Advisors Asset Management Inc. Has $2.44 Million Stake in Rocket Lab Corporation $RKLB

Advisors Asset Management Inc. boosted its holdings in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 476.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,923 shares of the rocket manufacturer’s stock after buying an additional 42,085 shares during the quarter. Advisors Asset Management Inc.’s holdings in Rocket Lab were worth $2,440,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in Rocket Lab by 176.1% in the third quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock valued at $580,952,000 after acquiring an additional 7,734,788 shares during the last quarter. Norges Bank purchased a new stake in shares of Rocket Lab during the 2nd quarter valued at $164,751,000. Invesco Ltd. lifted its stake in Rocket Lab by 67.0% in the second quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock valued at $223,287,000 after purchasing an additional 2,504,054 shares during the last quarter. Marex Group plc purchased a new stake in shares of Rocket Lab during the 2nd quarter valued at approximately $74,359,000. Finally, HRT Financial LP purchased a new stake in shares of Rocket Lab in the second quarter worth about $59,410,000. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Price Performance

RKLB stock opened at $67.44 on Friday. The company has a fifty day simple moving average of $75.54 and a two-hundred day simple moving average of $59.28. The firm has a market capitalization of $36.02 billion, a P/E ratio of -177.47 and a beta of 2.16. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a 52 week low of $14.71 and a 52 week high of $99.58.

Insider Buying and Selling

In other Rocket Lab news, insider Frank Klein sold 100,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total transaction of $7,295,000.00. Following the completion of the sale, the insider owned 1,169,487 shares in the company, valued at $85,314,076.65. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Merline Saintil sold 96,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total transaction of $8,311,680.00. Following the completion of the sale, the director owned 292,529 shares of the company’s stock, valued at approximately $25,327,160.82. This trade represents a 24.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,306,150 shares of company stock worth $271,865,732 over the last ninety days. Corporate insiders own 11.90% of the company’s stock.

Key Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

Analysts Set New Price Targets

Several analysts have recently weighed in on RKLB shares. The Goldman Sachs Group raised their price objective on shares of Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Bank of America lifted their price target on Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, KeyCorp cut Rocket Lab from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.92.

Check Out Our Latest Stock Report on Rocket Lab

Rocket Lab Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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