Harel Insurance Investments & Financial Services Ltd. Has $6.82 Million Stock Holdings in Rocket Lab Corporation $RKLB

Harel Insurance Investments & Financial Services Ltd. grew its holdings in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 47.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 106,167 shares of the rocket manufacturer’s stock after acquiring an additional 34,255 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Rocket Lab were worth $6,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Baillie Gifford & Co. grew its position in 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. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab by 13.4% in 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. Norges Bank bought a new position in shares of Rocket Lab in the 4th quarter valued at $341,036,000. Alliancebernstein L.P. raised its holdings in shares of Rocket Lab by 818.8% during the 3rd quarter. Alliancebernstein L.P. now owns 2,190,132 shares of the rocket manufacturer’s stock worth $104,929,000 after buying an additional 1,951,755 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Rocket Lab by 12.0% during the 4th quarter. Capital World Investors now owns 16,200,726 shares of the rocket manufacturer’s stock worth $1,130,172,000 after buying an additional 1,738,623 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rocket Lab

In other news, insider Marvin Bradford Clevenger sold 3,500 shares of Rocket Lab stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $146.67, for a total value of $513,345.00. Following the completion of the sale, the insider owned 473,975 shares in the company, valued at $69,517,913.25. The trade was a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter Beck sold 990,960 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $82.86, for a total transaction of $82,110,945.60. Following the transaction, the chief executive officer owned 1,724,221 shares in the company, valued at $142,868,952.06. The trade was a 36.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 3,849,294 shares of company stock worth $362,816,208. Corporate insiders own 8.40% of the company’s stock.

Rocket Lab Trading Down 3.3%

RKLB opened at $76.20 on Thursday. The stock has a market cap of $44.10 billion, a PE ratio of -238.12 and a beta of 2.54. 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 company has a fifty day moving average of $108.95 and a 200-day moving average of $87.31. Rocket Lab Corporation has a twelve month low of $37.57 and a twelve month high of $151.00.

Rocket Lab (NASDAQ:RKLBGet Free Report) last released its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The business had revenue of $200.35 million during the quarter, compared to analysts’ expectations of $189.65 million. Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The firm’s revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) earnings per share. On average, sell-side analysts predict that Rocket Lab Corporation will post -0.26 EPS for the current year.

Rocket Lab News Summary

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

Analyst Ratings Changes

A number of research analysts have issued reports on RKLB shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $96.00 target price on shares of Rocket Lab in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a report on Tuesday, April 21st. Citizens Jmp raised their target price on shares of Rocket Lab from $95.00 to $130.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 30th. Clear Str raised shares of Rocket Lab to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Craig Hallum upped their price target on shares of Rocket Lab from $98.00 to $120.00 and gave the stock a “buy” rating in a 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.18.

View Our Latest Analysis on RKLB

About Rocket Lab

(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.

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

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