HarbourVest Partners LLC Takes $708,000 Position in Rocket Lab Corporation $RKLB

HarbourVest Partners LLC acquired a new position in Rocket Lab Corporation (NASDAQ:RKLB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,770 shares of the rocket manufacturer’s stock, valued at approximately $708,000. Rocket Lab makes up about 0.3% of HarbourVest Partners LLC’s investment portfolio, making the stock its 5th biggest position.

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

Insider Transactions at Rocket Lab

In other news, CFO Adam C. Spice sold 62,744 shares of Rocket Lab stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $4,366,354.96. Following the sale, the chief financial officer owned 1,296,824 shares in the company, valued at $90,245,982.16. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Arjun Kampani sold 23,711 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $71.95, for a total transaction of $1,706,006.45. Following the sale, the senior vice president directly owned 397,988 shares of the company’s stock, valued at $28,635,236.60. This represents a 5.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,347,428 shares of company stock worth $280,080,579 in the last ninety days. Company insiders own 11.90% of the company’s stock.

Rocket Lab Trading Up 0.1%

RKLB stock opened at $68.41 on Friday. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $99.58. The company has a quick ratio of 3.61, a current ratio of 4.08 and a debt-to-equity ratio of 0.10. The firm has a market cap of $36.54 billion, a P/E ratio of -184.89 and a beta of 2.20. The company’s 50-day simple moving average is $77.46 and its 200-day simple moving average is $62.87.

Analyst Ratings Changes

RKLB has been the subject of a number of research analyst reports. Bank of America raised their price target on shares of Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Needham & Company LLC dropped their price objective on shares of Rocket Lab from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wall Street Zen raised Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 target price on shares of Rocket Lab in a research note on Friday. Finally, TD Cowen reaffirmed a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. One equities research 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. Based on data from MarketBeat, Rocket Lab presently has an average rating of “Moderate Buy” and a consensus price target of $75.92.

Rocket Lab Company Profile

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.