B. Metzler seel. Sohn & Co. AG Sells 21,740 Shares of Rocket Lab Corporation $RKLB

B. Metzler seel. Sohn & Co. AG lessened its holdings in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 39.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 33,387 shares of the rocket manufacturer’s stock after selling 21,740 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Rocket Lab were worth $1,600,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RKLB. AQR Capital Management LLC grew its holdings in Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after buying an additional 92,849 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Rocket Lab by 1,812.1% in the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after acquiring an additional 34,882 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Rocket Lab by 53.8% in the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $282,000 after acquiring an additional 5,507 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Rocket Lab by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock worth $13,831,000 after acquiring an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth increased its position in Rocket Lab by 1.0% during the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after acquiring an additional 681 shares during the period. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Down 3.6%

RKLB opened at $68.93 on Wednesday. The firm has a market cap of $36.82 billion, a price-to-earnings ratio of -186.29 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. The firm’s 50-day simple moving average is $77.60 and its 200-day simple moving average is $62.62. Rocket Lab Corporation has a twelve month low of $14.71 and a twelve month high of $99.58.

Insider Transactions at Rocket Lab

In other news, CEO Peter Beck sold 1,560,254 shares of Rocket Lab stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $57.47, for a total value of $89,667,797.38. Following the completion of the transaction, the chief executive officer owned 939,746 shares in the company, valued at approximately $54,007,202.62. The trade was a 62.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Merline Saintil sold 96,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $86.58, for a total value of $8,311,680.00. Following the completion of the transaction, the director directly owned 292,529 shares in the company, valued at $25,327,160.82. The trade was a 24.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 4,362,428 shares of company stock valued at $281,055,579. 11.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Rocket Lab from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 10th. Wall Street Zen upgraded shares of Rocket Lab from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Needham & Company LLC cut their price objective on shares of Rocket Lab from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Rocket Lab in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Rocket Lab currently has a consensus rating of “Moderate Buy” and an average target price of $75.92.

About Rocket Lab

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.