Universal Beteiligungs und Servicegesellschaft mbH Sells 121,428 Shares of Rocket Lab Corporation (NASDAQ:RKLB)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has reduced its holdings in Rocket Lab Corporation by 74.8%, leaving them with 40,866 shares worth $731,000.
• Rocket Lab reported a quarterly loss of ($0.12) EPS, missing analysts' expectations, but revenue increased by 32.1% Year-over-Year to $122.57 million.
• Currently, 71.78% of Rocket Lab's stock is owned by institutional investors, highlighting strong institutional interest in the company.

Universal Beteiligungs und Servicegesellschaft mbH reduced its position in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 74.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,866 shares of the rocket manufacturer's stock after selling 121,428 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Rocket Lab were worth $731,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Rocket Lab by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock valued at $211,084,000 after buying an additional 32,658 shares during the last quarter. FMR LLC increased its holdings in Rocket Lab by 30,853.3% during the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after purchasing an additional 3,684,195 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Rocket Lab by 9.5% during the fourth quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock valued at $82,207,000 after acquiring an additional 281,339 shares during the period. Two Sigma Advisers LP bought a new position in shares of Rocket Lab in the 4th quarter worth $72,623,000. Finally, Invesco Ltd. lifted its holdings in Rocket Lab by 41.1% during the fourth quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer's stock worth $60,994,000 after acquiring an additional 697,574 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB traded up $0.21 during trading on Tuesday, hitting $44.75. The stock had a trading volume of 10,863,268 shares, compared to its average volume of 19,940,607. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of -111.88 and a beta of 2.17. The stock has a 50-day simple moving average of $36.23 and a two-hundred day simple moving average of $27.38. The company has a quick ratio of 1.72, a current ratio of 2.08 and a debt-to-equity ratio of 0.97. Rocket Lab Corporation has a 12-month low of $4.55 and a 12-month high of $53.44.

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

Insider Transactions at Rocket Lab

In other Rocket Lab news, insider Arjun Kampani sold 5,194 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $30.00, for a total value of $155,820.00. Following the transaction, the insider owned 530,230 shares of the company's stock, valued at approximately $15,906,900. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Ocko sold 820,000 shares of Rocket Lab stock in a transaction on Friday, June 13th. The shares were sold at an average price of $26.01, for a total value of $21,328,200.00. Following the transaction, the director owned 1,083,053 shares in the company, valued at $28,170,208.53. This represents a 43.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,130,995 shares of company stock valued at $29,686,039. Corporate insiders own 13.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RKLB. Roth Capital lifted their price target on Rocket Lab from $25.00 to $35.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. KeyCorp increased their price objective on shares of Rocket Lab from $29.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group initiated coverage on Rocket Lab in a research note on Monday, June 30th. They issued a "neutral" rating and a $27.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $35.00 target price on shares of Rocket Lab in a report on Monday, July 14th. Finally, Bank of America raised their price target on Rocket Lab from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $37.55.

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.