Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,092 shares of the rocket manufacturer’s stock after selling 20,474 shares during the period. Legal & General Group Plc owned 0.09% of Rocket Lab USA worth $11,286,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of RKLB. FMR LLC raised its holdings in shares of Rocket Lab USA by 30,853.3% in the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock worth $94,141,000 after buying an additional 3,684,195 shares during the last quarter. Geode Capital Management LLC lifted its position in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Rocket Lab USA during the 4th quarter valued at about $21,896,000. Invesco Ltd. increased its holdings in shares of Rocket Lab USA by 41.1% in the fourth quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer’s stock valued at $60,994,000 after purchasing an additional 697,574 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of Rocket Lab USA in the fourth quarter worth about $17,261,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Activity at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the sale, the insider now owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RKLB has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group raised their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Morgan Stanley raised their target price on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, KeyCorp lowered their price target on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.72.

Rocket Lab USA Stock Down 5.2 %

RKLB stock opened at $19.98 on Thursday. The company has a market cap of $9.06 billion, a price-to-earnings ratio of -54.00 and a beta of 2.08. The firm has a 50-day moving average of $20.71 and a two-hundred day moving average of $20.64. Rocket Lab USA, Inc. has a 12 month low of $3.48 and a 12 month high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97.

Rocket Lab USA (NASDAQ:RKLB) last announced its quarterly earnings data on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. As a group, analysts forecast that Rocket Lab USA, Inc. will post -0.38 earnings per share for the current fiscal year.

Rocket Lab USA 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.