KBC Group NV Cuts Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

KBC Group NV lessened its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 28.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,479 shares of the rocket manufacturer’s stock after selling 4,119 shares during the quarter. KBC Group NV’s holdings in Rocket Lab USA were worth $102,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after acquiring an additional 2,448,789 shares during the period. Ieq Capital LLC bought a new position in Rocket Lab USA during the second quarter valued at $5,469,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Rocket Lab USA by 25.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after buying an additional 432,501 shares during the last quarter. ARK Investment Management LLC raised its stake in shares of Rocket Lab USA by 6.6% in the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after buying an additional 391,778 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Rocket Lab USA by 11.1% during the 2nd quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Insider Buying and Selling

In other news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction on Thursday, November 14th. The shares were 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. This represents a 45.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RKLB shares. Stifel Nicolaus lifted their price objective on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company lifted their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Bank of America upped their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Cantor Fitzgerald increased their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Stock Up 10.9 %

RKLB opened at $22.37 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a one year low of $3.47 and a one year high of $22.55. The firm has a market capitalization of $11.11 billion, a P/E ratio of -58.57 and a beta of 1.29. The company has a fifty day moving average price of $11.20 and a 200-day moving average price of $7.23.

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.