Rocket Lab (NASDAQ:RKLB) SVP Sells $9,502,240.00 in Stock

Key Points

• Rocket Lab SVP Arjun Kampani sold 88,000 shares on June 18 at an average price of $107.98, totaling about $9.5 million. After the sale, he still owned 264,705 shares, a 24.95% reduction in his stake.
• The company’s stock traded down to $107.24 on heavy volume, while Rocket Lab’s market cap stood at $62.07 billion and shares remained well above their 200-day average. The stock has ranged from a 52-week low of $27.84 to a high of $151.00.
• Despite the insider selling, Rocket Lab recently reported 63.4% year-over-year revenue growth and beat revenue estimates in its latest quarter. The article also notes positive catalysts such as its addition to the Nasdaq-100 and a strong backlog, though valuation concerns and profit-taking have pressured the shares.

Rocket Lab Corporation (NASDAQ:RKLB - Get Free Report) SVP Arjun Kampani sold 88,000 shares of Rocket Lab stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $107.98, for a total value of $9,502,240.00. Following the sale, the senior vice president directly owned 264,705 shares in the company, valued at approximately $28,582,845.90. This trade represents a 24.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Arjun Kampani also recently made the following trade(s):

• On Thursday, May 28th, Arjun Kampani sold 23,804 shares of Rocket Lab stock. The shares were sold at an average price of $147.43, for a total value of $3,509,423.72.
• On Wednesday, May 27th, Arjun Kampani sold 70,000 shares of Rocket Lab stock. The stock was sold at an average price of $145.13, for a total value of $10,159,100.00.
• On Tuesday, May 26th, Arjun Kampani sold 28,668 shares of Rocket Lab stock. The stock was sold at an average price of $142.57, for a total value of $4,087,196.76.

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB traded down $0.74 during trading on Thursday, hitting $107.24. 70,237,347 shares of the stock were exchanged, compared to its average volume of 24,805,969. The company has a market capitalization of $62.07 billion, a price-to-earnings ratio of -335.12 and a beta of 2.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. Rocket Lab Corporation has a 1-year low of $27.84 and a 1-year high of $151.00. The company's fifty day simple moving average is $104.00 and its 200-day simple moving average is $82.68.

Rocket Lab (NASDAQ:RKLB - Get Free Report) last issued its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, meeting analysts' consensus estimates of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. During the same period in the prior year, the company posted ($0.12) earnings per share. Rocket Lab's revenue was up 63.4% on a year-over-year basis. Sell-side analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

More Rocket Lab News

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

• Positive Sentiment: Rocket Lab was added to the Nasdaq-100, a move that could force passive index funds and ETFs to buy shares and boost demand. Rocket Lab (RKLB) to Join Nasdaq-100 Index on June 22
• Positive Sentiment: The company’s latest operating results remain strong, with record quarterly revenue and a $2.2 billion backlog, supporting the long-term growth story for Rocket Lab. Rocket Lab: The End Of The SpaceX Proxy
• Positive Sentiment: Rocket Lab also cleared a key Space Development Agency review, reinforcing confidence in its defense and government programs. RKLB Stock Jumps Overnight: Retail Unfazed By Launch Delay Of Rocket Lab's 90th Electron Mission
• Neutral Sentiment: Analyst commentary has been mixed, with some firms still highlighting Rocket Lab’s backlog, vertical integration and defense exposure, while others have downgraded the stock after the big rally. RKLB vs. ASTS: Analysts Say One Space Stock Looks Stronger Near-Term
• Negative Sentiment: The main reason for the stock’s decline is profit-taking after an outsized rally, with investors rotating out following the recent surge in RKLB shares. Rocket Lab (RKLB) Stock Has Plunged 30% from Highs, Here’s Why
• Negative Sentiment: Some market commentary argues the stock is still expensive on valuation despite the strong fundamentals, which may be limiting upside near term. Jim Cramer on Rocket Lab

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. KGI Securities started coverage on shares of Rocket Lab in a research report on Thursday, June 11th. They issued a "neutral" rating and a $105.00 price target for the company. BTIG Research reiterated a "hold" rating on shares of Rocket Lab in a research report on Tuesday, May 12th. Stifel Nicolaus set a $132.00 target price on shares of Rocket Lab in a research note on Thursday, June 4th. KeyCorp raised shares of Rocket Lab from a "sector weight" rating to an "overweight" rating and set a $135.00 target price on the stock in a report on Monday. Finally, New Street Research started coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They set a "buy" rating and a $150.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.76.

Hedge Funds Weigh In On Rocket Lab

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock valued at $3,308,033,000 after buying an additional 5,610,469 shares in the last quarter. Baillie Gifford & Co. increased its position in Rocket Lab by 47.2% in the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer's stock valued at $1,245,317,000 after acquiring an additional 5,725,536 shares in the last quarter. Capital World Investors raised its stake in shares of Rocket Lab by 12.0% in the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer's stock worth $1,130,172,000 after acquiring an additional 1,738,623 shares during the last quarter. State Street Corp lifted its position in shares of Rocket Lab by 1.0% during the fourth quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer's stock worth $873,411,000 after purchasing an additional 120,652 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Rocket Lab by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer's stock valued at $626,605,000 after purchasing an additional 825,158 shares during the last quarter. Institutional investors own 71.78% of the company's stock.

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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