Rocket Lab Corporation $RKLB Holdings Decreased by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 1.6% in the second quarter, HoldingsChannel reports. The fund owned 100,301 shares of the rocket manufacturer’s stock after selling 1,649 shares during the quarter. Wealthfront Advisers LLC’s holdings in Rocket Lab were worth $3,588,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Rocket Lab by 10.6% in the first quarter. Vanguard Group Inc. now owns 40,029,546 shares of the rocket manufacturer’s stock worth $715,728,000 after purchasing an additional 3,833,969 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Rocket Lab in the 2nd quarter valued at approximately $192,918,000. Invesco Ltd. increased its stake in Rocket Lab by 56.1% in the 1st quarter. Invesco Ltd. now owns 3,738,250 shares of the rocket manufacturer’s stock valued at $66,840,000 after buying an additional 1,343,518 shares during the period. Westfield Capital Management Co. LP grew its holdings in shares of Rocket Lab by 2.6% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,586,532 shares of the rocket manufacturer’s stock valued at $46,247,000 after acquiring an additional 65,255 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Rocket Lab by 6.4% during the 1st quarter. Royal Bank of Canada now owns 2,128,536 shares of the rocket manufacturer’s stock valued at $38,057,000 after acquiring an additional 128,907 shares in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Rocket Lab from $34.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Craig Hallum assumed coverage on Rocket Lab in a research note on Monday, July 28th. They set a “hold” rating and a $51.00 price target for the company. Cantor Fitzgerald raised their price target on Rocket Lab from $35.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. KeyCorp increased their price objective on Rocket Lab from $50.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, Citigroup reissued a “buy” rating and issued a $50.00 target price (up from $33.00) on shares of Rocket Lab in a research report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Insiders Place Their Bets

In related news, SVP Arjun Kampani sold 9,416 shares of Rocket Lab stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $47.70, for a total value of $449,143.20. Following the transaction, the senior vice president owned 489,629 shares in the company, valued at $23,355,303.30. This trade represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank Klein sold 4,286 shares of Rocket Lab stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $47.72, for a total transaction of $204,527.92. Following the completion of the transaction, the insider owned 1,316,005 shares in the company, valued at $62,799,758.60. This trade represents a 0.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,406,361 shares of company stock valued at $267,483,973 in the last three months. Company insiders own 11.90% of the company’s stock.

Rocket Lab Stock Performance

Shares of NASDAQ RKLB opened at $66.16 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.67. The firm has a market cap of $32.02 billion, a price-to-earnings ratio of -147.02 and a beta of 2.14. The business’s 50-day simple moving average is $54.12 and its 200-day simple moving average is $40.12. Rocket Lab Corporation has a 52 week low of $10.29 and a 52 week high of $73.97.

Rocket Lab (NASDAQ:RKLB) last announced its earnings results on Thursday, August 7th. The rocket manufacturer reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The company had revenue of $144.50 million for the quarter, compared to the consensus estimate of $135.42 million. Rocket Lab had a negative return on equity of 48.14% and a negative net margin of 45.87%.The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. Rocket Lab has set its Q3 2025 guidance at EPS. As a group, equities research analysts expect that Rocket Lab Corporation will post -0.38 earnings per share for the current fiscal year.

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.