SG Americas Securities LLC Sells 316,736 Shares of Rocket Lab Corporation $RKLB

SG Americas Securities LLC trimmed its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 64.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,872 shares of the rocket manufacturer’s stock after selling 316,736 shares during the period. SG Americas Securities LLC’s holdings in Rocket Lab were worth $11,038,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RKLB. Swedbank AB boosted its stake in shares of Rocket Lab by 8.2% during the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock worth $35,525,000 after acquiring an additional 38,770 shares in the last quarter. Firsthand Capital Management Inc. lifted its holdings in Rocket Lab by 40.0% in the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock worth $3,354,000 after purchasing an additional 20,000 shares during the last quarter. Swiss National Bank lifted its holdings in Rocket Lab by 67.7% in the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock worth $59,582,000 after purchasing an additional 501,830 shares during the last quarter. Vanguard Group Inc. boosted its position in Rocket Lab by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after purchasing an additional 5,610,469 shares during the period. Finally, Westfield Capital Management Co. LP boosted its position in Rocket Lab by 6.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer’s stock worth $180,849,000 after purchasing an additional 154,623 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insider Activity at Rocket Lab

In related news, insider Frank Klein sold 44,390 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total value of $6,328,682.30. Following the completion of the sale, the insider owned 1,043,847 shares in the company, valued at approximately $148,821,266.79. This trade represents a 4.08% 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. 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, CFO Adam C. Spice sold 62,744 shares of Rocket Lab stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $8,945,412.08. Following the sale, the chief financial officer directly owned 983,049 shares in the company, valued at approximately $140,153,295.93. This trade represents a 6.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders have sold 573,515 shares of company stock worth $76,412,122. 8.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RKLB shares. TD Cowen boosted their price objective on shares of Rocket Lab from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. KeyCorp upgraded 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 research note on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Citizens Jmp upped their price target on shares of Rocket Lab from $85.00 to $95.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.76.

Key Rocket Lab News

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

• Positive Sentiment: NASA chose Rocket Lab for three dedicated Electron launches supporting the PolSIR and TSIS-2 missions, a meaningful endorsement of Electron’s reliability and the company’s position in government launch services. NASA Selects Rocket Lab to Launch Sun, Earth Sciences Missions
• Positive Sentiment: Rocket Lab completed its 10th consecutive successful Electron launch for Synspective, extending its streak of 100% mission success and reinforcing operational momentum. Rocket Lab Completes 10th Consecutive Launch with 100% Mission Success for Synspective
• Positive Sentiment: The company’s expanding backlog, rising government work, and record Q1 revenue growth continue to support the long-term investment case. Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
• Neutral Sentiment: Analysts remain generally constructive, but some note the stock still looks expensive after a strong run and recent volatility. Rocket Lab Just Shattered This Space Force Record: Does That Make The Stock a Buy?
• Negative Sentiment: The stock had been under pressure before the latest news, with traders watching whether the recent rally can hold after a sharp pullback from its highs. Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback

Rocket Lab Trading Up 4.8%

Shares of Rocket Lab stock opened at $84.54 on Friday. The company’s fifty day simple moving average is $107.48 and its 200-day simple moving average is $84.85. The company has a market cap of $48.93 billion, a price-to-earnings ratio of -264.19 and a beta of 2.49. 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 1 year low of $33.73 and a 1 year high of $151.00.

Rocket Lab (NASDAQ:RKLB) last announced its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The business had revenue of $200.35 million for the quarter, compared to analyst estimates of $189.65 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Rocket Lab’s revenue was up 63.4% compared to the same quarter last year. As a group, sell-side analysts expect that Rocket Lab Corporation will post -0.29 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.