Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in Rocket Lab Corporation $RKLB

Sumitomo Mitsui Trust Group Inc. raised its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 12.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,517,301 shares of the rocket manufacturer’s stock after purchasing an additional 163,778 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Rocket Lab worth $97,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew 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 valued at $3,308,033,000 after buying an additional 5,610,469 shares during the period. Baillie Gifford & Co. grew its position in shares of Rocket Lab by 47.2% during the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock valued at $1,245,317,000 after acquiring an additional 5,725,536 shares during the period. Capital World Investors grew its position in shares of Rocket Lab by 12.0% during the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock valued at $1,130,172,000 after acquiring an additional 1,738,623 shares during the period. State Street Corp increased its stake in shares of Rocket Lab by 1.0% during the 4th quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer’s stock worth $873,411,000 after purchasing an additional 120,652 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Rocket Lab by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer’s stock worth $626,605,000 after purchasing an additional 825,158 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rocket Lab

In other Rocket Lab news, Director Alexander R. Slusky sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $123.60, for a total value of $4,944,000.00. Following the completion of the transaction, the director owned 334,675 shares in the company, valued at $41,365,830. This trade represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frank Klein sold 36,860 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $147.42, for a total value of $5,433,901.20. Following the sale, the insider owned 1,006,987 shares in the company, valued at approximately $148,450,023.54. This represents a 3.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,849,294 shares of company stock worth $362,816,208 in the last three months. 8.40% of the stock is currently owned by corporate insiders.

Rocket Lab Stock Performance

RKLB stock traded down $1.51 during midday trading on Friday, reaching $81.04. 14,504,331 shares of the company’s stock traded hands, compared to its average volume of 28,038,464. The company has a 50-day moving average price of $109.24 and a two-hundred day moving average price of $87.24. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47. Rocket Lab Corporation has a 52 week low of $37.57 and a 52 week high of $151.00. The firm has a market capitalization of $46.90 billion, a PE ratio of -253.25 and a beta of 2.54.

Rocket Lab (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The firm had revenue of $200.35 million during the quarter, compared to analyst estimates of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. As a group, equities analysts anticipate that Rocket Lab Corporation will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. BTIG Research reiterated a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. TD Cowen boosted their target price on Rocket Lab from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Bank of America upped their price target on Rocket Lab from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. KGI Securities initiated coverage on Rocket Lab in a research note on Thursday, June 11th. They set a “neutral” rating and a $105.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $108.24.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Rocket Lab continues to attract bullish analyst attention, with Morgan Stanley highlighting the company as a potential “Player 2” in the space race and boosting its bull-case valuation significantly. Analysts argue RKLB is gaining credibility as a capable alternative to SpaceX, supported by launch execution and expansion into satellite connectivity. Article: Why Morgan Stanley thinks Rocket Lab is becoming ‘Player 2’
• Positive Sentiment: Recent commentary also points to operational strength, including a record-fast Space Force mission and a strong revenue trend, reinforcing the view that Rocket Lab is executing well ahead of its next earnings report. Article: Rocket Lab’s Stock Drop Comes With a Bullish Twist
• Neutral Sentiment: Wall Street still broadly rates Rocket Lab as a “Moderate Buy,” suggesting analysts remain constructive on the long-term story even after the stock’s pullback. Article: Rocket Lab Corporation (NASDAQ:RKLB) Given Average Recommendation of “Moderate Buy” by Brokerages
• Negative Sentiment: Heavy insider selling by CEO Peter Beck has weighed on sentiment, with multiple large planned share sales disclosed over the past few days. Even though the sales were made under a 10b5-1 plan, investors often view this as a near-term caution signal. Article: Insider Selling: Rocket Lab (NASDAQ:RKLB) CEO Sells 990,960 Shares of Stock
• Negative Sentiment: The stock is also being hit by a broader selloff in high-beta space names, as some traders question whether the rally had run ahead of fundamentals. Article: Rocket Lab Stock Falls Tuesday: What’s Driving the Weakness?

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.