Legacy Capital Wealth Partners LLC Has $373,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Legacy Capital Wealth Partners LLC decreased its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 49.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,643 shares of the rocket manufacturer’s stock after selling 14,404 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Rocket Lab USA were worth $373,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RKLB. Citigroup Inc. grew its stake in shares of Rocket Lab USA by 46.8% during the third quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock valued at $6,727,000 after purchasing an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Rocket Lab USA by 22.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock valued at $28,006,000 after purchasing an additional 532,207 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Rocket Lab USA by 12.2% during the third quarter. Geode Capital Management LLC now owns 8,253,035 shares of the rocket manufacturer’s stock valued at $80,317,000 after purchasing an additional 898,223 shares during the last quarter. FORA Capital LLC bought a new stake in shares of Rocket Lab USA during the third quarter valued at approximately $449,000. Finally, National Bank of Canada FI grew its stake in shares of Rocket Lab USA by 149.2% during the third quarter. National Bank of Canada FI now owns 50,408 shares of the rocket manufacturer’s stock valued at $490,000 after purchasing an additional 30,178 shares during the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Insider Transactions at Rocket Lab USA

In related news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total transaction of $1,150,000.00. Following the sale, the director now directly owns 534,675 shares in the company, valued at $12,297,525. This trade represents a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Arjun Kampani sold 28,562 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the sale, the general counsel now owns 608,996 shares in the company, valued at approximately $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. Insiders have sold a total of 124,530 shares of company stock valued at $2,944,700 over the last three months. 13.70% of the stock is currently owned by corporate insiders.

Rocket Lab USA Trading Down 1.0 %

Shares of NASDAQ RKLB opened at $28.02 on Monday. The company’s fifty day moving average is $26.80 and its 200-day moving average is $16.69. The stock has a market cap of $14.01 billion, a price-to-earnings ratio of -75.73 and a beta of 1.99. Rocket Lab USA, Inc. has a twelve month low of $3.47 and a twelve month high of $33.34. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RKLB shares. KeyCorp increased their price target on shares of Rocket Lab USA from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. TD Cowen raised shares of Rocket Lab USA to a “strong-buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price objective on shares of Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Citigroup raised their price objective on shares of Rocket Lab USA from $22.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Bank of America raised their price objective on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.28.

Rocket Lab USA Profile

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.