Insider Selling: Rocket Lab (NASDAQ:RKLB) CEO Sells 1,298,622 Shares

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) CEO Peter Beck sold 1,298,622 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $84.92, for a total transaction of $110,278,980.24. Following the completion of the transaction, the chief executive officer directly owned 2,715,181 shares in the company, valued at approximately $230,573,170.52. The trade was a 32.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Beck also recently made the following trade(s):

  • On Wednesday, July 8th, Peter Beck sold 990,960 shares of Rocket Lab stock. The stock was sold at an average price of $82.86, for a total value of $82,110,945.60.
  • On Monday, July 6th, Peter Beck sold 986,197 shares of Rocket Lab stock. The stock was sold at an average price of $95.33, for a total value of $94,014,160.01.

Rocket Lab Stock Down 0.1%

Shares of RKLB stock traded down $0.06 during trading hours on Wednesday, reaching $83.35. The company had a trading volume of 19,100,978 shares, compared to its average volume of 28,141,436. Rocket Lab Corporation has a 12 month low of $37.57 and a 12 month high of $151.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.47 and a quick ratio of 4.02. The business has a fifty day simple moving average of $109.08 and a 200-day simple moving average of $87.19. The company has a market cap of $48.24 billion, a price-to-earnings ratio of -260.47 and a beta of 2.54.

Rocket Lab (NASDAQ:RKLBGet Free Report) last announced its earnings results on Thursday, May 7th. The rocket manufacturer reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Rocket Lab had a negative return on equity of 11.72% and a negative net margin of 26.87%.The company had revenue of $200.35 million for the quarter, compared to analysts’ expectations of $189.65 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Rocket Lab’s quarterly revenue was up 63.4% on a year-over-year basis. On average, research analysts expect that Rocket Lab Corporation will post -0.29 earnings per share for the current fiscal year.

Trending Headlines about Rocket Lab

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Analyst Ratings Changes

RKLB has been the topic of several analyst reports. Craig Hallum boosted 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Rocket Lab from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research note on Tuesday, April 21st. Clear Str raised Rocket Lab to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Rocket Lab in a research report on Tuesday, June 30th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.24.

Read Our Latest Analysis on Rocket Lab

Institutional Trading of Rocket Lab

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer’s stock worth $3,308,033,000 after acquiring an additional 5,610,469 shares during the period. Baillie Gifford & Co. lifted its holdings in Rocket Lab by 47.2% during the 4th quarter. Baillie Gifford & Co. now owns 17,851,446 shares of the rocket manufacturer’s stock worth $1,245,317,000 after purchasing an additional 5,725,536 shares in the last quarter. Capital World Investors lifted its holdings in 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 purchasing an additional 1,738,623 shares in the last quarter. State Street Corp boosted its stake in Rocket Lab by 1.0% in the 4th quarter. State Street Corp now owns 12,520,223 shares of the rocket manufacturer’s stock worth $873,411,000 after purchasing an additional 120,652 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Rocket Lab by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 9,004,724 shares of the rocket manufacturer’s stock valued at $626,605,000 after buying an additional 825,158 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

About Rocket Lab

(Get 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.

Further Reading

Insider Buying and Selling by Quarter for Rocket Lab (NASDAQ:RKLB)

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