Rocket Lab Corporation $RKLB Stock Holdings Increased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its holding in Rocket Lab by 5.4% to 41,809,723 shares, representing roughly 8.64% of the company and about $2.003 billion in value per its latest 13F filing.
• Insiders sold heavily last quarter—CEO Peter Beck sold 1,560,254 shares (~$89.7M) and Director Merline Saintil sold 96,000 shares (~$8.3M), with insiders offloading 4,306,150 shares totaling about $271.9M and now owning 11.90% of the company.
• Analyst sentiment is mixed-to-positive with a consensus rating of “Moderate Buy” and a $72.92 consensus price target; notable moves include Morgan Stanley upgrading to overweight with a $105 target while Weiss Ratings reiterated a sell.

Vanguard Group Inc. grew its position in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 5.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,809,723 shares of the rocket manufacturer's stock after buying an additional 2,127,565 shares during the period. Vanguard Group Inc. owned about 8.64% of Rocket Lab worth $2,003,104,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Rocket Lab during the third quarter worth $25,000. Hara Capital LLC bought a new stake in Rocket Lab during the third quarter valued at $25,000. UMB Bank n.a. raised its holdings 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 worth $26,000 after purchasing an additional 423 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Rocket Lab during the 3rd quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC raised its stake in 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 acquiring an additional 416 shares during the period. Institutional investors and hedge funds own 71.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RKLB. Morgan Stanley raised Rocket Lab from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $67.00 to $105.00 in a report on Friday, January 16th. The Goldman Sachs Group upped their price objective on Rocket Lab from $47.00 to $69.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 20th. Wall Street Zen upgraded Rocket Lab from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Needham & Company LLC upped their price target on shares of Rocket Lab from $63.00 to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Rocket Lab in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rocket Lab currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.92.

Insider Activity at Rocket Lab

In other news, Director Merline Saintil sold 96,000 shares of the company's stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $86.58, for a total value of $8,311,680.00. Following the completion of the sale, the director owned 292,529 shares in the company, valued at $25,327,160.82. This represents a 24.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Peter Beck sold 1,560,254 shares of Rocket Lab stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $57.47, for a total value of $89,667,797.38. Following the transaction, the chief executive officer directly owned 939,746 shares in the company, valued at approximately $54,007,202.62. The trade was a 62.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 4,306,150 shares of company stock worth $271,865,732 in the last quarter. Company insiders own 11.90% of the company's stock.

Rocket Lab Trading Up 2.9%

Rocket Lab stock opened at $76.58 on Friday. Rocket Lab Corporation has a 12-month low of $14.71 and a 12-month high of $99.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The stock has a market capitalization of $40.91 billion, a PE ratio of -201.53 and a beta of 2.16. The firm has a 50 day simple moving average of $76.79 and a 200-day simple moving average of $59.92.

Rocket Lab Company Profile

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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