Rocket Lab Corporation $RKLB Shares Sold by SCS Capital Management LLC

SCS Capital Management LLC lessened its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 42.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,690 shares of the rocket manufacturer’s stock after selling 4,255 shares during the period. SCS Capital Management LLC’s holdings in Rocket Lab were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake 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 in the last quarter. Baillie Gifford & Co. grew 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 buying an additional 5,725,536 shares in the last quarter. Capital World Investors increased its stake in shares of Rocket Lab by 9.4% in the third quarter. Capital World Investors now owns 14,462,103 shares of the rocket manufacturer’s stock worth $692,879,000 after buying an additional 1,242,547 shares during the last quarter. State Street Corp increased its stake in shares of Rocket Lab by 13.6% in the third quarter. State Street Corp now owns 12,399,571 shares of the rocket manufacturer’s stock worth $594,063,000 after buying an additional 1,487,237 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of 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 buying an additional 825,158 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Trending Headlines about Rocket Lab

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

• Negative Sentiment: RKLB is falling with the broader space group after weekend explosion news sparked renewed concern about launch risk and execution in the sector. Rocket Lab (RKLB) Loses 14.7% on Explosion News
• Negative Sentiment: Several insider sales were disclosed, including transactions by senior executives and a director, which can create near-term sentiment pressure even when sales are pre-planned. Rocket Lab (NASDAQ:RKLB) Insider Sells $513,345.00 in Stock
• Negative Sentiment: Commentary from multiple outlets says Rocket Lab may be vulnerable to a valuation reset as investors rotate away from high-flying space names ahead of the SpaceX IPO. Rocket Lab Stock Is Tumbling Today: What’s Happening?
• Neutral Sentiment: On the positive side, Rocket Lab continues to expand its Space Systems business, which now generates more revenue than Launch Services and supports the long-term growth case. How Is Rocket Lab Expanding Its Role Across Space Infrastructure?
• Neutral Sentiment: Analysts and market commentary still highlight Neutron, backlog growth, and Rocket Lab’s role in the broader commercial space buildout as longer-term catalysts. Will the SpaceX IPO Put These 5 Public Space Stocks Into a Higher Orbit?

Rocket Lab Trading Up 0.8%

Shares of NASDAQ RKLB opened at $123.32 on Wednesday. The company has a market cap of $71.37 billion, a price-to-earnings ratio of -385.38 and a beta of 2.49. Rocket Lab Corporation has a 12-month low of $25.24 and a 12-month high of $151.00. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $93.14 and its 200 day simple moving average is $76.94.

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, hitting the consensus estimate of ($0.07). The business had revenue of $200.35 million for the quarter, compared to the consensus estimate 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 was up 63.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. Equities research analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RKLB. BTIG Research restated a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Clear Str upgraded shares of Rocket Lab to a “strong-buy” rating in a research note on Wednesday, March 18th. Craig Hallum upgraded shares of Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Friday, May 8th. Wells Fargo & Company began coverage on shares of Rocket Lab in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $60.00 price target for the company. Finally, Citizens Jmp lifted their price target on shares of Rocket Lab from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.19.

Insiders Place Their Bets

In related news, SVP Arjun Kampani sold 23,804 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $147.43, for a total value of $3,509,423.72. Following the sale, the senior vice president owned 352,705 shares of the company’s stock, valued at approximately $51,999,298.15. This trade represents a 6.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander R. Slusky sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $149.40, for a total value of $8,964,000.00. Following the completion of the sale, the director directly owned 374,675 shares in the company, valued at approximately $55,976,445. This trade represents a 13.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 463,641 shares of company stock worth $63,326,057. 8.40% of the stock is currently owned by insiders.

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.