Rocket Lab Corporation $RKLB Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn boosted its stake in Rocket Lab by 44.7% to 992,777 shares (about $35.5M), representing roughly 0.22% of the company per its latest 13F filing.
• There was heavy insider selling: Director Matthew Ocko sold 1,873,097 shares (~$90.3M) and insiders disposed of 5,406,361 shares worth about $267.5M in the last quarter, leaving insiders with 11.9% ownership.
• Analysts have a consensus rating of Moderate Buy with a target of $51.75; the stock trades near $51.64, has a 12‑month range of $12.90–$73.97, and the company remains loss-making despite 35.9% year‑over‑year revenue growth last quarter.

Connor Clark & Lunn Investment Management Ltd. boosted its position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 44.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 992,777 shares of the rocket manufacturer's stock after buying an additional 306,713 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.22% of Rocket Lab worth $35,512,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Truist Financial Corp boosted its holdings in shares of Rocket Lab by 1.9% in the second quarter. Truist Financial Corp now owns 12,352 shares of the rocket manufacturer's stock valued at $442,000 after acquiring an additional 234 shares in the last quarter. GAMMA Investing LLC lifted its position in Rocket Lab by 36.4% in the second quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer's stock valued at $54,000 after purchasing an additional 405 shares during the period. Allworth Financial LP boosted its holdings in Rocket Lab by 4.0% in the 1st quarter. Allworth Financial LP now owns 11,888 shares of the rocket manufacturer's stock valued at $213,000 after purchasing an additional 458 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in Rocket Lab by 1.4% during the 1st quarter. Atria Wealth Solutions Inc. now owns 35,085 shares of the rocket manufacturer's stock worth $627,000 after purchasing an additional 500 shares during the period. Finally, CWM LLC raised its stake in shares of Rocket Lab by 7.0% during the 2nd quarter. CWM LLC now owns 8,491 shares of the rocket manufacturer's stock worth $304,000 after buying an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Insider Activity

In other Rocket Lab news, SVP Arjun Kampani sold 9,416 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $47.70, for a total transaction of $449,143.20. Following the completion of the transaction, the senior vice president owned 489,629 shares of the company's stock, valued at approximately $23,355,303.30. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew Ocko sold 1,873,097 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $48.20, for a total value of $90,283,275.40. Following the completion of the sale, the director owned 541,526 shares in the company, valued at $26,101,553.20. This represents a 77.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,406,361 shares of company stock worth $267,483,973 in the last quarter. 11.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RKLB shares. Robert W. Baird initiated coverage on shares of Rocket Lab in a research report on Wednesday, October 15th. They set an "outperform" rating and a $83.00 target price on the stock. Bank of America boosted their price objective on shares of Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Needham & Company LLC restated a "buy" rating and set a $55.00 target price on shares of Rocket Lab in a research report on Wednesday, September 3rd. Craig Hallum started coverage on shares of Rocket Lab in a research report on Monday, July 28th. They set a "hold" rating and a $51.00 price target for the company. Finally, Baird R W raised Rocket Lab to a "strong-buy" rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rocket Lab has a consensus rating of "Moderate Buy" and a consensus target price of $51.75.

Rocket Lab Stock Performance

Shares of RKLB opened at $51.64 on Monday. Rocket Lab Corporation has a 12-month low of $12.90 and a 12-month high of $73.97. The stock has a market cap of $24.99 billion, a P/E ratio of -114.76 and a beta of 2.16. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $55.63 and a two-hundred day moving average of $42.10.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share 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 analysts' expectations of $135.42 million. During the same period last year, the business earned ($0.08) earnings per share. The company's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, research analysts predict that Rocket Lab Corporation will post -0.38 EPS for the current fiscal year.

Rocket Lab Company 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.

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