Swiss National Bank Has $5.62 Million Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Swiss National Bank decreased its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 7.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 577,200 shares of the rocket manufacturer’s stock after selling 48,100 shares during the quarter. Swiss National Bank’s holdings in Rocket Lab USA were worth $5,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Schneider Downs Wealth Management Advisors LP acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at $107,000. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at $8,930,000. Intellectus Partners LLC boosted its position in shares of Rocket Lab USA by 20.8% in the 3rd quarter. Intellectus Partners LLC now owns 76,825 shares of the rocket manufacturer’s stock valued at $748,000 after purchasing an additional 13,222 shares during the period. Pier 88 Investment Partners LLC acquired a new position in shares of Rocket Lab USA in the 3rd quarter valued at $1,572,000. Finally, Victory Capital Management Inc. boosted its position in shares of Rocket Lab USA by 4.4% in the 3rd quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock valued at $395,000 after purchasing an additional 1,709 shares during the period. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on RKLB shares. Wells Fargo & Company raised their price objective 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. Stifel Nicolaus raised their price objective 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. JMP Securities started coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating for the company. Bank of America raised their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald raised their price objective 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Rocket Lab USA presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock opened at $25.67 on Thursday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $27.20. The firm has a fifty day simple moving average of $12.89 and a 200-day simple moving average of $7.93. 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 stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of -69.38 and a beta of 1.29.

Insiders Place Their Bets

In other news, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $689,772.30. Following the transaction, the general counsel now directly owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,064,530 shares of company stock valued at $37,018,400 in the last quarter. Insiders own 13.70% of the company’s stock.

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.