Capital World Investors Has $1.13 Billion Position in Rocket Lab Corporation $RKLB

Capital World Investors increased its position in Rocket Lab Corporation (NASDAQ:RKLB) by 12.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,200,726 shares of the rocket manufacturer’s stock after acquiring an additional 1,738,623 shares during the period. Capital World Investors’ holdings in Rocket Lab were worth $1,130,172,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RKLB. AQR Capital Management LLC increased its holdings in Rocket Lab by 114.0% in the first quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after buying an additional 92,849 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Rocket Lab by 1,812.1% during the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after purchasing an additional 34,882 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Rocket Lab by 53.8% during the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after purchasing an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Rocket Lab by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock valued at $13,831,000 after purchasing an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in Rocket Lab by 1.0% during the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after purchasing an additional 681 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RKLB. Stifel Nicolaus set a $132.00 price target on Rocket Lab in a report on Thursday. TD Cowen increased their price target on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company began coverage on Rocket Lab in a report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price target on the stock. BTIG Research reiterated a “hold” rating on shares of Rocket Lab in a report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.88.

Key Rocket Lab News

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

• Positive Sentiment: Wall Street sentiment improved after Stifel raised its price target on Rocket Lab to a Street-high $132 from $110 and kept a Buy rating, reinforcing the view that growth can continue. Rocket Lab Stock (RKLB) Lands a New Street-High Target as Top Stifel Analyst Sees Stronger Growth Ahead
• Positive Sentiment: Recent coverage continues to highlight Rocket Lab’s strong operating momentum, including its first-ever $200 million revenue quarter, 63%+ year-over-year revenue growth, expanding gross margin, and a backlog that reached $2.2 billion. Rocket Lab: Don’t Hold Your Breath On Neutron
• Positive Sentiment: The broader space sector is getting a lift from SpaceX IPO excitement, and Rocket Lab is being viewed as a public-market way to play the space race, which has helped sentiment across RKLB and other space stocks. There’s More to Space Stocks Than SpaceX
• Neutral Sentiment: Some analysts and commentators are warning that the stock’s big rally may have outrun fundamentals, pointing to valuation risk and possible volatility if expectations become harder to beat. We’re Holding Rocket Lab Despite 356% Rally
• Negative Sentiment: Bearish pieces argue investors should be cautious ahead of a possible SpaceX IPO “reality check,” with concerns that competition and sky-high expectations could eventually pressure RKLB’s multiple. Rocket Lab: Sell Before The SpaceX IPO Reality Check

Rocket Lab Price Performance

RKLB opened at $110.08 on Monday. Rocket Lab Corporation has a fifty-two week low of $25.24 and a fifty-two week high of $151.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The firm’s fifty day moving average price is $97.02 and its two-hundred day moving average price is $78.94. The company has a market capitalization of $63.71 billion, a P/E ratio of -344.00 and a beta of 2.48.

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

Insiders Place Their Bets

In other Rocket Lab news, insider Marvin Bradford Clevenger sold 15,549 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $2,216,820.93. Following the completion of the sale, the insider directly owned 477,475 shares of the company’s stock, valued at approximately $68,073,610.75. The trade was a 3.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 the business’s 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 of the company’s stock, valued at $140,153,295.93. This 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. Insiders sold a total of 485,515 shares of company stock valued at $66,909,882 over the last three months. Company insiders own 8.40% of the company’s stock.

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.