Sumitomo Mitsui Trust Holdings Inc. Sells 140,813 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,461,578 shares of the rocket manufacturer’s stock after selling 140,813 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of Rocket Lab USA worth $8,083,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in Rocket Lab USA in the fourth quarter valued at $34,000. Allspring Global Investments Holdings LLC bought a new position in Rocket Lab USA in the third quarter valued at $40,000. CenterBook Partners LP bought a new position in Rocket Lab USA in the third quarter valued at $44,000. Wealthfront Advisers LLC bought a new position in Rocket Lab USA in the third quarter valued at $44,000. Finally, MQS Management LLC bought a new position in Rocket Lab USA in the third quarter valued at $44,000. Institutional investors own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RKLB. Wells Fargo & Company decreased their price objective on shares of Rocket Lab USA from $5.00 to $4.25 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. KeyCorp began coverage on shares of Rocket Lab USA in a research report on Wednesday, January 17th. They issued an “overweight” rating and a $8.00 price objective for the company. Finally, Citigroup reissued a “buy” rating and issued a $6.00 price objective on shares of Rocket Lab USA in a research report on Monday, February 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.46.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $3.68 on Wednesday. The firm has a 50-day moving average of $4.16 and a 200-day moving average of $4.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.65 and a current ratio of 2.13. Rocket Lab USA, Inc. has a 52-week low of $3.47 and a 52-week high of $8.05.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Tuesday, February 27th. The rocket manufacturer reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $59.99 million for the quarter, compared to analyst estimates of $62.90 million. Rocket Lab USA had a negative return on equity of 30.54% and a negative net margin of 74.64%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) EPS. On average, research analysts forecast that Rocket Lab USA, Inc. will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $133,424.50. Following the completion of the sale, the general counsel now owns 695,147 shares in the company, valued at approximately $2,954,374.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 31,394 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $4.25, for a total value of $133,424.50. Following the completion of the sale, the general counsel now owns 695,147 shares in the company, valued at approximately $2,954,374.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Adam C. Spice sold 67,160 shares of Rocket Lab USA stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $4.25, for a total transaction of $285,430.00. Following the completion of the sale, the chief financial officer now owns 1,442,206 shares of the company’s stock, valued at approximately $6,129,375.50. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

Rocket Lab USA Company 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.