Natixis Reduces Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Natixis decreased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 50.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,055 shares of the rocket manufacturer's stock after selling 38,106 shares during the quarter. Natixis' holdings in Rocket Lab USA were worth $944,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer's stock valued at $94,141,000 after purchasing an additional 3,684,195 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Rocket Lab USA by 1,765.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock valued at $46,325,000 after acquiring an additional 1,721,300 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Rocket Lab USA in the fourth quarter worth about $21,896,000. Invesco Ltd. increased its stake in Rocket Lab USA by 41.1% during the fourth quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer's stock worth $60,994,000 after acquiring an additional 697,574 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Rocket Lab USA during the fourth quarter valued at approximately $17,261,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RKLB shares. Needham & Company LLC assumed coverage on Rocket Lab USA in a research report on Friday. They set a "buy" rating and a $28.00 target price on the stock. The Goldman Sachs Group increased their price target on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Thursday, January 16th. KeyCorp cut their price objective on Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Finally, Morgan Stanley lifted their price objective on shares of Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.25.

Rocket Lab USA Stock Down 2.0 %

Shares of NASDAQ RKLB traded down $0.44 during midday trading on Monday, reaching $21.94. 7,560,497 shares of the company's stock traded hands, compared to its average volume of 15,476,414. The company has a market cap of $9.95 billion, a price-to-earnings ratio of -59.54 and a beta of 2.08. Rocket Lab USA, Inc. has a one year low of $3.66 and a one year high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The stock's 50 day simple moving average is $19.57 and its 200-day simple moving average is $21.32.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The company had revenue of $132.39 million during the quarter, compared to analysts' expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Frank Klein sold 44,553 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $18.18, for a total transaction of $809,973.54. Following the completion of the sale, the insider now owns 1,419,479 shares of the company's stock, valued at $25,806,128.22. This represents a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.70% of the stock is currently owned by corporate insiders.

Rocket Lab USA 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.