Brighton Jones LLC Decreases Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Brighton Jones LLC decreased its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 34.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,950 shares of the rocket manufacturer’s stock after selling 12,668 shares during the period. Brighton Jones LLC’s holdings in Rocket Lab USA were worth $610,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in shares of Rocket Lab USA by 26.7% during the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Rocket Lab USA in the 2nd quarter valued at approximately $76,000. Allworth Financial LP boosted its stake in shares of Rocket Lab USA by 1,827.6% during the 3rd quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 8,992 shares during the last quarter. Smith Anglin Financial LLC acquired a new stake in shares of Rocket Lab USA during the third quarter worth approximately $104,000. Finally, Xponance Inc. grew its position in shares of Rocket Lab USA by 29.1% during the second quarter. Xponance Inc. now owns 22,185 shares of the rocket manufacturer’s stock worth $106,000 after buying an additional 4,997 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

RKLB opened at $30.36 on Friday. The stock has a market cap of $15.18 billion, a price-to-earnings ratio of -82.05 and a beta of 1.98. The stock has a fifty day moving average price of $25.29 and a 200 day moving average price of $14.12. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year 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.

Insider Activity

In related news, Director Alexander R. Slusky sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total value of $689,772.30. Following the completion of the transaction, the general counsel now directly owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This trade represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock valued at $38,168,400 over the last 90 days. 13.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on RKLB. Citigroup lifted their price target on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Bank of America boosted their price target on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price target on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Finally, Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.06.

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.