VK Services LLC Has $836.02 Million Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

VK Services LLC reduced its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,823,617 shares of the rocket manufacturer's stock after selling 5,000,000 shares during the period. Rocket Lab USA comprises 98.5% of VK Services LLC's portfolio, making the stock its largest holding. VK Services LLC owned 6.57% of Rocket Lab USA worth $836,018,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

RKLB has been the subject of a number of analyst reports. KeyCorp reduced their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Citigroup reduced their price objective on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Morgan Stanley increased their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Rocket Lab USA in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group raised their target price on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Rocket Lab USA presently has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Rocket Lab USA Price Performance

RKLB stock traded down $0.40 during trading on Friday, hitting $25.42. 14,181,396 shares of the company's stock traded hands, compared to its average volume of 16,107,837. Rocket Lab USA, Inc. has a 52 week low of $4.15 and a 52 week high of $33.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business has a fifty day simple moving average of $20.92 and a 200 day simple moving average of $22.90. The stock has a market capitalization of $11.53 billion, a price-to-earnings ratio of -68.70 and a beta of 2.04.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The rocket manufacturer reported ($0.12) EPS 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 business had revenue of $122.57 million for the quarter, compared to the consensus estimate of $120.74 million. During the same quarter last year, the business earned ($0.09) EPS. Rocket Lab USA's revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, research analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Lab USA

In other 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is owned by company insiders.

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.