State Street Corp Has $160.56 Million Stock Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

State Street Corp reduced its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 16,501,225 shares of the rocket manufacturer’s stock after selling 499,675 shares during the period. State Street Corp owned about 3.32% of Rocket Lab USA worth $160,557,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RKLB. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Rocket Lab USA by 25.6% during 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 last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Rocket Lab USA by 40.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 91,619 shares of the rocket manufacturer’s stock worth $440,000 after acquiring an additional 26,605 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in Rocket Lab USA by 323.3% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 19,708 shares of the rocket manufacturer’s stock worth $95,000 after acquiring an additional 15,052 shares during the last quarter. ARK Investment Management LLC lifted its position in Rocket Lab USA by 6.6% during the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after acquiring an additional 391,778 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Rocket Lab USA by 54.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,690 shares of the rocket manufacturer’s stock worth $282,000 after acquiring an additional 20,636 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rocket Lab USA

In other Rocket Lab USA news, Director Matthew Ocko sold 2,000,000 shares of the firm’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 sale, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 534,675 shares in the company, valued at $12,297,525. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,114,530 shares of company stock valued at $38,168,400 over the last three months. 13.70% of the stock is owned by insiders.

Rocket Lab USA Stock Performance

Shares of NASDAQ:RKLB opened at $24.42 on Friday. The company’s 50 day simple moving average is $16.28 and its 200 day simple moving average is $9.41. The stock has a market capitalization of $12.21 billion, a price-to-earnings ratio of -66.00 and a beta of 1.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $28.10.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RKLB shares. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald raised their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. KeyCorp raised their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Citigroup raised their target price on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.44.

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.