CIBC Asset Management Inc Purchases 746 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

CIBC Asset Management Inc lifted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,078 shares of the rocket manufacturer’s stock after purchasing an additional 746 shares during the quarter. CIBC Asset Management Inc’s holdings in Rocket Lab USA were worth $384,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in Rocket Lab USA during the third quarter worth approximately $8,930,000. Citigroup Inc. raised its position in Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after purchasing an additional 220,432 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Rocket Lab USA by 2.2% in the 4th quarter. Rhumbline Advisers now owns 479,129 shares of the rocket manufacturer’s stock valued at $12,203,000 after purchasing an additional 10,219 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total value of $1,150,000.00. Following the transaction, the director now owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Nina Armagno sold 10,000 shares of Rocket Lab USA stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares in the company, valued at $3,126,107.22. This represents a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.

Wall Street Analysts Forecast Growth

RKLB has been the topic of a number of analyst reports. Bank of America boosted their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus upped their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald increased their price target on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Trading Down 6.8 %

Shares of NASDAQ:RKLB opened at $23.55 on Monday. The business’s 50 day moving average price is $27.09 and its 200-day moving average price is $17.36. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $33.34. The firm has a market capitalization of $11.77 billion, a price-to-earnings ratio of -63.65 and a beta of 1.99. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16.

About Rocket Lab USA

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.