Sequoia Financial Advisors LLC increased its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB – Free Report) by 374.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,900 shares of the rocket manufacturer’s stock after buying an additional 48,057 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Rocket Lab were worth $6,190,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Swedbank AB grew its position in Rocket Lab by 8.2% in the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock worth $35,525,000 after purchasing an additional 38,770 shares in the last quarter. BlackRock Inc. purchased a new stake in Rocket Lab in the 2nd quarter valued at about $4,124,970,000. Katamaran Capital LLP lifted its position in shares of Rocket Lab by 86.2% during the 1st quarter. Katamaran Capital LLP now owns 19,808 shares of the rocket manufacturer’s stock worth $1,272,000 after buying an additional 9,172 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Rocket Lab by 6.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer’s stock worth $180,849,000 after buying an additional 154,623 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in shares of Rocket Lab in the 1st quarter worth approximately $642,000. 71.78% of the stock is owned by hedge funds and other institutional investors.
Trending Headlines about Rocket Lab
Here are the key news stories impacting Rocket Lab this week:
- Positive Sentiment: Successful Electron launch supports near-term momentum. Rocket Lab deployed a confidential customer’s Earth-observation satellite into a 500-kilometer orbit. The mission was the company’s 95th Electron launch overall and its 16th this year, highlighting a reliable launch cadence in a capacity-constrained market. Another commercial launch is planned before the end of September. Rocket Lab Successfully Launches 16th Electron Mission
- Positive Sentiment: Analysts see substantial upside potential. Raymond James identified two opportunities with significant upside, while multiple analysts maintain Strong Buy ratings and price targets well above the current trading level. The bullish case is supported by Rocket Lab’s record revenue, expanding backlog, and more than $1 billion in new contracts since the second quarter began. Why Raymond James Is Betting Big on Rocket Lab
- Neutral Sentiment: The investment case depends on Neutron. Commentary argues Rocket Lab’s established launch and space-systems operations could justify taking the risk on its reusable Neutron medium-lift rocket. The company’s core business is improving, but Neutron’s development schedule has not changed, leaving investors focused on execution and potential delays. Rocket Lab’s Core Business Makes the Neutron Gamble Worth Taking
- Negative Sentiment: Recent underperformance reflects company-specific concerns. RKLB declined sharply from mid-June through September 10 despite record revenue and new contracts, substantially underperforming major defense peers. The drop suggests investors remain concerned about Neutron execution, elevated expectations, and the stock’s high-risk valuation. What’s Behind the RKLB Drop?
- Negative Sentiment: Insider selling is a notable overhang. Reported activity showed 97 insider sales and no purchases over the past six months, including substantial sales by CEO Peter Beck and other executives. This may reinforce concerns about valuation even as operating metrics improve.
Insider Transactions at Rocket Lab
In related news, CAO Agostino Ricupati sold 669 shares of Rocket Lab stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $69.63, for a total value of $46,582.47. Following the completion of the sale, the chief accounting officer owned 26,863 shares of the company’s stock, valued at approximately $1,870,470.69. This trade represents a 2.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Frank Klein sold 35,558 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $66.61, for a total value of $2,368,518.38. Following the completion of the sale, the insider owned 925,737 shares in the company, valued at $61,663,341.57. This represents a 3.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,624,371 shares of company stock valued at $312,944,881. 8.40% of the stock is currently owned by insiders.
Rocket Lab Stock Up 1.6%
RKLB opened at $62.95 on Friday. Rocket Lab Corporation has a twelve month low of $37.57 and a twelve month high of $151.00. The company’s 50-day moving average price is $71.58 and its two-hundred day moving average price is $84.45. The stock has a market cap of $37.67 billion, a price-to-earnings ratio of -233.14 and a beta of 2.60. The company has a quick ratio of 4.98, a current ratio of 5.48 and a debt-to-equity ratio of 0.01.
Rocket Lab (NASDAQ:RKLB – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The rocket manufacturer reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). Rocket Lab had a negative return on equity of 6.48% and a negative net margin of 21.51%.The company had revenue of $234.07 million during the quarter, compared to the consensus estimate of $231.62 million. As a group, equities analysts expect that Rocket Lab Corporation will post -0.2 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Rocket Lab in a report on Tuesday, July 28th. Bank of America dropped their price target on Rocket Lab from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, August 31st. Stifel Nicolaus set a $132.00 price objective on Rocket Lab in a research report on Thursday, June 4th. Roth Capital set a $110.00 price objective on Rocket Lab in a research note on Tuesday, August 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, July 8th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $107.32.
Get Our Latest Research Report on Rocket Lab
Rocket Lab Profile
Rocket Lab USA, Inc is a space company that provides launch services and space systems for commercial, civil and national security customers. The company develops and operates launch vehicles, spacecraft and satellite components, with activities spanning the design, manufacture and operation of space hardware.
Rocket Lab’s Electron rocket is a small-lift orbital launch vehicle designed to deploy small satellites. The company also develops HASTE, a suborbital test vehicle based on Electron technology, and is developing Neutron, a larger reusable launch vehicle intended to support a broader range of missions.
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