Westfield Capital Management Co. LP Grows Stake in Rocket Lab Corporation $RKLB

Westfield Capital Management Co. LP grew its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) by 3.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,437,820 shares of the rocket manufacturer’s stock after acquiring an additional 72,772 shares during the period. Westfield Capital Management Co. LP owned about 0.50% of Rocket Lab worth $116,796,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in Rocket Lab in the third quarter worth $25,000. Hara Capital LLC bought a new position in shares of Rocket Lab during the 3rd quarter worth $25,000. UMB Bank n.a. increased its holdings in Rocket Lab by 352.5% in the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after acquiring an additional 423 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Rocket Lab in the 3rd quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Rocket Lab by 109.5% during the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 416 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Trading Up 0.3%

Shares of RKLB opened at $70.20 on Thursday. Rocket Lab Corporation has a 1-year low of $14.71 and a 1-year high of $99.58. The company has a market capitalization of $37.50 billion, a P/E ratio of -184.74 and a beta of 2.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83. The firm’s 50 day simple moving average is $77.88 and its 200 day simple moving average is $60.75.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RKLB shares. Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. The Goldman Sachs Group boosted their target price on shares of Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Roth Mkm restated a “buy” rating and set a $75.00 target price on shares of Rocket Lab in a research report on Tuesday, November 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Rocket Lab in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.92.

Insider Buying and Selling

In related news, Director Nina Armagno sold 27,314 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $68.21, for a total value of $1,863,087.94. Following the transaction, the director owned 108,940 shares of the company’s stock, valued at $7,430,797.40. This represents a 20.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Merline Saintil sold 96,000 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total value of $8,311,680.00. Following the transaction, the director owned 292,529 shares in the company, valued at $25,327,160.82. This trade represents a 24.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,138,979 shares of company stock valued at $265,048,346 in the last three months. 11.90% of the stock is owned by corporate insiders.

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.