Intech Investment Management LLC Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Intech Investment Management LLC purchased a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 94,651 shares of the rocket manufacturer’s stock, valued at approximately $921,000.

A number of other institutional investors have also modified their holdings of RKLB. Vanguard Group Inc. boosted its holdings in shares of Rocket Lab USA by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares in the last quarter. Ieq Capital LLC bought a new stake in shares of Rocket Lab USA in the 2nd quarter valued at about $5,469,000. Mizuho Markets Americas LLC bought a new stake in shares of Rocket Lab USA in the 3rd quarter valued at about $8,930,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after buying an additional 432,501 shares in the last quarter. Finally, ARK Investment Management LLC boosted its holdings in shares of Rocket Lab USA by 6.6% in the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after buying an additional 391,778 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald increased their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. KeyCorp increased their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Insider Transactions at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction 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 $41,685,623.55. The trade was a 45.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of Rocket Lab USA stock in a transaction on 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 owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,064,530 shares of company stock worth $37,018,400 in the last quarter. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Trading Up 0.9 %

Shares of RKLB opened at $25.67 on Friday. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $27.20. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm’s fifty day moving average is $13.26 and its two-hundred day moving average is $8.06. The stock has a market cap of $12.83 billion, a PE ratio of -69.38 and a beta of 1.29.

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.