Legal & General Group Plc Sells 20,474 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Legal & General Group Plc lessened its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 443,092 shares of the rocket manufacturer's stock after selling 20,474 shares during the period. Legal & General Group Plc owned 0.09% of Rocket Lab USA worth $11,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer's stock valued at $80,317,000 after purchasing an additional 898,223 shares in the last quarter. Franklin Resources Inc. acquired a new position in Rocket Lab USA during the third quarter worth about $107,000. Udine Wealth Management Inc. bought a new stake in Rocket Lab USA in the fourth quarter worth about $1,342,000. Van ECK Associates Corp raised its holdings in shares of Rocket Lab USA by 26.9% in the 4th quarter. Van ECK Associates Corp now owns 166,369 shares of the rocket manufacturer's stock worth $4,237,000 after purchasing an additional 35,293 shares in the last quarter. Finally, AlphaCentric Advisors LLC lifted its stake in Rocket Lab USA by 66.7% during the fourth quarter. AlphaCentric Advisors LLC now owns 25,000 shares of the rocket manufacturer's stock valued at $637,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on RKLB shares. TD Cowen upgraded shares of Rocket Lab USA to a "strong-buy" rating in a report on Monday, February 24th. KeyCorp reduced 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 research report on Friday, February 28th. Wells Fargo & Company lowered their price objective 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 target price on shares of 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, 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 research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rocket Lab USA currently has an average rating of "Moderate Buy" and a consensus price target of $22.72.

Insider Transactions at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of Rocket Lab USA stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.93, for a total value of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.70% of the stock is owned by corporate insiders.

Rocket Lab USA Stock Down 1.2 %

NASDAQ:RKLB traded down $0.24 during trading hours on Friday, reaching $19.74. The company's stock had a trading volume of 9,181,879 shares, compared to its average volume of 15,275,294. Rocket Lab USA, Inc. has a one year low of $3.48 and a one year high of $33.34. The business's 50-day moving average is $20.49 and its 200-day moving average is $20.71. 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 company has a market cap of $8.95 billion, a price-to-earnings ratio of -53.35 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) 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 company had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Equities research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

About Rocket Lab USA

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.