Prudential Financial Inc. Has $11.39 Million Stock Position in Rocket Lab Corporation $RKLB

Prudential Financial Inc. lessened its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 28.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 318,340 shares of the rocket manufacturer’s stock after selling 123,861 shares during the period. Prudential Financial Inc.’s holdings in Rocket Lab were worth $11,387,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of RKLB. Atlantic Union Bankshares Corp acquired a new position in shares of Rocket Lab during the 2nd quarter worth approximately $36,000. ORG Partners LLC raised its position in Rocket Lab by 491.9% during the second quarter. ORG Partners LLC now owns 1,095 shares of the rocket manufacturer’s stock worth $38,000 after acquiring an additional 910 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Rocket Lab by 3,250.0% in the second quarter. Golden State Wealth Management LLC now owns 1,340 shares of the rocket manufacturer’s stock valued at $48,000 after acquiring an additional 1,300 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Rocket Lab by 36.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,518 shares of the rocket manufacturer’s stock valued at $54,000 after acquiring an additional 405 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Rocket Lab by 361.7% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,170 shares of the rocket manufacturer’s stock worth $78,000 after purchasing an additional 1,700 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insider Transactions at Rocket Lab

In related news, CEO Peter Beck sold 18,857 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $40.65, for a total transaction of $766,537.05. Following the transaction, the chief executive officer directly owned 902,942 shares of the company’s stock, valued at approximately $36,704,592.30. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Klein sold 4,736 shares of Rocket Lab stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $42.08, for a total transaction of $199,290.88. Following the completion of the sale, the insider owned 1,269,487 shares of the company’s stock, valued at $53,420,012.96. This trade represents a 0.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 5,573,532 shares of company stock worth $274,301,358 over the last ninety days. Corporate insiders own 11.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on RKLB shares. Roth Capital reaffirmed a “buy” rating and issued a $75.00 target price on shares of Rocket Lab in a report on Tuesday, November 11th. Cantor Fitzgerald boosted their price target on Rocket Lab from $35.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Robert W. Baird began coverage on Rocket Lab in a research report on Wednesday, October 15th. They issued an “outperform” rating and a $83.00 price objective for the company. Morgan Stanley reduced their target price on Rocket Lab from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $75.00 target price (up from $65.00) on shares of Rocket Lab in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.17.

Rocket Lab Price Performance

Rocket Lab stock opened at $41.93 on Friday. The company has a market capitalization of $22.40 billion, a price-to-earnings ratio of -110.34 and a beta of 2.16. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a 12 month low of $14.71 and a 12 month high of $73.97. The stock’s 50 day moving average is $54.69 and its 200-day moving average is $43.99.

Rocket Lab (NASDAQ:RKLB) last released its quarterly earnings results on Monday, November 10th. The rocket manufacturer reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Rocket Lab had a negative return on equity of 27.26% and a negative net margin of 35.64%.The business had revenue of $155.08 million during the quarter, compared to analysts’ expectations of $152.45 million. During the same period last year, the firm posted ($0.10) EPS. The firm’s revenue for the quarter was up 48.0% compared to the same quarter last year. Rocket Lab has set its Q4 2025 guidance at EPS. Equities research analysts expect that Rocket Lab Corporation will post -0.38 EPS for the current year.

Rocket Lab Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.