ProShare Advisors LLC Has $2.50 Million Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

ProShare Advisors LLC increased its position in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,985 shares of the rocket manufacturer's stock after purchasing an additional 32,239 shares during the quarter. ProShare Advisors LLC's holdings in Rocket Lab USA were worth $2,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Rocket Lab USA by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer's stock worth $921,901,000 after buying an additional 668,093 shares during the period. Geode Capital Management LLC grew its holdings in shares of Rocket Lab USA by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock valued at $211,084,000 after buying an additional 32,658 shares during the period. FMR LLC grew its holdings in shares of Rocket Lab USA by 30,853.3% in the 4th quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after buying an additional 3,684,195 shares during the period. Northern Trust Corp grew its holdings in shares of Rocket Lab USA by 9.5% in the 4th quarter. Northern Trust Corp now owns 3,227,617 shares of the rocket manufacturer's stock valued at $82,207,000 after buying an additional 281,339 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Rocket Lab USA by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer's stock valued at $73,919,000 after buying an additional 23,855 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares in the company, valued at approximately $28,253,644.92. This trade represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RKLB. KeyCorp decreased their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Citigroup decreased their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Wells Fargo & Company decreased their price objective on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a research note on Monday, February 24th. Finally, The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $14.35 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rocket Lab USA has a consensus rating of "Moderate Buy" and an average price target of $23.50.

Rocket Lab USA Stock Up 2.6%

Shares of Rocket Lab USA stock traded up $0.65 during trading hours on Thursday, reaching $25.82. 18,591,477 shares of the company's stock were exchanged, compared to its average volume of 16,070,865. The company has a 50 day moving average of $20.64 and a two-hundred day moving average of $22.71. Rocket Lab USA, Inc. has a fifty-two week low of $4.15 and a fifty-two week high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The stock has a market cap of $11.71 billion, a P/E ratio of -69.78 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, May 8th. The rocket manufacturer reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $122.57 million during the quarter, compared to the consensus estimate of $120.74 million. During the same period in the prior year, the business posted ($0.09) earnings per share. Rocket Lab USA's quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Rocket Lab USA Company 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.