Rocket Lab Corporation $RKLB Holdings Boosted by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC raised its position in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 69.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,850 shares of the rocket manufacturer’s stock after purchasing an additional 13,100 shares during the quarter. Rocket Lab accounts for 1.5% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding. Terra Nova Asset Management LLC’s holdings in Rocket Lab were worth $2,045,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RKLB. Swedbank AB grew its stake in Rocket Lab by 8.2% during the 4th quarter. Swedbank AB now owns 509,250 shares of the rocket manufacturer’s stock valued at $35,525,000 after acquiring an additional 38,770 shares in the last quarter. Firsthand Capital Management Inc. lifted its position in shares of Rocket Lab by 40.0% in the third 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 in the last quarter. Swiss National Bank boosted its holdings in shares of Rocket Lab by 67.7% during the third 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. boosted its holdings in shares of Rocket Lab by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after purchasing an additional 5,610,469 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in Rocket Lab by 6.3% during the fourth 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. Hedge funds and other institutional investors own 71.78% of the company’s stock.

More Rocket Lab News

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

Insider Transactions at Rocket Lab

In other Rocket Lab news, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction on 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 transaction, the chief financial officer directly owned 983,049 shares of the company’s stock, valued at $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 is available through the SEC website. 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, SVP Arjun Kampani sold 88,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $107.98, for a total transaction of $9,502,240.00. Following the transaction, the senior vice president directly owned 264,705 shares in the company, valued at $28,582,845.90. The trade was a 24.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 573,515 shares of company stock valued at $76,412,122 in the last three months. 8.40% of the stock is currently owned by company insiders.

Rocket Lab Stock Performance

NASDAQ:RKLB opened at $107.24 on Monday. The stock’s 50 day moving average price is $105.58 and its 200 day moving average price is $83.61. Rocket Lab Corporation has a 52 week low of $27.84 and a 52 week high of $151.00. The company has a market capitalization of $62.07 billion, a P/E ratio of -335.12 and a beta of 2.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.02 and a current ratio of 4.47.

Rocket Lab (NASDAQ:RKLB) last posted its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). Rocket Lab had a negative net margin of 26.87% and a negative return on equity of 11.72%. The firm 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 company earned ($0.12) earnings per share. The company’s revenue was up 63.4% compared to the same quarter last year. On average, research analysts forecast that Rocket Lab Corporation will post -0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several research reports. BTIG Research reiterated a “hold” rating on shares of Rocket Lab in a research note on Tuesday, May 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, May 27th. Craig Hallum upgraded shares of Rocket Lab from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company started coverage on Rocket Lab in a report on Wednesday, April 1st. They set an “equal weight” rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.76.

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.