Xponance Inc. Boosts Stock Position in Rocket Lab Corporation $RKLB

Xponance Inc. raised its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 59.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,298 shares of the rocket manufacturer’s stock after buying an additional 32,913 shares during the quarter. Xponance Inc.’s holdings in Rocket Lab were worth $4,230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Investment Advisory Services LLC boosted its stake in Rocket Lab by 2.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 10,432 shares of the rocket manufacturer’s stock worth $500,000 after purchasing an additional 212 shares in the last quarter. ORG Partners LLC lifted its stake in shares of Rocket Lab by 22.1% in the third quarter. ORG Partners LLC now owns 1,337 shares of the rocket manufacturer’s stock worth $64,000 after buying an additional 242 shares in the last quarter. Parvin Asset Management LLC lifted its stake in shares of Rocket Lab by 7.2% in the second quarter. Parvin Asset Management LLC now owns 3,725 shares of the rocket manufacturer’s stock worth $133,000 after buying an additional 250 shares in the last quarter. Independent Advisor Alliance grew its holdings in shares of Rocket Lab by 6.0% during the third quarter. Independent Advisor Alliance now owns 6,478 shares of the rocket manufacturer’s stock valued at $310,000 after buying an additional 368 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its position in shares of Rocket Lab by 0.4% during the third quarter. Wealthfront Advisers LLC now owns 100,677 shares of the rocket manufacturer’s stock valued at $4,823,000 after acquiring an additional 376 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insider Transactions at Rocket Lab

In other Rocket Lab news, CEO Peter Beck sold 1,560,254 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $57.47, for a total transaction of $89,667,797.38. Following the completion of the sale, the chief executive officer directly owned 939,746 shares of the company’s stock, valued at approximately $54,007,202.62. This represents a 62.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank Klein sold 100,000 shares of Rocket Lab stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the transaction, the insider owned 1,169,487 shares in the company, valued at $85,314,076.65. This represents a 7.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,138,979 shares of company stock worth $265,048,346. 11.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America upped their price objective on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. The Goldman Sachs Group lifted their price objective on Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Finally, Needham & Company LLC lowered their target price on shares of Rocket Lab from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $75.92.

Rocket Lab Stock Down 4.9%

RKLB stock opened at $69.10 on Monday. The company has a market cap of $36.91 billion, a price-to-earnings ratio of -186.75 and a beta of 2.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18. The business’s 50-day moving average is $78.11 and its two-hundred day moving average is $61.25. Rocket Lab Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $99.58.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.