Barclays PLC Sells 560,125 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Barclays PLC lowered its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 20.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,184,394 shares of the rocket manufacturer’s stock after selling 560,125 shares during the quarter. Barclays PLC owned about 0.44% of Rocket Lab USA worth $21,254,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Rocket Lab USA by 25.6% during 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. Hennion & Walsh Asset Management Inc. raised its position in shares of Rocket Lab USA by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock valued at $440,000 after acquiring an additional 26,605 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Rocket Lab USA by 323.3% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 19,708 shares of the rocket manufacturer’s stock worth $95,000 after acquiring an additional 15,052 shares during the last quarter. ARK Investment Management LLC grew its holdings in Rocket Lab USA by 6.6% during 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 purchasing an additional 391,778 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Rocket Lab USA by 54.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the rocket manufacturer’s stock valued at $282,000 after purchasing an additional 20,636 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Matthew Ocko sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the sale, the director now owns 2,351,135 shares of the company’s stock, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the transaction, the general counsel now owns 608,996 shares in the company, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,114,530 shares of company stock worth $38,168,400 in the last quarter. Corporate insiders own 13.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RKLB shares. Cantor Fitzgerald boosted their price target on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Citigroup boosted their target price on Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Bank of America raised their price target 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. KeyCorp boosted their price objective 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, Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.44.

Rocket Lab USA Stock Up 8.1 %

Rocket Lab USA stock opened at $24.42 on Friday. The company has a fifty day simple moving average of $16.57 and a 200 day simple moving average of $9.55. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $28.10. The company has a market cap of $12.21 billion, a P/E 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.