Stifel Financial Corp Sells 14,551 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Stifel Financial Corp lessened its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,045 shares of the rocket manufacturer’s stock after selling 14,551 shares during the period. Stifel Financial Corp’s holdings in Rocket Lab USA were worth $633,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Rocket Lab USA during the second quarter worth about $46,000. Amalgamated Bank lifted its stake 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 acquiring an additional 2,538 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Rocket Lab USA in the 2nd quarter valued at about $67,000. Sanctuary Advisors LLC bought a new position in shares of Rocket Lab USA during the 2nd quarter worth approximately $76,000. Finally, National Bank of Canada FI raised its stake in Rocket Lab USA by 97.8% in the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Price Performance

RKLB stock opened at $26.60 on Thursday. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of -71.89 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. The company has a 50 day simple moving average of $18.73 and a 200 day simple moving average of $10.65. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $28.10.

Insiders Place Their Bets

In other news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction dated 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 sale, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was 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 approximately $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. 13.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RKLB shares. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. JMP Securities assumed coverage on Rocket Lab USA in a research report on Thursday, September 12th. They issued a “market perform” rating on the stock. The Goldman Sachs Group raised their target price 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. Cantor Fitzgerald boosted 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 report on Thursday, November 14th. Finally, Bank of America increased their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.44.

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.