KPP Advisory Services LLC purchased a new stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,210 shares of the rocket manufacturer's stock, valued at approximately $922,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pittenger & Anderson Inc. bought a new stake in Rocket Lab in the 4th quarter valued at $484,000. Caisse Des Depots ET Consignations bought a new stake in Rocket Lab in the 4th quarter valued at $805,000. Horizon Investments LLC bought a new stake in Rocket Lab in the 4th quarter valued at $114,000. Fifth Third Bancorp increased its holdings in Rocket Lab by 1,891.3% in the 4th quarter. Fifth Third Bancorp now owns 1,374 shares of the rocket manufacturer's stock valued at $96,000 after buying an additional 1,305 shares during the period. Finally, Danske Bank A S increased its holdings in Rocket Lab by 9.6% in the 4th quarter. Danske Bank A S now owns 243,100 shares of the rocket manufacturer's stock valued at $16,959,000 after buying an additional 21,381 shares during the period. Institutional investors own 71.78% of the company's stock.
Key Headlines Impacting Rocket Lab
Here are the key news stories impacting Rocket Lab this week:
Analysts Set New Price Targets
RKLB has been the topic of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $85.00 target price on shares of Rocket Lab in a research note on Friday, March 13th. Clear Str upgraded shares of Rocket Lab to a "strong-buy" rating in a research report on Wednesday, March 18th. TD Cowen reiterated a "buy" rating on shares of Rocket Lab in a research report on Thursday, January 22nd. The Goldman Sachs Group increased their target price on shares of Rocket Lab from $47.00 to $69.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company started coverage on shares of Rocket Lab in a research report on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Rocket Lab presently has a consensus rating of "Moderate Buy" and an average target price of $83.31.
Get Our Latest Report on Rocket Lab
Rocket Lab Stock Up 1.9%
Shares of NASDAQ RKLB opened at $80.31 on Tuesday. The firm's 50-day simple moving average is $72.26 and its 200 day simple moving average is $68.22. The company has a market cap of $45.73 billion, a price-to-earnings ratio of -217.05 and a beta of 2.30. The company has a quick ratio of 3.61, a current ratio of 4.08 and a debt-to-equity ratio of 0.10. Rocket Lab Corporation has a 12-month low of $20.23 and a 12-month high of $99.58.
Insider Buying and Selling at Rocket Lab
In related news, SVP Arjun Kampani sold 28,761 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $2,001,477.99. Following the transaction, the senior vice president owned 421,699 shares in the company, valued at $29,346,033.41. This represents a 6.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Beck sold 18,857 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $1,312,258.63. Following the transaction, the chief executive officer owned 884,085 shares in the company, valued at approximately $61,523,475.15. This trade represents a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 233,449 shares of company stock worth $16,487,233 over the last quarter. Corporate insiders own 8.40% of the company's stock.
Rocket Lab Profile
(
Free Report)
Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company's primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company's propulsion capabilities.
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