Rocket Companies, Inc. $RKT Shares Purchased by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG boosted its position in Rocket Companies, Inc. (NYSE:RKT) by 765.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,465 shares of the company’s stock after buying an additional 305,555 shares during the period. J. Safra Sarasin Holding AG’s holdings in Rocket Companies were worth $6,688,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RKT. Royal Bank of Canada lifted its stake in shares of Rocket Companies by 48.9% in the 1st quarter. Royal Bank of Canada now owns 69,641 shares of the company’s stock worth $841,000 after acquiring an additional 22,861 shares during the period. Amundi raised its holdings in Rocket Companies by 3.1% during the first quarter. Amundi now owns 33,416 shares of the company’s stock worth $403,000 after purchasing an additional 997 shares in the last quarter. AQR Capital Management LLC raised its holdings in Rocket Companies by 1,086.5% during the first quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock worth $4,734,000 after purchasing an additional 366,716 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Rocket Companies by 12.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock valued at $4,473,000 after purchasing an additional 40,326 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Rocket Companies by 18.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,890 shares of the company’s stock valued at $55,000 after purchasing an additional 605 shares during the period. 4.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Rocket Companies

In other Rocket Companies news, Director Matthew Rizik sold 2,500 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $22.99, for a total transaction of $57,475.00. Following the sale, the director directly owned 1,038,536 shares in the company, valued at approximately $23,875,942.64. The trade was a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 7,500 shares of company stock worth $167,575 over the last ninety days. Insiders own 92.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on RKT shares. Citizens Jmp started coverage on Rocket Companies in a research report on Wednesday, March 25th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. started coverage on Rocket Companies in a report on Monday, January 12th. They issued a “neutral” rating and a $24.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Rocket Companies in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised Rocket Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $20.00 to $22.00 in a report on Monday, March 16th. Finally, Wells Fargo & Company raised their target price on Rocket Companies from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.80.

Rocket Companies Trading Up 5.6%

Shares of Rocket Companies stock opened at $14.25 on Wednesday. Rocket Companies, Inc. has a 12-month low of $10.94 and a 12-month high of $24.36. The company has a current ratio of 70.90, a quick ratio of 70.90 and a debt-to-equity ratio of 1.07. The stock has a market cap of $40.17 billion, a PE ratio of -109.58 and a beta of 2.30. The company has a 50-day moving average of $17.25 and a two-hundred day moving average of $18.29.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.24 billion. Rocket Companies had a positive return on equity of 3.04% and a negative net margin of 1.02%.The company’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.04 EPS. On average, research analysts anticipate that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

About Rocket Companies

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.