J. Safra Sarasin Holding AG Has $883,000 Stock Position in Rocket Companies, Inc. $RKT

J. Safra Sarasin Holding AG lowered its stake in Rocket Companies, Inc. (NYSE:RKT) by 82.1% during the first quarter, HoldingsChannel reports. The firm owned 61,988 shares of the company’s stock after selling 283,477 shares during the period. J. Safra Sarasin Holding AG’s holdings in Rocket Companies were worth $883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of Rocket Companies by 48.9% in the first quarter. Royal Bank of Canada now owns 69,641 shares of the company’s stock worth $841,000 after buying an additional 22,861 shares during the period. Amundi raised its holdings in shares of Rocket Companies by 3.1% during the first quarter. Amundi now owns 33,416 shares of the company’s stock valued at $403,000 after acquiring an additional 997 shares during the period. AQR Capital Management LLC raised its holdings in shares of Rocket Companies by 1,086.5% during the first quarter. AQR Capital Management LLC now owns 400,467 shares of the company’s stock valued at $4,734,000 after acquiring an additional 366,716 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Rocket Companies by 12.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 370,619 shares of the company’s stock valued at $4,473,000 after acquiring an additional 40,326 shares in the last quarter. Finally, Creative Planning lifted its position in shares of Rocket Companies by 17.2% in the 2nd quarter. Creative Planning now owns 18,215 shares of the company’s stock valued at $258,000 after acquiring an additional 2,679 shares in the last quarter. Institutional investors and hedge funds own 4.59% of the company’s stock.

Rocket Companies Stock Up 2.9%

RKT stock opened at $14.31 on Wednesday. Rocket Companies, Inc. has a 12-month low of $12.17 and a 12-month high of $24.36. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 1.13. The company has a market cap of $40.48 billion, a price-to-earnings ratio of 286.16 and a beta of 2.16. The company has a 50 day moving average of $14.13 and a two-hundred day moving average of $16.38.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Rocket Companies had a net margin of 2.78% and a return on equity of 4.30%. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the company posted $0.04 EPS. Rocket Companies’s revenue was up 167.1% on a year-over-year basis. On average, equities analysts anticipate that Rocket Companies, Inc. will post 0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on RKT shares. Keefe, Bruyette & Woods lowered their price objective on shares of Rocket Companies from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. JPMorgan Chase & Co. reduced their target price on Rocket Companies from $16.00 to $15.50 and set a “neutral” rating for the company in a report on Monday. Weiss Ratings raised Rocket Companies from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. BTIG Research reiterated a “neutral” rating on shares of Rocket Companies in a report on Tuesday, June 16th. Finally, Wells Fargo & Company lowered their price target on Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Rocket Companies currently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Rocket Companies Company Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.