Northern Trust Corp Sells 53,480 Shares of Rocket Lab Corporation $RKLB

Key Points

• Northern Trust Corp reduced its stake in Rocket Lab Corporation by 1.7%, holding 3,174,137 shares worth approximately $56.75 million, as detailed in its latest SEC filing.
• Director Matthew Ocko sold 820,000 shares for over $21.3 million, representing a 43.09% decrease in his holdings, which contributed to a total of 1,123,149 shares sold by insiders worth nearly $29.5 million in the past three months.
• Rocket Lab's stock performance shows a market cap of $22.17 billion, with a negative P/E ratio of -102.78, and reported quarterly revenue of $144.50 million, exceeding analyst expectations.

Northern Trust Corp lessened its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,174,137 shares of the rocket manufacturer's stock after selling 53,480 shares during the quarter. Northern Trust Corp owned approximately 0.70% of Rocket Lab worth $56,754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in Rocket Lab by 118.1% during the 1st quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock valued at $28,000 after acquiring an additional 860 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in Rocket Lab during the 1st quarter valued at about $29,000. Quarry LP purchased a new position in Rocket Lab during the 4th quarter valued at about $48,000. Farther Finance Advisors LLC grew its stake in Rocket Lab by 181.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after acquiring an additional 1,226 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Rocket Lab by 1,000.0% in the 4th 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. Hedge funds and other institutional investors own 71.78% of the company's stock.

Insider Transactions at Rocket Lab

In related news, insider Frank Klein sold 44,885 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $26.66, for a total value of $1,196,634.10. Following the completion of the transaction, the insider directly owned 1,370,190 shares in the company, valued at approximately $36,529,265.40. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Arjun Kampani sold 28,988 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $26.66, for a total value of $772,820.08. Following the completion of the sale, the insider owned 540,618 shares in the company, valued at $14,412,875.88. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,123,149 shares of company stock valued at $29,450,894. Company insiders own 11.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RKLB. Bank of America boosted their price target on Rocket Lab from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Cantor Fitzgerald boosted their price target on Rocket Lab from $35.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. KeyCorp boosted their price target on Rocket Lab from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Roth Capital boosted their price target on Rocket Lab from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $55.00 price target (up previously from $45.00) on shares of Rocket Lab in a research note on Friday, August 8th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $42.27.

Rocket Lab Stock Performance

Shares of RKLB stock traded up $1.66 during trading hours on Thursday, reaching $47.91. 16,898,439 shares of the company's stock were exchanged, compared to its average volume of 20,146,670. Rocket Lab Corporation has a fifty-two week low of $5.74 and a fifty-two week high of $53.44. The stock has a market capitalization of $22.97 billion, a P/E ratio of -106.47 and a beta of 2.17. The business has a fifty day moving average price of $41.96 and a 200-day moving average price of $29.20. 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 issued its quarterly earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The business had revenue of $144.50 million for the quarter, compared to analyst estimates of $135.42 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm's quarterly revenue was up 35.9% compared to the same quarter last year. Rocket Lab has set its Q3 2025 guidance at EPS. 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.