Daiwa Securities Group Inc. Sells 7,722 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Daiwa Securities Group Inc. reduced its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 4.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 151,754 shares of the rocket manufacturer’s stock after selling 7,722 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Rocket Lab USA were worth $1,477,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RKLB. Vanguard Group Inc. increased its stake in Rocket Lab USA by 9.2% during the 1st quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after purchasing an additional 2,448,789 shares in the last quarter. Ieq Capital LLC bought a new stake in Rocket Lab USA during 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 third quarter worth approximately $8,930,000. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $28,006,000 after acquiring an additional 532,207 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Rocket Lab USA by 25.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock worth $10,193,000 after acquiring an additional 432,501 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on RKLB shares. Citigroup lifted their price target on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Stifel Nicolaus lifted their price target on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp lifted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on shares of Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and an average target price of $16.50.

Insider Buying and Selling at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $17.73, for a total value of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the transaction, the general counsel now owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,064,530 shares of company stock valued at $37,018,400. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Up 0.9 %

Shares of RKLB stock opened at $25.67 on Friday. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $27.20. The stock has a market cap of $12.83 billion, a P/E ratio of -69.38 and a beta of 1.29. 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 company has a 50 day simple moving average of $13.26 and a two-hundred day simple moving average of $8.06.

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.