Rocket Lab USA, Inc. (NASDAQ:RKLB) Position Reduced by Brighton Jones LLC

Brighton Jones LLC trimmed its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 34.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,950 shares of the rocket manufacturer's stock after selling 12,668 shares during the period. Brighton Jones LLC's holdings in Rocket Lab USA were worth $610,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Citigroup Inc. boosted its stake in shares of Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock worth $6,727,000 after acquiring an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock worth $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Geode Capital Management LLC boosted its position in Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock worth $80,317,000 after purchasing an additional 898,223 shares in the last quarter. FORA Capital LLC acquired a new stake in Rocket Lab USA in the third quarter valued at $449,000. Finally, National Bank of Canada FI grew its holdings in Rocket Lab USA by 149.2% in the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer's stock valued at $490,000 after purchasing an additional 30,178 shares during the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Trading Down 3.8 %

RKLB traded down $1.21 on Friday, reaching $30.36. 23,808,445 shares of the company's stock were exchanged, compared to its average volume of 16,796,540. The company has a market cap of $15.18 billion, a price-to-earnings ratio of -82.05 and a beta of 1.98. 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, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The company's 50 day moving average is $25.29 and its 200-day moving average is $14.18.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, insider Frank Klein sold 35,968 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the completion of the transaction, the insider now directly owns 1,464,032 shares of the company's stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the transaction, the general counsel now directly owns 608,996 shares of the company's stock, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on RKLB shares. Cantor Fitzgerald boosted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. TD Cowen raised shares of Rocket Lab USA to a "strong-buy" rating in a report on Thursday, December 19th. The Goldman Sachs Group raised their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Stifel Nicolaus upped their target price on Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, KeyCorp boosted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.06.

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.