Assetmark Inc. boosted its holdings in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 5,150.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,127 shares of the rocket manufacturer's stock after buying an additional 12,877 shares during the period. Assetmark Inc.'s holdings in Rocket Lab were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of RKLB. Sara Bay Financial boosted its holdings in Rocket Lab by 0.7% in the 4th quarter. Sara Bay Financial now owns 15,905 shares of the rocket manufacturer's stock valued at $1,121,000 after purchasing an additional 117 shares during the period. ORG Partners LLC grew its position in shares of Rocket Lab by 9.1% during the 4th quarter. ORG Partners LLC now owns 1,458 shares of the rocket manufacturer's stock valued at $102,000 after purchasing an additional 121 shares in the last quarter. Traynor Capital Management Inc. grew its position in shares of Rocket Lab by 1.9% during the 4th quarter. Traynor Capital Management Inc. now owns 7,191 shares of the rocket manufacturer's stock valued at $502,000 after purchasing an additional 133 shares in the last quarter. Capital Advisors Wealth Management LLC grew its position in shares of Rocket Lab by 1.0% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 13,466 shares of the rocket manufacturer's stock valued at $939,000 after purchasing an additional 136 shares in the last quarter. Finally, Capital Investment Advisory Services LLC grew its position in shares of Rocket Lab by 2.1% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 10,432 shares of the rocket manufacturer's stock valued at $500,000 after purchasing an additional 212 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.
Key Headlines Impacting Rocket Lab
Here are the key news stories impacting Rocket Lab this week:
Insiders Place Their Bets
In other Rocket Lab news, CEO Peter Beck sold 18,857 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $1,312,258.63. Following the completion of the sale, the chief executive officer directly owned 884,085 shares of the company's stock, valued at $61,523,475.15. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Adam C. Spice sold 62,744 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the completion of the sale, the chief financial officer directly owned 1,296,824 shares of the company's stock, valued at $90,245,982.16. This represents a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 233,449 shares of company stock valued at $16,487,233 over the last three months. 11.90% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on RKLB. Weiss Ratings restated a "sell (d-)" rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Citizens Jmp raised shares of Rocket Lab from a "market perform" rating to an "outperform" rating and set a $85.00 price objective for the company in a report on Tuesday, April 7th. Clear Str raised shares of Rocket Lab to a "strong-buy" rating in a report on Wednesday, March 18th. Zacks Research downgraded shares of Rocket Lab from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 10th. Finally, Wells Fargo & Company initiated coverage on shares of Rocket Lab in a report on Wednesday, April 1st. They set an "equal weight" rating and a $60.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.31.
Read Our Latest Stock Analysis on RKLB
Rocket Lab Stock Performance
NASDAQ RKLB opened at $90.04 on Thursday. Rocket Lab Corporation has a 52-week low of $20.02 and a 52-week high of $99.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. The company has a market capitalization of $51.27 billion, a P/E ratio of -243.34 and a beta of 2.20. The company has a fifty day moving average of $71.00 and a 200-day moving average of $67.50.
About Rocket Lab
(
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.
Read More
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