Diversified Trust Co Invests $2.12 Million in Rocket Lab Corporation $RKLB

Diversified Trust Co purchased a new position in Rocket Lab Corporation (NASDAQ:RKLB) during the 1st quarter, Holdings Channel reports. The fund purchased 33,058 shares of the rocket manufacturer’s stock, valued at approximately $2,123,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB boosted its holdings in shares of Rocket Lab by 8.2% in the fourth quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock valued at $35,525,000 after purchasing an additional 38,770 shares during the period. Firsthand Capital Management Inc. increased its holdings in Rocket Lab by 40.0% during the 3rd quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer’s stock worth $3,354,000 after purchasing an additional 20,000 shares during the period. Swiss National Bank increased its holdings in Rocket Lab by 67.7% during the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock worth $59,582,000 after purchasing an additional 501,830 shares during the period. Vanguard Group Inc. raised 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 in the last quarter. Finally, Westfield Capital Management Co. LP raised its position in Rocket Lab by 6.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,592,443 shares of the rocket manufacturer’s stock valued at $180,849,000 after purchasing an additional 154,623 shares in the last quarter. Institutional investors own 71.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RKLB shares. New Street Research started coverage on Rocket Lab in a research report on Wednesday, May 13th. They set a “buy” rating and a $150.00 price target on the stock. Clear Str upgraded Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. Wells Fargo & Company initiated 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 objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, KeyCorp raised shares of Rocket Lab from a “sector weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research report on Monday, June 15th. Three research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.76.

Insider Buying and Selling

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $8,945,412.08. Following the completion of the sale, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at approximately $140,153,295.93. This represents a 6.00% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, insider Frank Klein sold 44,390 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $142.57, for a total transaction of $6,328,682.30. Following the completion of the sale, the insider owned 1,043,847 shares in the company, valued at $148,821,266.79. This represents a 4.08% decrease in their ownership of the stock. 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 573,515 shares of company stock worth $76,412,122 over the last ninety days. 8.40% of the stock is currently owned by company insiders.

Key Stories Impacting Rocket Lab

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

• Positive Sentiment: Rocket Lab is being added to the Nasdaq-100, a move that could bring steady institutional buying from passive funds and ETFs tracking the index. Why Rocket Lab’s Nasdaq-100 Moment Could Change the Story
• Positive Sentiment: The company passed a key SDA review, supporting the credibility of its space systems and defense business expansion. Rocket Lab (RKLB) Passes Key SDA Review As Nasdaq 100 Inclusion Reshapes Its Story
• Positive Sentiment: Recent commentary continues to highlight Rocket Lab’s strong fundamentals, including record quarterly revenue and a large backlog, which support the long-term growth narrative. Rocket Lab (RKLB) Stock Falls 30% Despite Record Q1 Results and Nasdaq-100 Entry
• Neutral Sentiment: Analyst and media commentary continues to frame RKLB as a high-growth space stock with meaningful upside, but also a relatively rich valuation after a sharp run. Price Prediction: Rocket Lab Will Hit $150 on This Date
• Negative Sentiment: SVP Arjun Kampani sold 88,000 shares worth about $9.5 million, and the insider sale has added to profit-taking concerns. Rocket Lab (NASDAQ:RKLB) SVP Sells 88,000 Shares

Rocket Lab Price Performance

Shares of NASDAQ RKLB opened at $107.24 on Monday. Rocket Lab Corporation has a 12-month low of $27.84 and a 12-month high of $151.00. The stock’s fifty day simple moving average is $105.58 and its two-hundred day simple moving average is $83.61. The stock has a market capitalization of $62.07 billion, a PE ratio of -335.12 and a beta of 2.48. The company has a current ratio of 4.47, a quick ratio of 4.02 and a debt-to-equity ratio of 0.02.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $200.35 million during the quarter, compared to analyst estimates 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 for the quarter was up 63.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. As a group, analysts expect that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

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.