Maryland State Retirement & Pension System Purchases New Shares in Rocket Lab Corporation $RKLB

Key Points

• The Maryland State Retirement & Pension System acquired a new stake in Rocket Lab Corporation, purchasing 19,026 shares valued at approximately $681,000 during the second quarter.
• Several large investors, including Vanguard Group and Invesco Ltd., significantly increased their holdings in Rocket Lab, indicating growing institutional interest in the company.
• Despite a missed earnings estimate reported in August, Rocket Lab's quarterly revenue grew by 35.9% compared to the previous year, showcasing the company's potential for growth.

Maryland State Retirement & Pension System purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,026 shares of the rocket manufacturer's stock, valued at approximately $681,000.

A number of other large investors have also added to or reduced their stakes in RKLB. Vanguard Group Inc. increased its position in Rocket Lab by 10.6% during the first quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer's stock valued at $715,728,000 after acquiring an additional 3,833,969 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Rocket Lab in the second quarter worth approximately $192,918,000. Invesco Ltd. raised its holdings in shares of Rocket Lab by 56.1% in the first quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer's stock worth $66,840,000 after buying an additional 1,343,518 shares during the period. Westfield Capital Management Co. LP grew its stake in Rocket Lab by 2.6% in the first quarter. Westfield Capital Management Co. LP now owns 2,586,532 shares of the rocket manufacturer's stock worth $46,247,000 after purchasing an additional 65,255 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Rocket Lab by 6.4% in the first quarter. Royal Bank of Canada now owns 2,128,536 shares of the rocket manufacturer's stock worth $38,057,000 after purchasing an additional 128,907 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Insider Buying and Selling

In related news, SVP Arjun Kampani sold 9,416 shares of Rocket Lab stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Adam C. Spice sold 874,588 shares of Rocket Lab stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $48.01, for a total value of $41,988,969.88. Following the transaction, the chief financial officer owned 2,057,889 shares of the company's stock, valued at $98,799,250.89. This represents a 29.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,406,361 shares of company stock worth $267,483,973 in the last three months. Company insiders own 11.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RKLB. Stifel Nicolaus increased their target price on Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. KeyCorp raised their price objective on Rocket Lab from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Roth Capital restated a "buy" rating on shares of Rocket Lab in a research note on Friday, August 29th. Citigroup reiterated a "buy" rating and set a $50.00 price objective (up previously from $33.00) on shares of Rocket Lab in a research note on Monday, July 14th. Finally, 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 for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Rocket Lab currently has an average rating of "Moderate Buy" and an average price target of $46.64.

Rocket Lab Stock Up 1.8%

Shares of NASDAQ RKLB opened at $65.42 on Tuesday. The stock has a market cap of $31.66 billion, a P/E ratio of -145.38 and a beta of 2.14. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60. Rocket Lab Corporation has a 12-month low of $9.48 and a 12-month high of $73.50. The business's fifty day simple moving average is $48.83 and its 200-day simple moving average is $36.16.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last posted its earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) EPS for the quarter, missing the consensus estimate 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%. The business's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

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.

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