Sumitomo Mitsui Trust Group Inc. Has $26.49 Million Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 48.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,039,991 shares of the rocket manufacturer’s stock after selling 996,703 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Rocket Lab USA were worth $26,489,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RKLB. Citigroup Inc. lifted its holdings in Rocket Lab USA by 46.8% during the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Rocket Lab USA by 12.2% in the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock worth $80,317,000 after acquiring an additional 898,223 shares during the period. FORA Capital LLC bought a new stake in Rocket Lab USA in the third quarter valued at approximately $449,000. Finally, National Bank of Canada FI increased its position in Rocket Lab USA by 149.2% during the 3rd quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after purchasing an additional 30,178 shares during the period. Institutional investors own 71.78% of the company’s stock.

Insider Activity at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the company’s 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 completion of the sale, the director now owns 2,351,135 shares in the company, valued at approximately $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Nina Armagno sold 10,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,124,530 shares of company stock valued at $38,404,700. 13.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RKLB has been the topic of a number of analyst reports. Stifel Nicolaus upped 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. Wells Fargo & Company upped their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group lifted their price objective on Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Cantor Fitzgerald upped their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, TD Cowen upgraded Rocket Lab USA to a “strong-buy” rating in a report on Thursday, December 19th. Five 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, Rocket Lab USA has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Trading Down 7.8 %

Shares of Rocket Lab USA stock opened at $28.22 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.16 and a current ratio of 2.58. Rocket Lab USA, Inc. has a 52 week low of $3.47 and a 52 week high of $33.34. The stock has a 50 day moving average price of $26.46 and a two-hundred day moving average price of $16.05. The stock has a market capitalization of $14.11 billion, a PE ratio of -76.27 and a beta of 1.99.

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.