Leonteq Securities AG increased its stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 80.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,848 shares of the rocket manufacturer's stock after purchasing an additional 5,743 shares during the quarter. Leonteq Securities AG's holdings in Rocket Lab were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. increased its position in shares of Rocket Lab by 47.2% in the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer's stock worth $1,245,317,000 after acquiring an additional 5,725,536 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Rocket Lab by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock valued at $3,308,033,000 after acquiring an additional 5,610,469 shares in the last quarter. Norges Bank purchased a new stake in shares of Rocket Lab in the 4th quarter valued at approximately $341,036,000. Alliancebernstein L.P. boosted its stake in Rocket Lab by 818.8% in the 3rd quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer's stock worth $104,929,000 after purchasing an additional 1,951,755 shares during the period. Finally, Capital World Investors grew its position in Rocket Lab by 12.0% during the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer's stock worth $1,130,172,000 after purchasing an additional 1,738,623 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.
More Rocket Lab News
Here are the key news stories impacting Rocket Lab this week:
Insider Activity
In other Rocket Lab news, Director Alexander R. Slusky sold 40,000 shares of the company's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total value of $4,944,000.00. Following the transaction, the director directly owned 334,675 shares of the company's stock, valued at $41,365,830. This represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Arjun Kampani sold 88,000 shares of the firm's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $107.98, for a total value of $9,502,240.00. Following the sale, the senior vice president directly owned 264,705 shares of the company's stock, valued at $28,582,845.90. This trade represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 573,515 shares of company stock valued at $76,412,122. 8.40% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
RKLB has been the topic of several recent analyst reports. New Street Research began coverage on shares of Rocket Lab in a research note on Wednesday, May 13th. They set a "buy" rating and a $150.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $120.00 target price on shares of Rocket Lab in a research report on Tuesday. Roth Mkm lifted their price target on Rocket Lab from $100.00 to $130.00 and gave the company a "buy" rating in a report on Monday. Bank of America upped their price target on Rocket Lab from $105.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a research note on Thursday, June 4th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $108.24.
View Our Latest Research Report on Rocket Lab
Rocket Lab Price Performance
RKLB stock opened at $100.46 on Friday. Rocket Lab Corporation has a 12-month low of $35.25 and a 12-month high of $151.00. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The company has a market cap of $58.14 billion, a price-to-earnings ratio of -313.94 and a beta of 2.54. The company has a 50 day moving average of $108.81 and a two-hundred day moving average of $86.34.
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, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business had revenue of $200.35 million for the quarter, compared to analysts' expectations of $189.65 million. During the same period in the previous year, the company posted ($0.12) EPS. Rocket Lab's revenue was up 63.4% on a year-over-year basis. On average, equities analysts anticipate that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.
About Rocket Lab
(
Free Report)
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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