Creative Planning Has $288,000 Stock Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Creative Planning raised its stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 63.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,043 shares of the rocket manufacturer’s stock after purchasing an additional 23,264 shares during the period. Creative Planning’s holdings in Rocket Lab USA were worth $288,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Rocket Lab USA by 9.2% during the first quarter. Vanguard Group Inc. now owns 29,000,578 shares of the rocket manufacturer’s stock worth $119,192,000 after purchasing an additional 2,448,789 shares during the period. ARK Investment Management LLC raised its holdings in Rocket Lab USA by 6.6% during the second quarter. ARK Investment Management LLC now owns 6,297,073 shares of the rocket manufacturer’s stock worth $30,226,000 after buying an additional 391,778 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Rocket Lab USA by 11.1% in the second quarter. American Century Companies Inc. now owns 2,856,973 shares of the rocket manufacturer’s stock valued at $13,713,000 after buying an additional 284,360 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Rocket Lab USA by 25.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,123,591 shares of the rocket manufacturer’s stock valued at $10,193,000 after buying an additional 432,501 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Rocket Lab USA by 15.7% during the first quarter. Nikko Asset Management Americas Inc. now owns 1,691,090 shares of the rocket manufacturer’s stock worth $6,917,000 after acquiring an additional 229,512 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $7.00 price target on shares of Rocket Lab USA in a research report on Monday, September 30th. Morgan Stanley lowered Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $8.00 to $6.00 in a report on Monday, July 15th. The Goldman Sachs Group upped their price target on Rocket Lab USA from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. BTIG Research started coverage on Rocket Lab USA in a research report on Wednesday, June 26th. They issued a “neutral” rating for the company. Finally, Citigroup lifted their price objective on shares of Rocket Lab USA from $5.45 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.75.

Insider Buying and Selling at Rocket Lab USA

In other news, CFO Adam C. Spice sold 62,512 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the sale, the chief financial officer now owns 1,321,165 shares in the company, valued at $9,195,308.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Rocket Lab USA news, General Counsel Arjun Kampani sold 28,563 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $6.96, for a total transaction of $198,798.48. Following the sale, the general counsel now directly owns 637,558 shares of the company’s stock, valued at $4,437,403.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam C. Spice sold 62,512 shares of Rocket Lab USA stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total transaction of $435,083.52. Following the completion of the transaction, the chief financial officer now owns 1,321,165 shares of the company’s stock, valued at $9,195,308.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,521 shares of company stock worth $906,059 over the last three months. 13.70% of the stock is currently owned by insiders.

Rocket Lab USA Stock Up 1.2 %

RKLB stock opened at $10.81 on Friday. The stock has a market cap of $5.37 billion, a P/E ratio of -30.88 and a beta of 1.32. The company has a current ratio of 2.82, a quick ratio of 2.43 and a debt-to-equity ratio of 0.90. The stock’s fifty day simple moving average is $7.69 and its two-hundred day simple moving average is $5.59. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $11.19.

Rocket Lab USA (NASDAQ:RKLB) last released its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. The company had revenue of $106.25 million for the quarter, compared to analysts’ expectations of $105.47 million. Rocket Lab USA had a negative return on equity of 34.12% and a negative net margin of 54.17%. The business’s revenue for the quarter was up 71.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) EPS. Analysts expect that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

About Rocket Lab USA

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.