Swiss National Bank Grows Position in Rocket Lab Corporation $RKLB

Swiss National Bank raised its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 67.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,243,630 shares of the rocket manufacturer’s stock after purchasing an additional 501,830 shares during the quarter. Swiss National Bank owned about 0.26% of Rocket Lab worth $59,582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of Rocket Lab by 13.6% in the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock worth $6,123,000 after buying an additional 15,307 shares during the last quarter. Cadent Capital Advisors LLC purchased a new position in Rocket Lab during the third quarter valued at approximately $668,000. Orion Porfolio Solutions LLC purchased a new position in Rocket Lab during the second quarter valued at approximately $1,009,000. Norges Bank acquired a new position in Rocket Lab in the second quarter valued at approximately $164,751,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Rocket Lab by 14.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer’s stock valued at $7,335,000 after acquiring an additional 19,304 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Rocket Lab Trading Up 4.4%

Shares of RKLB stock opened at $71.96 on Thursday. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $99.58. The company has a market cap of $38.44 billion, a price-to-earnings ratio of -194.48 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 3.61. The stock has a 50 day simple moving average of $77.64 and a 200-day simple moving average of $62.68.

Insider Activity at Rocket Lab

In other Rocket Lab news, Director Merline Saintil sold 96,000 shares of the stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total transaction of $8,311,680.00. Following the transaction, the director directly owned 292,529 shares of the company’s stock, valued at $25,327,160.82. This trade represents a 24.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Adam C. Spice sold 1,365,665 shares of Rocket Lab stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the completion of the sale, the chief financial officer owned 1,359,568 shares in the company, valued at approximately $102,647,384. This trade represents a 50.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,362,428 shares of company stock valued at $281,055,579 in the last three months. Company insiders own 11.90% of the company’s stock.

Analyst Ratings Changes

RKLB has been the topic of a number of analyst reports. Bank of America raised their price objective on shares of Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Needham & Company LLC lowered their price target on shares of Rocket Lab from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Cantor Fitzgerald lifted their price objective on shares of Rocket Lab from $72.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rocket Lab currently has an average rating of “Moderate Buy” and a consensus price target of $75.92.

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.