Victory Capital Management Inc. Has $395,000 Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Victory Capital Management Inc. raised its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,587 shares of the rocket manufacturer’s stock after buying an additional 1,709 shares during the period. Victory Capital Management Inc.’s holdings in Rocket Lab USA were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RKLB. Advisors Asset Management Inc. lifted its holdings in Rocket Lab USA by 59.4% in the first quarter. Advisors Asset Management Inc. now owns 10,816 shares of the rocket manufacturer’s stock valued at $44,000 after buying an additional 4,032 shares during the period. International Assets Investment Management LLC acquired a new position in Rocket Lab USA in the second quarter valued at approximately $46,000. Baxter Bros Inc. acquired a new position in Rocket Lab USA in the second quarter valued at approximately $48,000. Amalgamated Bank lifted its holdings in Rocket Lab USA by 26.7% in the second quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock valued at $58,000 after buying an additional 2,538 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in Rocket Lab USA in the second quarter valued at approximately $67,000. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $689,772.30. Following the completion of the sale, the general counsel now owns 608,996 shares of the company’s stock, valued at $14,707,253.40. This represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $868,627.20. Following the sale, the insider now directly owns 1,464,032 shares of the company’s stock, valued at $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,064,530 shares of company stock valued at $37,018,400 over the last quarter. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several analyst reports. Bank of America increased their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company upped their target price on shares of Rocket Lab USA from $5.25 to $13.50 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. KeyCorp upped their target price on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald upped their target price on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group upped their target price on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Rocket Lab USA Stock Up 6.3 %

Shares of RKLB stock opened at $27.28 on Friday. The firm has a fifty day moving average of $13.66 and a 200-day moving average of $8.22. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $28.05. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of -73.73 and a beta of 1.29.

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.