Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by State Street Corp

State Street Corp reduced its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,501,225 shares of the rocket manufacturer's stock after selling 499,675 shares during the period. State Street Corp owned approximately 3.32% of Rocket Lab USA worth $160,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. raised its position in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer's stock valued at $6,727,000 after purchasing an additional 220,432 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 532,207 shares during the period. FORA Capital LLC acquired a new stake in Rocket Lab USA in the third quarter valued at approximately $449,000. Mizuho Markets Americas LLC purchased a new position in Rocket Lab USA in the third quarter worth approximately $8,930,000. Finally, International Assets Investment Management LLC grew its holdings in Rocket Lab USA by 934.5% during the 3rd quarter. International Assets Investment Management LLC now owns 98,176 shares of the rocket manufacturer's stock worth $10,090,000 after acquiring an additional 88,686 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, insider Frank Klein sold 35,968 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was 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. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Insiders own 13.70% of the company's stock.

Rocket Lab USA Stock Performance

RKLB traded up $1.84 during trading on Friday, hitting $24.42. 18,758,537 shares of the stock were exchanged, compared to its average volume of 12,083,129. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $28.10. The stock has a fifty day moving average price of $16.57 and a two-hundred day moving average price of $9.55. The firm has a market capitalization of $12.21 billion, a P/E ratio of -66.00 and a beta of 1.96.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an "equal weight" rating in a report on Wednesday. Cantor Fitzgerald increased their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Bank of America lifted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $5.00 to $12.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Finally, Stifel Nicolaus boosted their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Rocket Lab USA presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.44.

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.