Charles Schwab Investment Management Inc. Has $28.01 Million Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Charles Schwab Investment Management Inc. boosted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 22.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,878,357 shares of the rocket manufacturer's stock after acquiring an additional 532,207 shares during the period. Charles Schwab Investment Management Inc. owned 0.58% of Rocket Lab USA worth $28,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RKLB. Price T Rowe Associates Inc. MD raised its stake in Rocket Lab USA by 153.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 380,965 shares of the rocket manufacturer's stock valued at $1,567,000 after acquiring an additional 230,931 shares during the period. DNB Asset Management AS increased its position in Rocket Lab USA by 17.7% during the 2nd quarter. DNB Asset Management AS now owns 114,628 shares of the rocket manufacturer's stock worth $550,000 after buying an additional 17,269 shares during the period. Baxter Bros Inc. bought a new position in Rocket Lab USA during the 2nd quarter worth $48,000. 180 Wealth Advisors LLC increased its position in Rocket Lab USA by 7.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 40,180 shares of the rocket manufacturer's stock worth $214,000 after buying an additional 2,807 shares during the period. Finally, LA Financiere DE L Echiquier increased its position in Rocket Lab USA by 9.4% during the 2nd quarter. LA Financiere DE L Echiquier now owns 1,151,190 shares of the rocket manufacturer's stock worth $5,526,000 after buying an additional 98,643 shares during the period. Institutional investors own 71.78% of the company's stock.

Insider Activity

In other news, General Counsel Arjun Kampani sold 28,562 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the transaction, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Rocket Lab USA Trading Up 3.5 %

Shares of RKLB stock traded up $0.81 during mid-day trading on Thursday, reaching $23.92. 19,838,869 shares of the stock traded hands, compared to its average volume of 11,936,433. The stock's fifty day simple moving average is $14.59 and its two-hundred day simple moving average is $8.65. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $28.10. The company has a market cap of $11.96 billion, a price-to-earnings ratio of -63.76 and a beta of 1.96. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RKLB shares. JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a "market perform" rating on the stock. The Goldman Sachs Group increased their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Bank of America increased their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Cantor Fitzgerald increased their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus raised their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $16.50.

Rocket Lab USA 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.