Principal Securities Inc. Has $136,000 Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Principal Securities Inc. raised its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 137.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,356 shares of the rocket manufacturer’s stock after purchasing an additional 3,099 shares during the quarter. Principal Securities Inc.’s holdings in Rocket Lab USA were worth $136,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in Rocket Lab USA by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in Rocket Lab USA during the third quarter valued at $8,930,000. Citigroup Inc. increased its holdings in Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after acquiring an additional 220,432 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Rocket Lab USA by 2.2% during the fourth quarter. Rhumbline Advisers now owns 479,129 shares of the rocket manufacturer’s stock valued at $12,203,000 after purchasing an additional 10,219 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on RKLB. KeyCorp increased their target price on Rocket Lab USA from $27.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus raised their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. TD Cowen raised Rocket Lab USA to a “strong-buy” rating in a report on Monday. Bank of America upped their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company increased their price target on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.28.

Insider Activity

In other Rocket Lab USA news, Director Alexander R. Slusky sold 50,000 shares of Rocket Lab USA stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, 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 this link. Also, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at $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. Company insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Down 9.8 %

RKLB opened at $20.28 on Wednesday. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The firm’s 50 day simple moving average is $27.02 and its two-hundred day simple moving average is $17.57. The company has a market capitalization of $10.14 billion, a PE ratio of -54.81 and a beta of 1.99. 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 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.