Swiss National Bank Increases Stake in Rocket Lab Corporation The Swiss National Bank has significantly boosted its holdings in Rocket Lab Corporation, according to its latest 13F filing with the Securities and Exchange Commission. The institutional investor raised its stake in the rocket manufacturer’s stock by 67.7% during the third quarter, acquiring an additional 501,830 shares. This brings the bank’s total ownership to 1,243,630 shares, representing approximately 0.26% of the company’s equity and valued at around $59.6 million. Rocket Lab, a leading aerospace company, provides launch services, spacecraft, and space systems for commercial and government clients. Its primary launch vehicle is the Electron rocket, designed for deploying small satellites and rideshare payloads to low Earth orbit. The company also develops the Rutherford engine, known for its electric-pump-fed design and additive-manufactured components, which powers the Electron rocket and supports its propulsion systems. The stock’s recent performance has been mixed, with shares trading near $71.96 as of the latest report. The company has a market capitalization of $38.44 billion, a price-to-earnings ratio of -194.48, and a beta of 2.20. Analysts have issued a range of ratings, with a consensus of “Moderate Buy” and an average price target of $75.92. However, individual analysts have varied forecasts, including Bank of America raising its target to $120. Insider activity has also drawn attention. Over the past three months, insiders sold a total of 4,362,428 shares worth $281.06 million. Notably, CFO Adam C. Spice sold 1,365,665 shares for about $103.1 million, reducing his ownership stake by 50.11%.#securities_and_exchange_commission #bank_of_america #swiss_national_bank #rocket_lab_corporation #zacks_research
