Pinkerton Wealth LLC Makes New Investment in Rocket Lab Corporation $RKLB

Key Points

• Pinkerton Wealth LLC bought a new stake of 22,095 Rocket Lab shares in Q3, valued at about $1.06 million, while institutional investors now own roughly 71.78% of the company.
• Insiders have been net sellers: CEO Peter Beck and SVP Arjun Kampani sold shares in early March, and insiders disposed of 4,362,428 shares worth about $281.1 million in the last quarter, though insiders still hold about 11.90% of stock.
• Morgan Stanley upgraded Rocket Lab to an "overweight" rating with a $105 price target, and MarketBeat reports an average analyst view of "Moderate Buy" with a $75.92 average target.

Pinkerton Wealth LLC bought a new stake in Rocket Lab Corporation (NASDAQ:RKLB - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 22,095 shares of the rocket manufacturer's stock, valued at approximately $1,059,000.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rocket Lab in the 3rd quarter worth approximately $25,000. Hara Capital LLC acquired a new position in Rocket Lab during the third quarter worth $25,000. UMB Bank n.a. boosted its position in Rocket Lab by 352.5% during the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer's stock worth $26,000 after purchasing an additional 423 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Rocket Lab during the third quarter worth $27,000. Finally, Financial Consulate Inc. acquired a new stake in Rocket Lab in the third quarter valued at $35,000. Hedge funds and other institutional investors own 71.78% of the company's stock.

Insider Activity

In other news, SVP Arjun Kampani sold 23,711 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total value of $1,706,006.45. Following the completion of the sale, the senior vice president owned 397,988 shares of the company's stock, valued at approximately $28,635,236.60. The trade was a 5.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Beck sold 18,857 shares of the 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 directly owned 884,085 shares in the company, valued at $61,523,475.15. The trade was a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,362,428 shares of company stock worth $281,055,579 in the last quarter. Corporate insiders own 11.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Morgan Stanley upgraded Rocket Lab from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $67.00 to $105.00 in a research report on Friday, January 16th. Roth Mkm reissued a "buy" rating and issued a $75.00 price objective on shares of Rocket Lab in a research note on Tuesday, November 11th. TD Cowen restated a "buy" rating on shares of Rocket Lab in a report on Thursday, January 22nd. The Goldman Sachs Group lifted 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, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rocket Lab in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.92.

Rocket Lab Stock Performance

NASDAQ RKLB opened at $71.48 on Tuesday. 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 fifty-two week low of $14.71 and a fifty-two week high of $99.58. The business has a fifty day moving average of $77.63 and a 200-day moving average of $62.44. The stock has a market cap of $38.18 billion, a price-to-earnings ratio of -193.18 and a beta of 2.20.

Rocket Lab Profile

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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