Lbp Am Sa Sells 104,821 Shares of Rocket Lab Corporation (NASDAQ:RKLB)

LBP AM SA lessened its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 39.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 158,284 shares of the rocket manufacturer's stock after selling 104,821 shares during the period. LBP AM SA's holdings in Rocket Lab were worth $2,830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of RKLB. Sandy Spring Bank purchased a new position in shares of Rocket Lab in the 4th quarter valued at $26,000. Versant Capital Management Inc increased its position in Rocket Lab by 118.1% during the first quarter. Versant Capital Management Inc now owns 1,588 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 860 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in Rocket Lab during the first quarter worth approximately $29,000. Farther Finance Advisors LLC boosted its stake in shares of Rocket Lab by 181.1% in the first quarter. Farther Finance Advisors LLC now owns 1,903 shares of the rocket manufacturer's stock valued at $35,000 after purchasing an additional 1,226 shares during the period. Finally, Quarry LP bought a new position in Rocket Lab during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RKLB shares. Needham & Company LLC lifted their price objective on shares of Rocket Lab from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Stifel Nicolaus boosted their price objective on shares of Rocket Lab from $29.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Wells Fargo & Company reduced their price objective on shares of Rocket Lab from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Cantor Fitzgerald reiterated an "overweight" rating and set a $35.00 target price on shares of Rocket Lab in a research note on Monday. Finally, The Goldman Sachs Group started coverage on shares of Rocket Lab in a research note on Monday, June 30th. They set a "neutral" rating and a $27.00 target price for the company. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rocket Lab has a consensus rating of "Moderate Buy" and a consensus price target of $32.10.

Insider Activity

In related news, insider Arjun Kampani sold 5,194 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $30.00, for a total transaction of $155,820.00. Following the completion of the sale, the insider directly owned 530,230 shares of the company's stock, valued at approximately $15,906,900. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frank Klein sold 2,546 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $30.00, for a total transaction of $76,380.00. Following the transaction, the insider directly owned 1,365,826 shares of the company's stock, valued at $40,974,780. This represents a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,130,995 shares of company stock valued at $29,686,039. Insiders own 13.70% of the company's stock.

Rocket Lab Price Performance

Shares of RKLB traded up $4.18 during trading hours on Monday, hitting $43.21. The stock had a trading volume of 29,027,153 shares, compared to its average volume of 18,442,917. The company's fifty day moving average is $28.93 and its two-hundred day moving average is $25.08. The stock has a market capitalization of $19.60 billion, a price-to-earnings ratio of -108.03 and a beta of 2.15. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.08 and a quick ratio of 1.72. Rocket Lab Corporation has a 52 week low of $4.20 and a 52 week high of $43.44.

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