Rockefeller Capital Management L.P. Cuts Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Rockefeller Capital Management L.P. lowered its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 172,746 shares of the rocket manufacturer's stock after selling 68,726 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Rocket Lab USA were worth $4,400,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Rocket Lab USA by 1.9% during 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Rocket Lab USA by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer's stock worth $211,084,000 after acquiring an additional 32,658 shares in the last quarter. FMR LLC lifted its position in shares of 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 worth $94,141,000 after acquiring an additional 3,684,195 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $73,919,000 after purchasing an additional 23,855 shares in the last quarter. Finally, Invesco Ltd. raised its stake 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 valued at $60,994,000 after purchasing an additional 697,574 shares during the period. Hedge funds and other institutional investors own 71.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RKLB shares. TD Cowen raised Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. KeyCorp cut their price target on shares of Rocket Lab USA from $32.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Morgan Stanley upped 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 cut their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a report on Friday, February 28th. 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 company. Based on data from MarketBeat, Rocket Lab USA has a consensus rating of "Moderate Buy" and a consensus target price of $22.72.

Insider Buying and Selling at Rocket Lab USA

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

Rocket Lab USA Trading Down 1.2 %

Shares of Rocket Lab USA stock traded down $0.24 during trading on Friday, hitting $19.74. The stock had a trading volume of 9,181,879 shares, compared to its average volume of 15,316,349. Rocket Lab USA, Inc. has a 12 month low of $3.49 and a 12 month high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The firm's fifty day simple moving average is $20.32 and its 200-day simple moving average is $20.78. The stock has a market cap of $8.95 billion, a PE ratio of -53.35 and a beta of 2.08.

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

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.