Rocket Lab Corporation (NASDAQ:RKLB) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. raised its position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 54.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,364 shares of the rocket manufacturer's stock after buying an additional 8,200 shares during the quarter. Vontobel Holding Ltd.'s holdings in Rocket Lab were worth $418,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of Rocket Lab during the 4th quarter worth $17,261,000. SG Americas Securities LLC boosted its position in shares of Rocket Lab by 2,186.7% during the 1st quarter. SG Americas Securities LLC now owns 353,522 shares of the rocket manufacturer's stock worth $6,321,000 after purchasing an additional 338,062 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Rocket Lab by 52.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 58,652 shares of the rocket manufacturer's stock worth $1,049,000 after purchasing an additional 20,076 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Rocket Lab in the 4th quarter worth about $5,748,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Rocket Lab by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock worth $73,919,000 after buying an additional 23,855 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab Stock Up 9.0%

RKLB stock opened at $38.88 on Tuesday. Rocket Lab Corporation has a twelve month low of $4.20 and a twelve month high of $39.06. The company has a current ratio of 2.08, a quick ratio of 1.72 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $17.63 billion, a P/E ratio of -97.20 and a beta of 2.15. The firm has a 50 day simple moving average of $27.59 and a 200-day simple moving average of $24.73.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.02). Rocket Lab had a negative return on equity of 48.92% and a negative net margin of 44.32%. The company had revenue of $122.57 million for the quarter, compared to analyst estimates of $120.74 million. During the same period in the previous year, the business posted ($0.09) EPS. The firm's quarterly revenue was up 32.1% compared to the same quarter last year. On average, equities research analysts predict that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Rocket Lab in a report on Monday, June 30th. They issued a "neutral" rating and a $27.00 target price on the stock. KeyCorp increased their price objective on shares of Rocket Lab from $29.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Wells Fargo & Company cut their price objective on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Needham & Company LLC increased their price objective on shares of Rocket Lab from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Morgan Stanley increased their target price on shares of Rocket Lab from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $30.40.

Insider Activity at Rocket Lab

In other Rocket Lab news, Director Matthew Ocko sold 820,000 shares of Rocket Lab stock in a transaction on 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 completion of the transaction, the director owned 1,083,053 shares of the company's stock, valued at $28,170,208.53. The trade was a 43.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the director directly owned 419,569 shares of the company's stock, valued at approximately $14,005,213.22. This represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,130,995 shares of company stock worth $29,686,039 over the last three months. 13.70% of the stock is owned by corporate insiders.

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.

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