Rocket Lab Corporation $RKLB Stake Lessened by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 73.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,313 shares of the rocket manufacturer’s stock after selling 9,027 shares during the quarter. International Assets Investment Management LLC’s holdings in Rocket Lab were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RKLB. Baillie Gifford & Co. increased its stake in shares of Rocket Lab by 176.1% in the third quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after buying an additional 7,734,788 shares during the last quarter. 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 worth $3,308,033,000 after buying an additional 5,610,469 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Rocket Lab by 818.8% in the third quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock worth $104,929,000 after purchasing an additional 1,951,755 shares during the period. Amundi boosted its holdings in Rocket Lab by 308.4% in the third quarter. Amundi now owns 2,301,568 shares of the rocket manufacturer’s stock worth $110,268,000 after purchasing an additional 1,738,038 shares during the period. Finally, State Street Corp boosted its holdings in Rocket Lab by 13.6% in the third quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer’s stock worth $594,063,000 after purchasing an additional 1,487,237 shares during the period. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling at Rocket Lab

In related news, Director Merline Saintil sold 18,126 shares of Rocket Lab stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.04, for a total transaction of $1,360,175.04. Following the sale, the director directly owned 261,903 shares in the company, valued at $19,653,201.12. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Arjun Kampani sold 23,711 shares of Rocket Lab stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total transaction of $1,706,006.45. Following the sale, the senior vice president owned 397,988 shares in the company, valued at approximately $28,635,236.60. This represents a 5.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 233,449 shares of company stock valued at $16,487,233. 8.40% of the stock is currently owned by insiders.

Rocket Lab News Roundup

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

• Positive Sentiment: Rocket Lab’s strong Q1 results and raised outlook are still driving buying interest, as the company beat revenue expectations and issued guidance that came in well above forecasts. Rocket Lab (RKLB) Stock Trades Up, Here Is Why
• Positive Sentiment: Needham’s higher price target and upbeat analyst commentary added to the momentum, signaling Wall Street sees more upside after the earnings beat. Why Is Rocket Lab Stock Surging On Wednesday?
• Positive Sentiment: Investors are also betting on Rocket Lab’s Neutron launch later this year, which could expand the company’s role in the medium-lift rocket market and broaden its revenue opportunity. Rocket Lab Stock Is Getting a Major Lift. Investors Are Betting on Its Neutron Launch Later This Year.
• Positive Sentiment: New business wins and strategic work with defense partner Anduril on hypersonics support the view that Rocket Lab’s technology is gaining broader commercial and defense traction. Anduril Hires Rocket Lab to Help It With Hypersonics
• Neutral Sentiment: Broader space-sector enthusiasm, including chatter around a potential SpaceX IPO and orbital data-center projects, has lifted the group and helped keep RKLB in focus. Space Stocks Jump As SpaceX, Google Explore Orbital Data Center Deal
• Negative Sentiment: After the sharp run-up, some articles are questioning valuation and whether investors should take profits, while noting execution risks around Neutron development and supply-chain constraints. Rocket Lab Stock Advances 74% in 3 Months: Time to Take Profits?

Rocket Lab Stock Performance

Shares of RKLB opened at $124.15 on Thursday. Rocket Lab Corporation has a 1 year low of $21.86 and a 1 year high of $127.24. The company has a market cap of $70.69 billion, a price-to-earnings ratio of -387.97 and a beta of 2.30. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. The firm has a fifty day moving average of $76.51 and a 200-day moving average of $69.96.

Rocket Lab (NASDAQ:RKLB) last announced its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The company had revenue of $200.35 million during the quarter, compared to the consensus estimate of $189.65 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 63.4% compared to the same quarter last year. As a group, equities analysts anticipate that Rocket Lab Corporation will post -0.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on RKLB shares. Wells Fargo & Company started coverage on shares of Rocket Lab in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price objective for the company. Needham & Company LLC lifted their price objective on shares of Rocket Lab from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Monday. Roth Mkm lifted their price objective on shares of Rocket Lab from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, April 17th. New Street Research started coverage on shares of Rocket Lab in a report on Wednesday. They issued a “buy” rating for the company. Finally, Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.67.

Rocket Lab 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.