11,230 Shares in Rocket Lab USA, Inc. (NASDAQ:RKLB) Acquired by Everence Capital Management Inc.

Everence Capital Management Inc. acquired a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 11,230 shares of the rocket manufacturer’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of Rocket Lab USA by 23.4% in the second quarter. Principal Financial Group Inc. now owns 47,002 shares of the rocket manufacturer’s stock worth $226,000 after acquiring an additional 8,928 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Rocket Lab USA in the second quarter valued at about $67,000. Rhumbline Advisers raised its stake in shares of Rocket Lab USA by 24.2% during the 2nd quarter. Rhumbline Advisers now owns 480,154 shares of the rocket manufacturer’s stock worth $2,305,000 after purchasing an additional 93,447 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Rocket Lab USA by 97.8% during the 2nd quarter. National Bank of Canada FI now owns 20,230 shares of the rocket manufacturer’s stock valued at $92,000 after buying an additional 10,000 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Rocket Lab USA by 21.2% in the 2nd quarter. Arizona State Retirement System now owns 89,008 shares of the rocket manufacturer’s stock valued at $427,000 after buying an additional 15,565 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Rocket Lab USA Stock Performance

Shares of NASDAQ:RKLB opened at $27.95 on Wednesday. The stock has a market capitalization of $13.97 billion, a P/E ratio of -75.54 and a beta of 1.98. 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 1-year low of $3.47 and a 1-year high of $30.26. The business has a 50-day moving average price of $21.58 and a two-hundred day moving average price of $12.06.

Analysts Set New Price Targets

RKLB has been the topic of several recent research reports. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. KeyCorp raised their price target 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. Cantor Fitzgerald upped their price objective 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. Wells Fargo & Company raised their target price on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Finally, Citigroup upped their price target on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the company’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 completion of the transaction, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Klein sold 35,968 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $24.15, for a total value of $868,627.20. Following the transaction, the insider now owns 1,464,032 shares of the company’s stock, valued at approximately $35,356,372.80. This trade represents a 2.40 % decrease in their position. 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 company insiders.

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.