Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 44,416 Shares of Rocket Lab Corporation $RKLB

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 44.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 144,616 shares of the rocket manufacturer’s stock after purchasing an additional 44,416 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Rocket Lab were worth $9,287,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RKLB. Aventura Private Wealth LLC acquired a new position in Rocket Lab during the 4th quarter worth $25,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Rocket Lab in the 4th quarter valued at $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of Rocket Lab in the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC raised its position in shares of Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after acquiring an additional 416 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in shares of Rocket Lab during the fourth quarter worth $29,000. Institutional investors own 71.78% of the company’s stock.

Key Headlines Impacting Rocket Lab

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. KeyCorp upgraded Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 price target on the stock in a report on Monday, June 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $96.00 price objective on shares of Rocket Lab in a research report on Tuesday, June 30th. New Street Research started coverage on shares of Rocket Lab in a research report on Wednesday, May 13th. They set a “buy” rating and a $150.00 target price on the stock. KGI Securities assumed coverage on shares of Rocket Lab in a research note on Thursday, June 11th. They issued a “neutral” rating and a $105.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.24.

Get Our Latest Research Report on RKLB

Insider Buying and Selling

In related news, Director Alexander R. Slusky sold 100,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $118.08, for a total value of $11,808,000.00. Following the sale, the director directly owned 434,675 shares in the company, valued at $51,326,424. This trade represents a 18.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Frank Klein sold 44,390 shares of Rocket Lab stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $142.57, for a total transaction of $6,328,682.30. Following the transaction, the insider directly owned 1,043,847 shares in the company, valued at $148,821,266.79. The trade was a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 573,515 shares of company stock valued at $76,412,122 over the last 90 days. 8.40% of the stock is owned by corporate insiders.

Rocket Lab Price Performance

NASDAQ:RKLB opened at $100.46 on Friday. Rocket Lab Corporation has a 12-month low of $35.25 and a 12-month high of $151.00. The company has a quick ratio of 4.02, a current ratio of 4.47 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $58.14 billion, a P/E ratio of -313.94 and a beta of 2.54. The stock’s fifty day simple moving average is $108.81 and its 200-day simple moving average is $86.34.

Rocket Lab (NASDAQ:RKLBGet Free Report) last announced its quarterly earnings data on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The business had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was up 63.4% compared to the same quarter last year. Equities research analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current year.

Rocket Lab Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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