Geode Capital Management LLC Purchases 898,223 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Geode Capital Management LLC raised its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 12.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,253,035 shares of the rocket manufacturer's stock after purchasing an additional 898,223 shares during the period. Geode Capital Management LLC owned 1.66% of Rocket Lab USA worth $80,317,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Rocket Lab USA during the 2nd quarter valued at approximately $46,000. Amalgamated Bank increased its holdings in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer's stock valued at $58,000 after acquiring an additional 2,538 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Rocket Lab USA in the 2nd quarter worth about $67,000. Sanctuary Advisors LLC bought a new position in Rocket Lab USA in the 2nd quarter worth about $76,000. Finally, National Bank of Canada FI grew its position in Rocket Lab USA by 97.8% during the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer's stock valued at $92,000 after purchasing an additional 10,000 shares during the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RKLB shares. KeyCorp lifted their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 11th. Bank of America lifted their target price on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Stifel Nicolaus upped their price target on Rocket Lab USA from $15.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $17.44.

Insider Buying and Selling

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the company's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA 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 transaction, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is owned by insiders.

Rocket Lab USA Trading Up 7.1 %

Rocket Lab USA stock opened at $24.87 on Friday. The business has a 50-day simple moving average of $18.08 and a two-hundred day simple moving average of $10.26. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $28.10. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The company has a market cap of $12.43 billion, a P/E ratio of -67.21 and a beta of 1.96.

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.