Rocket Lab (NASDAQ:RKLB) CEO Peter Beck Sells 986,197 Shares

Rocket Lab Corporation (NASDAQ:RKLB) CEO Peter Beck sold 986,197 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $95.33, for a total value of $94,014,160.01. Following the completion of the sale, the chief executive officer owned 4,013,803 shares in the company, valued at $382,635,839.99. This trade represents a 19.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Beck also recently made the following trade(s):

• On Wednesday, July 8th, Peter Beck sold 990,960 shares of Rocket Lab stock. The shares were sold at an average price of $82.86, for a total value of $82,110,945.60.
• On Tuesday, July 7th, Peter Beck sold 1,298,622 shares of Rocket Lab stock. The shares were sold at an average price of $84.92, for a total transaction of $110,278,980.24.

Rocket Lab Stock Down 0.1%

RKLB opened at $83.35 on Thursday. The firm’s 50-day simple moving average is $109.08 and its 200-day simple moving average is $87.19. 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 twelve month low of $37.57 and a twelve month high of $151.00. The firm has a market cap of $48.24 billion, a price-to-earnings ratio of -260.47 and a beta of 2.54.

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). The firm had revenue of $200.35 million during 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 firm’s quarterly revenue was up 63.4% on a year-over-year basis. During the same period last year, the firm posted ($0.12) EPS. Equities research analysts anticipate that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Lab

Institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its position in shares of Rocket Lab by 47.2% during the fourth quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after purchasing an additional 5,725,536 shares in the last quarter. Vanguard Group Inc. increased its holdings 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 valued at $3,308,033,000 after purchasing an additional 5,610,469 shares in the last quarter. Norges Bank bought a new position in Rocket Lab in the 4th quarter worth approximately $341,036,000. Alliancebernstein L.P. raised its position in Rocket Lab by 818.8% in the 3rd 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 last quarter. Finally, Capital World Investors lifted its holdings in Rocket Lab by 12.0% during the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after buying an additional 1,738,623 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

Rocket Lab News Roundup

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

• Positive Sentiment: Rocket Lab reported mission success for the U.S. Space Force’s VICTUS HAZE program, completing a record-fast responsive launch and complex on-orbit operations ahead of schedule. The result reinforces RKLB’s credibility in national security space and shows it can deliver integrated launch-plus-spacecraft services. Rocket Lab Delivers Mission Success for Space Force: Completes Historic Launch and On-Orbit Satellite Tracking Mission in Record Time
• Positive Sentiment: Several analysts have stayed bullish, with recent price targets around $115 to $135 and one bullish case as high as $293, reflecting confidence in Rocket Lab’s long-term growth story and contract backlog. Rocket Lab Bull-Case Target Set at $293 by Morgan Stanley
• Neutral Sentiment: Commentary around a possible $8 billion Iridium transaction suggests Rocket Lab is trying to become a broader space infrastructure platform, which could improve its strategic position but also raises execution and integration questions. Rocket Lab’s Mega Iridium Deal Kicks off Space Industry Consolidation
• Negative Sentiment: Rocket Lab has been swept up in a broader selloff across space stocks, with traders rotating out of high-beta names and questioning whether the recent rally got ahead of fundamentals. Rocket Lab Stock Falls Tuesday: What’s Driving the Weakness?
• Negative Sentiment: Investor sentiment is also being pressured by reports of heavy insider selling, including CEO Peter Beck’s planned stake reduction, which can signal caution around the stock’s near-term valuation. Rocket Lab (RKLB) Falls Hard — Its CEO May Hold the Answer

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RKLB. KeyCorp upgraded shares of Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 target price for the company in a research note on Monday, June 15th. Morgan Stanley restated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Rocket Lab from $73.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Clear Str upgraded Rocket Lab to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Rocket Lab in a research note on Tuesday, June 30th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Rocket Lab has a consensus rating of “Moderate Buy” and a consensus price target of $108.24.

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.