Rocket Lab CFO Offloads $9.9 Million in Shares as Order Book and Analyst Backing Build

Rocket Lab's CFO sold 140,157 shares for about $9.93M under a pre-set Rule 10b5-1 plan, as Citigroup initiated coverage with a Buy rating.

Rocket Lab's finance chief cashed in a chunk of his stake this week — and the market barely blinked. Adam C. Spice exercised options on 140,157 shares at a strike price of $1.09 apiece on Thursday, then immediately sold the same 140,157 common shares on the open market. The gross proceeds came to roughly $9.93 million, executed across three tranches at average prices ranging from $70.28 to $71.79.

The move was telegraphed well in advance. Spice set up the arrangement under Rule 10b5-1 on June 3, 2026, a mechanism that lets executives automate share sales on preset terms and keeps any hint of insider-trading suspicion at arm's length. Even after the disposal, he retains 1,155,967 common shares outright, more than 2.24 million direct options, and another 250,000 shares held in a trust. His direct equity position shrank by about 10.8%.

Investors shrugged it off. Rocket Lab closed Friday's European session at EUR 65.70, up 4.6% on the day, and now trades 8.4% above its 50-day average of EUR 60.60. The lift wasn't tied to any single company announcement — a broader revival of interest in orbital launch capacity has been pulling the whole space sector higher, helped along by a rival Falcon 9 mission from SpaceX that carried additional satellites into orbit.

ARK Steps In, Citigroup Initiates

Prominent buyers have been leaning in as well. ARK Investment Management picked up 233,482 shares across its various funds on Thursday, according to media reports. Such purchases add momentum in the current climate, though they deserve a sober read rather than blind imitation.

The more consequential signal for the stock's medium-term valuation lies in operations. On Wednesday, Rocket Lab locked in its largest commercial Electron deal to date — a contract with partner Synspective covering twenty launches between 2028 and 2031. That single order pushed the company's total backlog past 100 missions, while lifting the tally of flights booked by Synspective to 47. These aren't mere letters of intent: Rocket Lab's launch tempo proves the point. In late September, its 97th Electron mission successfully delivered the 13th StriX satellite for the Japanese partner — the company's 18th launch this year.

That operational maturity likely factored into analyst John Godyn's thinking at Citigroup, who initiated coverage on Thursday with a Buy rating and a $105 price target.

The Iridium Gamble and Its Timeline

Not everything is smooth sailing. The planned acquisition of satellite network operator Iridium represents a radical leap from pure launch provider to integrated space company. Iridium shareholders approved the move about a week ago with roughly 99.6% of votes cast, and the stock has added 1.2% since. But completion is no foregone conclusion: regulatory clearances are still pending, and the final closing isn't targeted until mid-2027. Until then, both sides must demonstrate that the intended synergies justify the balance-sheet and operational heavy lifting.

Meanwhile, capital needs remain substantial. In its most recent quarter, Rocket Lab reported revenue of $234.07 million alongside an EPS of minus $0.08. Market participants are now focused on the planned maiden flight of the larger Neutron rocket, seen as the key lever for future revenue growth.

On balance, the case for optimism holds. Rocket Lab delivers reliable routine with Electron, sits on a well-stocked order book, and visibly benefits from sector-wide momentum. As long as launch cadence stays high and Iridium integration stays on track, the recent uptrend rests on solid ground.