Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 44,416 Shares of Rocket Lab Corporation $RKLB

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 44.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 144,616 shares of the rocket manufacturer’s stock after acquiring an additional 44,416 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Rocket Lab were worth $9,287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB lifted 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 valued at $35,525,000 after acquiring an additional 38,770 shares in the last quarter. Firsthand Capital Management Inc. increased its holdings in Rocket Lab by 40.0% during 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 in the last quarter. Swiss National Bank increased its holdings in Rocket Lab by 67.7% during 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Rocket Lab by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock valued at $3,308,033,000 after purchasing an additional 5,610,469 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake in shares of Rocket Lab by 6.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer’s stock valued at $180,849,000 after purchasing an additional 154,623 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of research reports. Stifel Nicolaus set a $132.00 price target on Rocket Lab in a report on Thursday, June 4th. TD Cowen lifted their target price on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lifted their target price on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Finally, BTIG Research reaffirmed a “hold” rating on shares of Rocket Lab in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.24.

View Our Latest Report on Rocket Lab

Insider Buying and Selling

In related news, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the completion of the transaction, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at approximately $140,153,295.93. This represents a 6.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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, Director Alexander R. Slusky sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total value of $11,808,000.00. Following the completion of the transaction, the director owned 434,675 shares of the company’s stock, valued at approximately $51,326,424. This represents a 18.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 573,515 shares of company stock valued at $76,412,122. 8.40% of the stock is currently owned by company insiders.

Rocket Lab News Roundup

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

Rocket Lab Stock Performance

Shares of NASDAQ:RKLB opened at $100.46 on Friday. The company’s 50-day moving average price is $108.81 and its two-hundred day moving average price is $86.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. Rocket Lab Corporation has a one year low of $35.25 and a one year high of $151.00. The stock has a market capitalization of $58.14 billion, a PE ratio of -313.94 and a beta of 2.54.

Rocket Lab (NASDAQ:RKLBGet Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.Rocket Lab’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS. On average, equities analysts forecast that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Rocket Lab Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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