Charles Schwab Investment Management Inc. Purchases 532,207 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Charles Schwab Investment Management Inc. boosted its position in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 22.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,878,357 shares of the rocket manufacturer’s stock after purchasing an additional 532,207 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.58% of Rocket Lab USA worth $28,006,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RKLB. Ieq Capital LLC bought a new position in Rocket Lab USA in the second quarter worth about $5,469,000. Mizuho Markets Americas LLC acquired a new position in shares of Rocket Lab USA during the third quarter valued at about $8,930,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of 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 valued at $10,193,000 after acquiring an additional 432,501 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of 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 valued at $30,226,000 after acquiring an additional 391,778 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Rocket Lab USA by 11.1% during the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after acquiring an additional 284,360 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Alexander R. Slusky sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the transaction, the director now owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,114,530 shares of company stock worth $38,168,400. Corporate insiders own 13.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on RKLB. The Goldman Sachs Group upped their price objective on shares of Rocket Lab USA from $5.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. JMP Securities began coverage on shares of Rocket Lab USA in a report on Thursday, September 12th. They set a “market perform” rating on the stock. KeyCorp upped their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup increased their price target 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. Finally, Cantor Fitzgerald increased their price target 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. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Rocket Lab USA Trading Up 0.4 %

Rocket Lab USA stock opened at $23.11 on Thursday. The company has a current ratio of 2.58, a quick ratio of 2.16 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 $28.10. The stock’s 50 day simple moving average is $14.59 and its two-hundred day simple moving average is $8.65. The firm has a market cap of $11.55 billion, a PE ratio of -62.46 and a beta of 1.96.

About Rocket Lab USA

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.