Stifel Financial Corp cut its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB – Free Report) by 18.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,045 shares of the rocket manufacturer’s stock after selling 14,551 shares during the quarter. Stifel Financial Corp’s holdings in Rocket Lab USA were worth $633,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rocket Lab USA by 54.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the rocket manufacturer’s stock worth $282,000 after acquiring an additional 20,636 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Rocket Lab USA in the second quarter worth approximately $95,000. Principal Financial Group Inc. grew its stake in Rocket Lab USA by 23.4% in the second quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock valued at $226,000 after acquiring an additional 8,928 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Rocket Lab USA during the second quarter valued at approximately $46,000. Finally, nVerses Capital LLC acquired a new position in shares of Rocket Lab USA during the second quarter worth approximately $121,000. Institutional investors own 71.78% of the company’s stock.
Insiders Place Their Bets
In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the sale, the general counsel now directly owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction on 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 transaction, the director now owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. The trade was a 45.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. Company insiders own 13.70% of the company’s stock.
Rocket Lab USA Stock Performance
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald upped their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. KeyCorp lifted their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.44.
Read Our Latest Stock Analysis on Rocket Lab USA
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.
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