Assetmark Inc. Grows Stock Position in Rocket Lab Corporation $RKLB

Assetmark Inc. increased its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 673.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,562 shares of the rocket manufacturer’s stock after acquiring an additional 88,435 shares during the quarter. Assetmark Inc.’s holdings in Rocket Lab were worth $6,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of RKLB. Vanguard Group Inc. increased its position in Rocket Lab by 13.4% during 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. Baillie Gifford & Co. grew its stake in Rocket Lab by 47.2% in 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 during the period. Capital World Investors grew its stake in Rocket Lab by 12.0% in the fourth quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after purchasing an additional 1,738,623 shares during the period. State Street Corp raised its holdings in Rocket Lab by 1.0% in the fourth 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 in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Rocket Lab by 10.1% in the fourth 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 in the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab Price Performance

NASDAQ RKLB opened at $69.12 on Wednesday. The stock has a market capitalization of $40.00 billion, a price-to-earnings ratio of -216.00 and a beta of 2.54. Rocket Lab Corporation has a 1-year low of $37.57 and a 1-year 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 business’s fifty day moving average price is $105.97 and its 200-day moving average price is $87.24.

Rocket Lab (NASDAQ:RKLB) last issued its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share for the quarter, hitting 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 firm had revenue of $200.35 million for the quarter, compared to analysts’ expectations of $189.65 million. During the same quarter in the prior year, the business earned ($0.12) EPS. The business’s quarterly revenue was up 63.4% on a year-over-year basis. On average, equities analysts predict that Rocket Lab Corporation will post -0.26 earnings per share for the current year.

Trending Headlines about Rocket Lab

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

• Positive Sentiment: Rocket Lab won a $266 million defense contract for suborbital launch work, a sizable win that could strengthen revenue visibility and support the stock. Rocket Lab Stock Rises After the Bell: Here’s Why
• Positive Sentiment: Space stocks, including Rocket Lab, rallied as investors rotated back into the sector on a more risk-on trading day. AST SpaceMobile Catapults 12%, SpaceX Rises 7%, Virgin Galactic and Rocket Lab Rally as Space Stock Trade Takes a Risk-on Turn
• Neutral Sentiment: Some investor attention remains focused on Rocket Lab’s Neutron rocket timeline, with commentary suggesting the stock could face longer-term pressure if development slips further. Rocket Lab CEO Peter Beck Says Watch the Test Stands. Here’s Why the Neutron Timeline Means Everything for Investors.
• Negative Sentiment: The stock had been under pressure recently, with recent articles noting a sharp pullback and investor debate over whether the decline is a buying opportunity or a warning sign. Rocket Lab Corporation (RKLB) Declines More Than Market: Some Information for Investors

Insider Activity at Rocket Lab

In other news, insider Frank Klein sold 44,390 shares of Rocket Lab stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total value of $6,328,682.30. Following the sale, the insider directly owned 1,043,847 shares of the company’s stock, valued at approximately $148,821,266.79. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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, SVP Arjun Kampani sold 88,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the completion of the transaction, the senior vice president directly owned 264,705 shares of the company’s stock, valued at approximately $28,582,845.90. The trade was a 24.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,849,294 shares of company stock valued at $362,816,208 in the last ninety days. Corporate insiders own 8.40% of the company’s stock.

Analyst Ratings Changes

RKLB has been the subject of a number of recent research reports. Craig Hallum lifted their price target on shares of Rocket Lab from $98.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Piper Sandler began coverage on shares of Rocket Lab in a report on Wednesday, July 15th. They issued a “neutral” rating and a $83.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, July 8th. New Street Research started coverage on shares of Rocket Lab in a report on Wednesday, May 13th. They set a “buy” rating and a $150.00 target price for the company. Finally, Roth Capital boosted their price target on Rocket Lab from $100.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus price target of $110.18.

About Rocket Lab

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.