Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 46.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 691,387 shares of the rocket manufacturer's stock after purchasing an additional 220,432 shares during the quarter. Citigroup Inc. owned about 0.14% of Rocket Lab USA worth $6,727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer's stock valued at $119,192,000 after purchasing an additional 2,448,789 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of Rocket Lab USA during the second quarter worth approximately $5,469,000. Mizuho Markets Americas LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter worth approximately $8,930,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer's stock valued at $28,006,000 after purchasing an additional 532,207 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Rocket Lab USA by 25.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer's stock valued at $10,193,000 after purchasing an additional 432,501 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Stock Up 6.3 %

Shares of RKLB traded up $1.61 on Friday, hitting $27.28. 19,870,549 shares of the stock traded hands, compared to its average volume of 29,027,808. The company has a market capitalization of $13.64 billion, a PE ratio of -73.73 and a beta of 1.29. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $28.05. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. The business has a 50 day simple moving average of $13.66 and a 200 day simple moving average of $8.24.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Rocket Lab USA from $5.25 to $13.50 and gave the stock an "equal weight" rating in a report on Wednesday, November 13th. JMP Securities initiated coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a "market perform" rating for the company. Citigroup lifted their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, KeyCorp upped 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 note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $16.50.

Insider Transactions at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 28,562 shares of Rocket Lab USA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the transaction, the general counsel now directly owns 608,996 shares in the company, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Klein sold 35,968 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares of the company's stock, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,064,530 shares of company stock worth $37,018,400 over the last three months. 13.70% of the stock is currently owned by company 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.