Raymond James Financial Inc. Has $10.76 Million Holdings in Rocket Lab Corporation $RKLB

Key Points

• Raymond James Financial Inc. increased its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 166.5%, owning 601,497 shares valued at approximately $10.76 million after acquiring an additional 375,831 shares in the first quarter.
• A significant insider trade occurred when Director Matthew Ocko sold 820,000 shares, reducing his stake by 43.09%, while insiders sold a total of 1,049,276 shares worth $27.48 million over the last quarter.
• Multiple analysts adjusted their price targets for Rocket Lab, with Stifel Nicolaus raising it to $55.00 and Cantor Fitzgerald to $54.00, reflecting a generally positive outlook on the stock's performance.

Raymond James Financial Inc. grew its position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 166.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 601,497 shares of the rocket manufacturer's stock after buying an additional 375,831 shares during the period. Raymond James Financial Inc. owned about 0.13% of Rocket Lab worth $10,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in shares of Rocket Lab during the 4th quarter worth approximately $17,261,000. SG Americas Securities LLC increased its position in Rocket Lab by 2,186.7% in the 1st quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer's stock valued at $6,321,000 after acquiring an additional 338,062 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Rocket Lab by 52.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 58,652 shares of the rocket manufacturer's stock valued at $1,049,000 after acquiring an additional 20,076 shares during the period. Smith Anglin Financial LLC increased its position in Rocket Lab by 132.1% in the 1st quarter. Smith Anglin Financial LLC now owns 27,261 shares of the rocket manufacturer's stock valued at $487,000 after acquiring an additional 15,515 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in Rocket Lab by 155.7% in the 1st quarter. Mizuho Markets Americas LLC now owns 785,471 shares of the rocket manufacturer's stock valued at $14,044,000 after acquiring an additional 478,333 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rocket Lab

In related news, Director Merline Saintil sold 6,353 shares of Rocket Lab stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $33.38, for a total transaction of $212,063.14. Following the completion of the sale, the director owned 419,569 shares of the company's stock, valued at approximately $14,005,213.22. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Ocko sold 820,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $26.01, for a total value of $21,328,200.00. Following the transaction, the director owned 1,083,053 shares in the company, valued at approximately $28,170,208.53. This trade represents a 43.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,040,446 shares of company stock worth $27,247,305 in the last ninety days. Company insiders own 11.90% of the company's stock.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several analyst reports. The Goldman Sachs Group started coverage on Rocket Lab in a research report on Monday, June 30th. They issued a "neutral" rating and a $27.00 target price on the stock. Craig Hallum started coverage on Rocket Lab in a research report on Monday, July 28th. They set a "hold" rating and a $51.00 price target on the stock. Cantor Fitzgerald lifted their price target on Rocket Lab from $35.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Stifel Nicolaus lifted their price target on Rocket Lab from $34.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Citigroup reiterated a "buy" rating and set a $50.00 price target (up from $33.00) on shares of Rocket Lab in a research report on Monday, July 14th. 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 company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.27.

Rocket Lab Stock Up 1.4%

Shares of Rocket Lab stock traded up $0.69 during midday trading on Monday, hitting $48.60. The company's stock had a trading volume of 15,851,315 shares, compared to its average volume of 20,560,366. The firm has a market capitalization of $23.30 billion, a P/E ratio of -108.00 and a beta of 2.17. The stock has a 50-day simple moving average of $42.73 and a 200-day simple moving average of $29.48. 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 Corporation has a 1-year low of $5.74 and a 1-year high of $53.44.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued 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 analyst estimates of $135.42 million. Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The business's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Rocket Lab Corporation will post -0.38 earnings per share for the current year.

About Rocket Lab

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.