Chief Operating Officer Frank Klein of Rocket Lab Corp sold approximately 45,692 common shares on August 24, 2026, in a sell-to-cover transaction to satisfy tax withholding requirements associated with the vesting of restricted stock units.
The shares were sold at prices ranging from $69.5345 to $71.17 per share, totaling roughly $3.18 million. Following the transaction, Klein retains direct ownership of 961,295 Rocket Lab shares.
Rocket Lab’s stock closed at $66.18 on Friday, reflecting a weekly decline of about 9% and leaving shares more than 56% below the 52-week high of $151. The current valuation remains under scrutiny, with InvestingPro describing the stock as overvalued despite revenue multiples that exceed industry norms for a company yet to achieve profitability.
The executive’s disposal follows the company’s pending acquisition of Iridium Communications, which Rocket Lab disclosed in filings with the U.S. Securities and Exchange Commission. The deal will make Iridium an indirect wholly-owned subsidiary upon completion.
Rocket Lab reported second-quarter revenue of approximately $234.1 million, exceeding consensus estimates by 1% and marking a 62% increase year-over-year. Analysts at Cantor Fitzgerald noted the quarter’s record revenue.
For the third quarter, Rocket Lab guided revenue 8% above consensus projections, citing continued momentum in its Space Systems segment. Analysts at Needham maintained a buy rating with a $120 price target, while KeyBanc kept an above-average rating, citing accelerating momentum and elevated costs tied to the Neutron rocket program.
Cantor Fitzgerald raised its price target from $96 to $122, emphasizing progress toward the Neutron’s first launch later this year. Citizens reiterated an outperform rating with a $130 target, highlighting confidence in Neutron execution and long-term margin potential.
