Vontobel Holding Ltd. Sells 8,581 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Vontobel Holding Ltd. cut its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 36.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,164 shares of the rocket manufacturer’s stock after selling 8,581 shares during the quarter. Vontobel Holding Ltd.’s holdings in Rocket Lab USA were worth $386,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new stake in Rocket Lab USA in the fourth quarter valued at approximately $40,000. New Millennium Group LLC increased its stake in Rocket Lab USA by 105.0% in the fourth quarter. New Millennium Group LLC now owns 2,050 shares of the rocket manufacturer’s stock valued at $52,000 after purchasing an additional 1,050 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Rocket Lab USA during the fourth quarter worth about $76,000. Allworth Financial LP increased its position in shares of Rocket Lab USA by 1,827.6% during the third quarter. Allworth Financial LP now owns 9,484 shares of the rocket manufacturer’s stock worth $92,000 after acquiring an additional 8,992 shares in the last quarter. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Rocket Lab USA during the third quarter worth about $106,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab USA Stock Down 2.6 %

RKLB opened at $25.26 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average price of $27.05 and a 200-day moving average price of $17.08. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of -68.27 and a beta of 1.99.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price target 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, December 11th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group increased their price target on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, Bank of America raised their target price 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 equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.28.

Insider Activity

In related news, insider Frank Klein sold 35,968 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $24.15, for a total transaction of $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nina Armagno sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.63, for a total transaction of $236,300.00. Following the completion of the transaction, the director now owns 132,294 shares of the company’s stock, valued at approximately $3,126,107.22. The trade was a 7.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,530 shares of company stock valued at $2,944,700 over the last three months. Insiders own 13.70% of the company’s stock.

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.