Principal Financial Group Inc. Has $315,000 Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Principal Financial Group Inc. cut its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 31.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,341 shares of the rocket manufacturer’s stock after selling 14,661 shares during the period. Principal Financial Group Inc.’s holdings in Rocket Lab USA were worth $315,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Rocket Lab USA by 9.2% in the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock valued at $119,192,000 after buying an additional 2,448,789 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Rocket Lab USA by 6.6% in 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 buying an additional 391,778 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Rocket Lab USA by 11.1% in 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 buying an additional 284,360 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Rocket Lab USA by 25.6% in 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 buying an additional 432,501 shares in the last quarter. Finally, LA Financiere DE L Echiquier grew its stake in shares of Rocket Lab USA by 9.4% in the second quarter. LA Financiere DE L Echiquier now owns 1,151,190 shares of the rocket manufacturer’s stock valued at $5,526,000 after buying an additional 98,643 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rocket Lab USA

In related news, Director Matthew Ocko sold 2,000,000 shares of the company’s stock in a transaction on 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 directly owns 2,351,135 shares of the company’s stock, valued at $41,685,623.55. This represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in 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 research note on Tuesday, November 19th. Bank of America lifted their price objective 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. KeyCorp lifted their price objective on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup lifted their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Rocket Lab USA from $5.25 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Rocket Lab USA Stock Up 3.8 %

Shares of NASDAQ RKLB opened at $23.26 on Monday. Rocket Lab USA, Inc. has a 12 month low of $3.47 and a 12 month high of $23.81. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of -62.86 and a beta of 1.29. The business has a 50-day moving average of $11.82 and a 200-day moving average of $7.50.

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.