Bessemer Group Inc. Sells 49,081 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Bessemer Group Inc. trimmed its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 33.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,093 shares of the rocket manufacturer’s stock after selling 49,081 shares during the quarter. Bessemer Group Inc.’s holdings in Rocket Lab USA were worth $2,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 purchasing an additional 668,093 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Rocket Lab USA by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 8,285,693 shares of the rocket manufacturer’s stock valued at $211,084,000 after acquiring an additional 32,658 shares during the period. FMR LLC raised its stake in shares of Rocket Lab USA by 30,853.3% during the fourth quarter. FMR LLC now owns 3,696,136 shares of the rocket manufacturer’s stock valued at $94,141,000 after acquiring an additional 3,684,195 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Rocket Lab USA by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,902,212 shares of the rocket manufacturer’s stock worth $73,919,000 after purchasing an additional 23,855 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Rocket Lab USA by 41.1% in the fourth quarter. Invesco Ltd. now owns 2,394,732 shares of the rocket manufacturer’s stock worth $60,994,000 after purchasing an additional 697,574 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rocket Lab USA news, insider Frank Klein sold 1,835 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the transaction, the insider now owns 1,417,644 shares of the company’s stock, valued at approximately $28,253,644.92. The trade was a 0.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.70% of the company’s stock.

Rocket Lab USA Price Performance

Shares of NASDAQ:RKLB opened at $19.63 on Monday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The business has a fifty day moving average price of $21.18 and a 200-day moving average price of $20.57. The company has a market capitalization of $8.90 billion, a PE ratio of -53.05 and a beta of 2.08. 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 (NASDAQ:RKLB) last posted its quarterly earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. The firm had revenue of $132.39 million for the quarter, compared to analysts’ expectations of $130.58 million. As a group, equities analysts expect that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RKLB. The Goldman Sachs Group increased their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Stifel Nicolaus raised their price target on Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. KeyCorp decreased their price objective on shares of Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, February 28th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Monday, February 24th. Finally, Wells Fargo & Company cut their price objective on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.72.

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.