Principal Financial Group Inc. Sells 14,661 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Principal Financial Group Inc. lowered its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 31.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,341 shares of the rocket manufacturer’s stock after selling 14,661 shares during the quarter. Principal Financial Group Inc.’s holdings in Rocket Lab USA were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after buying an additional 2,448,789 shares during the period. 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 worth $30,226,000 after buying an additional 391,778 shares during the period. American Century Companies Inc. raised its stake in shares of Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock worth $13,713,000 after buying an additional 284,360 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of 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 period. Finally, LA Financiere DE L Echiquier raised its stake in shares of Rocket Lab USA by 9.4% in the second quarter. LA Financiere DE L Echiquier now owns 1,151,190 shares of the rocket manufacturer’s stock worth $5,526,000 after buying an additional 98,643 shares during the period. Institutional investors own 71.78% of the company’s stock.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. The trade was a 45.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.70% of the stock is currently owned by insiders.

Rocket Lab USA Stock Up 3.8 %

Shares of NASDAQ RKLB opened at $23.26 on Monday. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of -62.86 and a beta of 1.29. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The business has a 50-day moving average of $11.82 and a two-hundred day moving average of $7.50. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $23.81.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several recent research reports. JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. The Goldman Sachs Group increased their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. 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. Wells Fargo & Company increased their target price on Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus increased their target price on Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

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.