Rocket Lab USA, Inc. (NASDAQ:RKLB) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. raised its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 94.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 808,900 shares of the rocket manufacturer’s stock after acquiring an additional 393,730 shares during the quarter. Prudential Financial Inc. owned 0.16% of Rocket Lab USA worth $20,603,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RKLB. Geode Capital Management LLC increased its stake in Rocket Lab USA by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after buying an additional 898,223 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $21,896,000. Vanguard Group Inc. lifted its stake in shares of Rocket Lab USA by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 36,195,577 shares of the rocket manufacturer’s stock worth $921,901,000 after acquiring an additional 668,093 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in Rocket Lab USA during the 4th quarter valued at approximately $8,775,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Insider Activity at Rocket Lab USA

In related news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the sale, the insider now directly owns 1,417,644 shares in the company, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a research report on Monday, February 24th. Stifel Nicolaus increased their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group boosted their target price on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Wells Fargo & Company reduced their price target on shares of Rocket Lab USA from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, Morgan Stanley boosted their price objective on Rocket Lab USA from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Rocket Lab USA Stock Down 4.1 %

NASDAQ:RKLB opened at $19.44 on Thursday. The firm has a market capitalization of $8.82 billion, a PE ratio of -52.54 and a beta of 2.06. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. 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 50 day moving average of $23.94 and a 200-day moving average of $19.48.

Rocket Lab USA (NASDAQ:RKLB) last issued its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Rocket Lab USA had a negative return on equity of 39.47% and a negative net margin of 51.76%. The company had revenue of $132.39 million during the quarter, compared to analyst estimates of $130.58 million. Analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current year.

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.