Bessemer Group Inc. Sells 49,081 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Bessemer Group Inc. cut its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 33.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,093 shares of the rocket manufacturer's stock after selling 49,081 shares during the quarter. Bessemer Group Inc.'s holdings in Rocket Lab USA were worth $2,473,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Rocket Lab USA by 1.9% in the 4th 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 period. Geode Capital Management LLC lifted its holdings in shares of Rocket Lab USA by 0.4% during 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 last quarter. FMR LLC raised its position 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 acquiring an additional 3,684,195 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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. Finally, Invesco Ltd. boosted its holdings in shares of Rocket Lab USA by 41.1% during the 4th quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer's stock worth $60,994,000 after buying an additional 697,574 shares during the period. 71.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price target on Rocket Lab USA from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Citigroup reduced 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 note on Friday, February 28th. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus increased their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group boosted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.72.

Rocket Lab USA Stock Down 2.2 %

Rocket Lab USA stock traded down $0.44 during midday trading on Thursday, reaching $19.54. The stock had a trading volume of 5,178,096 shares, compared to its average volume of 15,216,666. Rocket Lab USA, Inc. has a 1-year low of $3.48 and a 1-year high of $33.34. The firm's fifty day simple moving average is $20.71 and its 200-day simple moving average is $20.64. The stock has a market capitalization of $8.86 billion, a P/E ratio of -53.02 and a beta of 2.08. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share 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 the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. As a group, analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In related news, insider Frank Klein sold 44,553 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $18.18, for a total value of $809,973.54. Following the transaction, the insider now owns 1,419,479 shares in the company, valued at approximately $25,806,128.22. This represents a 3.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.70% of the stock is owned by 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.