Jasper Ridge Partners L.P. Sells 29,925 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Jasper Ridge Partners L.P. decreased its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,014 shares of the rocket manufacturer's stock after selling 29,925 shares during the quarter. Jasper Ridge Partners L.P.'s holdings in Rocket Lab USA were worth $688,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in 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. BNP Paribas Financial Markets acquired a new position in Rocket Lab USA during the 4th quarter worth approximately $56,977,000. Renaissance Technologies LLC raised its stake in shares of Rocket Lab USA by 1,765.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,818,800 shares of the rocket manufacturer's stock worth $46,325,000 after buying an additional 1,721,300 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Rocket Lab USA by 3,592.0% in the 4th quarter. Hsbc Holdings PLC now owns 1,534,265 shares of the rocket manufacturer's stock valued at $39,477,000 after buying an additional 1,492,708 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in Rocket Lab USA during the fourth quarter worth $35,987,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.70% of the company's stock.

Rocket Lab USA Stock Up 2.4%

Rocket Lab USA stock traded up $0.51 during midday trading on Tuesday, hitting $21.77. 4,320,054 shares of the company were exchanged, compared to its average volume of 15,607,562. The company has a market cap of $9.88 billion, a PE ratio of -59.18 and a beta of 2.04. The company's fifty day moving average price is $19.71 and its 200-day moving average price is $22.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a fifty-two week low of $4.15 and a fifty-two week high of $33.34.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on RKLB shares. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Wells Fargo & Company decreased their price objective on Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $14.35 to $16.00 and gave the company a "neutral" rating in a report on Monday. Morgan Stanley lifted their price target on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Finally, Citigroup decreased their target price on shares of Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Five 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 presently has an average rating of "Moderate Buy" and an average target price of $23.50.

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.