SG Americas Securities LLC Has $34.09 Million Stake in Rocket Lab Corporation $RKLB

SG Americas Securities LLC grew its position in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 565.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 488,608 shares of the rocket manufacturer’s stock after acquiring an additional 415,224 shares during the period. SG Americas Securities LLC owned 0.09% of Rocket Lab worth $34,085,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of RKLB. AQR Capital Management LLC grew its position in Rocket Lab by 114.0% during the 1st 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 increased its holdings in Rocket Lab by 1,812.1% during 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 in the last quarter. Jones Financial Companies Lllp raised its position in 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 raised its position 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 valued at $13,831,000 after purchasing an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth boosted its stake in Rocket Lab by 1.0% in the first 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 owned by institutional investors and hedge funds.

Insider Activity at Rocket Lab

In other news, Director Merline Saintil sold 18,126 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $75.04, for a total transaction of $1,360,175.04. Following the transaction, the director owned 261,903 shares of the company’s stock, valued at $19,653,201.12. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank Klein sold 36,768 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total value of $2,645,457.60. Following the completion of the transaction, the insider owned 1,088,237 shares in the company, valued at approximately $78,298,652.15. This represents a 3.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,807,614 shares of company stock valued at $136,326,621 over the last quarter. 11.90% of the stock is currently owned by corporate insiders.

Key Stories Impacting Rocket Lab

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

Rocket Lab Stock Up 10.3%

NASDAQ:RKLB opened at $72.88 on Thursday. The company has a market cap of $41.36 billion, a price-to-earnings ratio of -196.97 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. The stock’s fifty day moving average price is $75.12 and its two-hundred day moving average price is $64.32. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $99.58.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of research reports. Bank of America raised their target price on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. KeyCorp downgraded shares of Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. Stifel Nicolaus increased their price objective on shares of Rocket Lab from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Rocket Lab from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.92.

Get Our Latest Analysis on Rocket Lab

About Rocket Lab

(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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