ownership by 36.49%.
• Analysts have given Rocket Lab a consensus rating of "Moderate Buy" with an average target price of $42.27, following various upgrades from multiple research firms.

Cypress Point Wealth Management LLC acquired a new stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,517 shares of the rocket manufacturer's stock, valued at approximately $448,000.

Several other hedge funds have also recently bought and sold shares of RKLB. Versant Capital Management Inc increased its stake in Rocket Lab by 118.1% in the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after purchasing an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Rocket Lab during the first quarter worth $29,000. Farther Finance Advisors LLC boosted its holdings in shares of Rocket Lab by 181.1% during the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock worth $35,000 after purchasing an additional 1,226 shares during the last quarter. Spectrum Wealth Counsel LLC boosted its holdings in Rocket Lab by 100.0% in the first quarter. Spectrum Wealth Counsel LLC now owns 2,000 shares of the rocket manufacturer's stock valued at $36,000 after acquiring an additional 1,000 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Rocket Lab by 39.8% in the first quarter. National Bank of Canada FI now owns 3,118 shares of the rocket manufacturer's stock valued at $56,000 after acquiring an additional 887 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab Stock Up 1.3%

Shares of RKLB traded up $0.61 during mid-day trading on Friday, reaching $47.79. The company's stock had a trading volume of 26,803,207 shares, compared to its average volume of 21,784,992. The business has a fifty day moving average of $46.24 and a 200 day moving average of $32.02. The company has a market cap of $22.91 billion, a price-to-earnings ratio of -106.20 and a beta of 2.17. Rocket Lab Corporation has a 1 year low of $7.13 and a 1 year high of $55.17. 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 (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). The business had revenue of $144.50 million during 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%. Rocket Lab's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.08) EPS. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, analysts forecast that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on RKLB. Stifel Nicolaus boosted their price objective on Rocket Lab from $34.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Roth Capital reiterated a "buy" rating on shares of Rocket Lab in a research note on Friday, August 29th. Craig Hallum started coverage on Rocket Lab in a research note on Monday, July 28th. They issued a "hold" rating and a $51.00 price target on the stock. 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 target on the stock. Finally, Cantor Fitzgerald boosted their price target on Rocket Lab from $35.00 to $54.00 and gave the stock 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 four have assigned a Hold rating to the stock. Based on data from MarketBeat, Rocket Lab has an average rating of "Moderate Buy" and an average target price of $42.27.

Insider Buying and Selling at Rocket Lab

In related news, CFO Adam C. Spice sold 68,254 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $48.97, for a total transaction of $3,342,398.38. Following the completion of the sale, the chief financial officer directly owned 1,064,981 shares in the company, valued at approximately $52,152,119.57. This trade represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Arjun Kampani sold 9,416 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $47.70, for a total transaction of $449,143.20. Following the transaction, the senior vice president directly owned 489,629 shares in the company, valued at $23,355,303.30. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,538,126 shares of company stock valued at $225,707,066 in the last quarter. Corporate insiders own 11.90% of the company's stock.

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.