Swiss National Bank Acquires 212,700 Shares of Rocket Lab Corporation $RKLB

Key Points

• Swiss National Bank boosted its Rocket Lab stake by 17.8% in the first quarter, buying 212,700 additional shares and bringing its total holding to 1.41 million shares valued at about $90.6 million.
• Insiders have been selling shares, including recent sales by Frank Klein and Arjun Kampani, and the article notes that insiders sold 3.85 million shares worth $362.8 million over the past 90 days.
• Analysts remain generally positive on RKLB, with a consensus rating of “Moderate Buy” and an average price target of $110.18, even as the stock has been weak recently and was down 2.8% in the latest session.

Swiss National Bank raised its holdings in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 17.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,410,930 shares of the rocket manufacturer's stock after purchasing an additional 212,700 shares during the period. Swiss National Bank owned approximately 0.25% of Rocket Lab worth $90,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aventura Private Wealth LLC acquired a new stake in Rocket Lab during the fourth quarter worth about $25,000. Mcguire Capital Advisors Inc. bought a new position in Rocket Lab in the 4th quarter valued at about $27,000. Zions Bancorporation National Association UT acquired a new position in shares of Rocket Lab in the 4th quarter valued at approximately $28,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Rocket Lab in the 4th quarter valued at approximately $29,000. Finally, Reflection Asset Management bought a new stake in shares of Rocket Lab during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 71.78% of the company's stock.

Insider Activity at Rocket Lab

In other Rocket Lab news, insider Frank Klein sold 44,390 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $6,328,682.30. Following the transaction, the insider owned 1,043,847 shares in the company, valued at approximately $148,821,266.79. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Arjun Kampani sold 88,000 shares of the firm's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the completion of the transaction, the senior vice president directly owned 264,705 shares in the company, valued at $28,582,845.90. This trade represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 3,849,294 shares of company stock worth $362,816,208. 8.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RKLB shares. Citizens Jmp raised their target price on Rocket Lab from $95.00 to $130.00 and gave the company a "market outperform" rating in a report on Tuesday, June 30th. Wells Fargo & Company began coverage on Rocket Lab in a research report on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 price objective for the company. Craig Hallum raised their price objective on Rocket Lab from $98.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, June 29th. TD Cowen lifted their target price on Rocket Lab from $90.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $120.00 target price on shares of Rocket Lab in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $110.18.

Key Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

• Neutral Sentiment: Recent articles highlight that RKLB has been falling quickly, with traders and retail investors debating whether the stock is now oversold or still has further downside. Should You Buy Rocket Lab Stock Below $70?
• Neutral Sentiment: Despite the selloff, some retail investors remain bullish on Rocket Lab, arguing that a future catalyst could help the stock recover if execution improves. Reddit Still Believes in Rocket Lab Even as Shares Slide: Inside the Retail Sentiment
• Neutral Sentiment: One article noted Rocket Lab’s shares have declined more than the broader market in the latest session, underscoring the recent weak momentum in the name. Rocket Lab Corporation (RKLB) Declines More Than Market: Some Information for Investors
• Neutral Sentiment: Coverage also points to Rocket Lab’s growing competition with SpaceX, with investors watching whether RKLB can establish itself as a stronger direct rival in the space launch market. Rocket Lab's Latest Deal Puts It on a Collision Course With SpaceX
• Negative Sentiment: Sentiment in one piece suggested that SpaceX-related market enthusiasm may be fading, which is spilling over into Rocket Lab and weighing on the stock. SpaceX’s IPO Shine Fades, Taking ASTS And RKLB With It — But There Are 2 Surprise Winners This Month

Rocket Lab Trading Down 2.8%

NASDAQ RKLB opened at $65.74 on Tuesday. The firm has a market capitalization of $38.05 billion, a PE ratio of -205.44 and a beta of 2.54. The business's 50-day moving average price is $106.94 and its two-hundred day moving average price is $87.24. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. Rocket Lab Corporation has a 12 month low of $37.57 and a 12 month high of $151.00.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. During the same quarter last year, the business earned ($0.12) EPS. The company's revenue was up 63.4% compared to the same quarter last year. On average, analysts expect that Rocket Lab Corporation will post -0.26 EPS for the current year.

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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