Rocket Lab Corporation $RKLB Shares Bought by Wealthfront Advisers LLC

Key Points

• Wealthfront Advisers LLC increased its stake in Rocket Lab by 16.9% in Q4 to 117,662 shares valued at about $8.21 million, and institutional investors now own roughly 71.78% of the stock.
• Company insiders have been net sellers recently—233,449 shares worth $16.49 million were sold in the last 90 days, including CEO Peter Beck and Director Merline Saintil—though insiders still hold about 8.40% of the company.
• Rocket Lab shares recently opened at $77.02 with a market cap of $43.86 billion and a 52-week range of $20.23–$99.58; the stock has a negative P/E (-208.16) and a consensus analyst rating of "Moderate Buy" with a $83.31 average price target.

Wealthfront Advisers LLC grew its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,662 shares of the rocket manufacturer's stock after acquiring an additional 16,985 shares during the period. Wealthfront Advisers LLC's holdings in Rocket Lab were worth $8,208,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rocket Lab during the third quarter valued at about $25,000. Hara Capital LLC acquired a new stake in shares of Rocket Lab during the third quarter valued at about $25,000. Aventura Private Wealth LLC acquired a new stake in shares of Rocket Lab during the fourth quarter valued at about $25,000. UMB Bank n.a. grew its stake in shares of Rocket Lab by 352.5% during the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer's stock valued at $26,000 after acquiring an additional 423 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer's stock worth $28,000 after purchasing an additional 416 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab Stock Performance

Shares of NASDAQ RKLB opened at $77.02 on Thursday. The company has a quick ratio of 3.61, a current ratio of 4.08 and a debt-to-equity ratio of 0.10. The firm's 50-day moving average price is $72.14 and its two-hundred day moving average price is $68.10. Rocket Lab Corporation has a 52-week low of $20.23 and a 52-week high of $99.58. The stock has a market capitalization of $43.86 billion, a P/E ratio of -208.16 and a beta of 2.20.

Insider Transactions at Rocket Lab

In other Rocket Lab news, CEO Peter Beck sold 18,857 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $1,312,258.63. Following the transaction, the chief executive officer owned 884,085 shares of the company's stock, valued at $61,523,475.15. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Merline Saintil sold 18,126 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $75.04, for a total transaction of $1,360,175.04. Following the completion of the transaction, the director directly owned 261,903 shares in the company, valued at $19,653,201.12. This represents a 6.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 233,449 shares of company stock valued at $16,487,233 over the last ninety days. Insiders own 8.40% of the company's stock.

Analyst Ratings Changes

RKLB has been the topic of several research analyst reports. Citigroup raised shares of Rocket Lab from a "market perform" rating to an "outperform" rating in a research report on Tuesday, April 14th. Zacks Research cut shares of Rocket Lab from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 10th. Wall Street Zen raised shares of Rocket Lab from a "sell" rating to a "hold" rating in a research report on Sunday, February 8th. Wells Fargo & Company initiated coverage on shares of Rocket Lab in a research report on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 price target on the stock. Finally, Bank of America increased their price target on shares of Rocket Lab from $60.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $83.31.

About Rocket Lab

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company's primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company's propulsion capabilities.

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