Wealthfront Advisers LLC Increases Position in Rocket Companies, Inc. $RKT

Wealthfront Advisers LLC increased its stake in Rocket Companies, Inc. (NYSE:RKT) by 234.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 554,701 shares of the company’s stock after purchasing an additional 388,839 shares during the quarter. Wealthfront Advisers LLC’s holdings in Rocket Companies were worth $7,866,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Boston Partners increased its holdings in shares of Rocket Companies by 11.3% in the 1st quarter. Boston Partners now owns 13,704,339 shares of the company’s stock valued at $165,421,000 after purchasing an additional 1,390,559 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Rocket Companies by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 12,793,549 shares of the company’s stock valued at $154,418,000 after purchasing an additional 273,475 shares in the last quarter. Nuveen LLC purchased a new position in shares of Rocket Companies in the 1st quarter valued at about $96,470,000. Wellington Management Group LLP increased its holdings in shares of Rocket Companies by 1.5% in the 1st quarter. Wellington Management Group LLP now owns 4,774,324 shares of the company’s stock valued at $57,626,000 after purchasing an additional 69,147 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Rocket Companies in the 2nd quarter valued at about $44,102,000. Hedge funds and other institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

Rocket Companies stock opened at $18.20 on Tuesday. Rocket Companies, Inc. has a 12-month low of $10.06 and a 12-month high of $22.56. The stock has a market capitalization of $38.30 billion, a P/E ratio of -363.94 and a beta of 2.23. The firm’s 50-day moving average is $18.60 and its two-hundred day moving average is $15.54. The company has a debt-to-equity ratio of 2.36, a current ratio of 18.74 and a quick ratio of 18.74.

Rocket Companies (NYSE:RKT) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Rocket Companies had a negative net margin of 0.01% and a positive return on equity of 3.18%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Rocket Companies has set its Q3 2025 guidance at EPS. Equities analysts predict that Rocket Companies, Inc. will post 0.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RKT. Barclays set a $19.00 target price on shares of Rocket Companies and gave the company a “cautious” rating in a report on Monday, October 6th. Wall Street Zen upgraded shares of Rocket Companies from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Jefferies Financial Group raised their target price on shares of Rocket Companies from $11.50 to $14.00 and gave the company a “hold” rating in a report on Tuesday, July 22nd. Bank of America upgraded shares of Rocket Companies from a “neutral” rating to a “buy” rating and raised their target price for the company from $21.00 to $24.00 in a report on Wednesday, September 10th. Finally, Royal Bank Of Canada raised their target price on shares of Rocket Companies from $17.00 to $20.00 and gave the company a “sector perform” rating in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.12.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.