KPP Advisory Services LLC Buys Shares of 13,210 Rocket Lab Corporation $RKLB

KPP Advisory Services LLC bought a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLBFree Report) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 13,210 shares of the rocket manufacturer’s stock, valued at approximately $922,000.

A number of other large investors also recently added to or reduced their stakes in RKLB. AQR Capital Management LLC lifted its position in Rocket Lab by 114.0% during the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after purchasing an additional 92,849 shares during the period. NewEdge Advisors LLC lifted its position in Rocket Lab by 1,812.1% during the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after purchasing an additional 34,882 shares during the period. Jones Financial Companies Lllp lifted its position in Rocket Lab by 53.8% during the 1st quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after purchasing an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Rocket Lab by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock valued at $13,831,000 after purchasing an additional 90,758 shares during the period. Finally, Focus Partners Wealth lifted its position in Rocket Lab by 1.0% during the 1st quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after purchasing an additional 681 shares during the period. 71.78% of the stock is currently owned by institutional investors and hedge funds.

More Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

Insider Buying and Selling at Rocket Lab

In related news, SVP Arjun Kampani sold 23,711 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total transaction of $1,706,006.45. Following the completion of the sale, the senior vice president directly owned 397,988 shares of the company’s stock, valued at approximately $28,635,236.60. This represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total value of $4,366,354.96. Following the sale, the chief financial officer directly owned 1,296,824 shares of the company’s stock, valued at approximately $90,245,982.16. The trade was a 4.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 233,449 shares of company stock worth $16,487,233 in the last quarter. Company insiders own 8.40% of the company’s stock.

Rocket Lab Price Performance

NASDAQ RKLB opened at $80.31 on Tuesday. The business has a 50 day simple moving average of $72.26 and a 200 day simple moving average of $68.22. Rocket Lab Corporation has a 52-week low of $20.23 and a 52-week high of $99.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. The stock has a market cap of $45.73 billion, a price-to-earnings ratio of -217.05 and a beta of 2.30.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Clear Str upgraded shares of Rocket Lab to a “strong-buy” rating in a research report on Wednesday, March 18th. KeyCorp downgraded shares of Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Wall Street Zen upgraded shares of Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Finally, The Goldman Sachs Group upped their price target on Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.31.

Read Our Latest Analysis on Rocket Lab

Rocket Lab Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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