Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lessened its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 82.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,473 shares of the rocket manufacturer’s stock after selling 56,905 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Rocket Lab USA were worth $121,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Citigroup Inc. increased its holdings in shares of Rocket Lab USA by 46.8% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Rocket Lab USA by 22.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after buying an additional 532,207 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Rocket Lab USA in the 3rd quarter worth $449,000. Mizuho Markets Americas LLC purchased a new position in shares of Rocket Lab USA during the 3rd quarter worth $8,930,000. Finally, International Assets Investment Management LLC boosted its position in shares of 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 valued at $10,090,000 after acquiring an additional 88,686 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RKLB. The Goldman Sachs Group lifted their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Stifel Nicolaus upped their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a research report on Wednesday. KeyCorp lifted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, JMP Securities initiated coverage on Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Insiders Place Their Bets

In other news, Director Alexander R. Slusky sold 50,000 shares of the firm’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 value of $1,150,000.00. Following the completion of the transaction, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Frank Klein sold 35,968 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, 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. Insiders have sold 2,114,530 shares of company stock worth $38,168,400 over the last three months. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Price Performance

RKLB stock opened at $24.42 on Friday. The business’s fifty day moving average price is $16.57 and its 200 day moving average price is $9.55. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $28.10. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $12.21 billion, a PE ratio of -66.00 and a beta of 1.96.

Rocket Lab USA 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.