Sharpepoint LLC Has $4.25 Million Stock Holdings in Rocket Lab Corporation $RKLB

Sharpepoint LLC cut its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 31.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,770 shares of the rocket manufacturer’s stock after selling 41,405 shares during the quarter. Rocket Lab comprises about 3.8% of Sharpepoint LLC’s holdings, making the stock its 8th largest position. Sharpepoint LLC’s holdings in Rocket Lab were worth $4,253,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in Rocket Lab by 13.6% in the 3rd quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock valued at $6,123,000 after purchasing an additional 15,307 shares during the period. Cadent Capital Advisors LLC bought a new position in shares of Rocket Lab in the third quarter worth $668,000. Swiss National Bank raised its position in shares of Rocket Lab by 67.7% in the third quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock worth $59,582,000 after buying an additional 501,830 shares in the last quarter. Orion Porfolio Solutions LLC purchased a new stake in shares of Rocket Lab in the second quarter worth $1,009,000. Finally, Norges Bank bought a new stake in Rocket Lab during the second quarter valued at $164,751,000. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Rocket Lab in a report on Friday. Morgan Stanley upgraded shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $67.00 to $105.00 in a research report on Friday, January 16th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.92.

Rocket Lab Price Performance

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

Insider Transactions at Rocket Lab

In related news, Director Merline Saintil sold 96,000 shares of the company’s stock in a transaction 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 directly owned 292,529 shares in the company, valued at $25,327,160.82. This represents a 24.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Adam C. Spice sold 1,365,665 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $75.50, for a total transaction of $103,107,707.50. Following the sale, the chief financial officer directly owned 1,359,568 shares of the company’s stock, valued at $102,647,384. The trade was a 50.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 4,347,428 shares of company stock valued at $280,080,579. 11.90% of the stock is currently owned by insiders.

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.