Barclays PLC Sells 560,125 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Barclays PLC reduced its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 20.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,184,394 shares of the rocket manufacturer’s stock after selling 560,125 shares during the period. Barclays PLC’s holdings in Rocket Lab USA were worth $21,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RKLB. Ieq Capital LLC bought a new stake in shares of Rocket Lab USA during the 2nd quarter worth about $5,469,000. Mizuho Markets Americas LLC acquired a new stake in Rocket Lab USA during the third quarter worth approximately $8,930,000. Charles Schwab Investment Management Inc. increased its stake in Rocket Lab USA by 22.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Rocket Lab USA by 25.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after acquiring an additional 432,501 shares in the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of Rocket Lab USA by 6.6% during the 2nd quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock valued at $30,226,000 after acquiring an additional 391,778 shares during the period. 71.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RKLB. Stifel Nicolaus boosted their price target on Rocket Lab USA from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald lifted their price objective on shares of Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upped their target price on Rocket Lab USA from $5.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Wells Fargo & Company raised their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Citigroup boosted their target price on Rocket Lab USA from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.44.

Rocket Lab USA Stock Up 8.1 %

Shares of NASDAQ RKLB opened at $24.42 on Friday. The company has a 50 day simple moving average of $16.57 and a 200 day simple moving average of $9.55. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $28.10. The firm has a market cap of $12.21 billion, a PE ratio of -66.00 and a beta of 1.96.

Insider Buying and Selling at Rocket Lab USA

In other news, Director Matthew Ocko sold 2,000,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the completion of the transaction, the director now directly owns 2,351,135 shares in the company, valued at $41,685,623.55. This trade represents a 45.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Arjun Kampani sold 28,562 shares of the company’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 value of $689,772.30. Following the completion of the sale, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. The trade was a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,114,530 shares of company stock worth $38,168,400. 13.70% of the stock is currently owned by company insiders.

About Rocket Lab USA

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.