Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Financial Management Network Inc.

Financial Management Network Inc. trimmed its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 30.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,500 shares of the rocket manufacturer’s stock after selling 5,480 shares during the quarter. Financial Management Network Inc.’s holdings in Rocket Lab USA were worth $318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RKLB. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA during the third quarter worth about $8,930,000. Geode Capital Management LLC increased its stake in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares during the period. 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 acquiring an additional 532,207 shares during the period. Quadrature Capital Ltd purchased a new stake in Rocket Lab USA during the third quarter worth about $2,651,000. Finally, Citigroup Inc. boosted its holdings in Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 completion of the transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,530 shares of company stock valued at $2,944,700 over the last 90 days. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Down 1.0 %

Shares of NASDAQ RKLB opened at $27.74 on Wednesday. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $33.34. 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 firm’s 50-day moving average is $26.90 and its two-hundred day moving average is $16.86.

Wall Street Analyst Weigh In

A number of research firms recently commented on RKLB. Stifel Nicolaus boosted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. The Goldman Sachs Group boosted their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Cantor Fitzgerald boosted their price objective 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. Bank of America boosted their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, KeyCorp boosted their price objective on shares of Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.28.

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.