Creative Planning Acquires 23,504 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Creative Planning increased its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 39.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,547 shares of the rocket manufacturer’s stock after acquiring an additional 23,504 shares during the period. Creative Planning’s holdings in Rocket Lab USA were worth $813,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Smith Anglin Financial LLC bought a new position in shares of Rocket Lab USA in the third quarter valued at approximately $104,000. Lakeridge Wealth Management LLC grew its holdings in shares of Rocket Lab USA by 30.0% in the third quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after acquiring an additional 3,000 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Rocket Lab USA in the third quarter valued at approximately $1,190,000. Sanctuary Advisors LLC bought a new position in shares of Rocket Lab USA in the second quarter valued at approximately $76,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rocket Lab USA by 24.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,334 shares of the rocket manufacturer’s stock valued at $131,000 after acquiring an additional 5,332 shares in the last quarter. 71.78% of the stock is owned by institutional investors.

Rocket Lab USA Trading Up 6.7 %

NASDAQ:RKLB opened at $11.42 on Friday. The company has a market cap of $5.67 billion, a P/E ratio of -32.63 and a beta of 1.29. The stock’s fifty day moving average price is $8.66 and its two-hundred day moving average price is $6.12. Rocket Lab USA, Inc. has a 1 year low of $3.47 and a 1 year high of $12.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.82 and a quick ratio of 2.43.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, August 8th. The rocket manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The firm had revenue of $106.25 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 71.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.10) earnings per share. As a group, analysts expect that Rocket Lab USA, Inc. will post -0.39 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Arjun Kampani sold 28,563 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value of $198,798.48. Following the sale, the general counsel now owns 637,558 shares in the company, valued at approximately $4,437,403.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Adam C. Spice sold 62,512 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $6.96, for a total value 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 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 90 days. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

RKLB has been the topic of several research analyst reports. KeyCorp upped their price objective on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price objective on shares of Rocket Lab USA in a research note on Monday, September 30th. Morgan Stanley downgraded Rocket Lab USA from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $8.00 to $6.00 in a research note on Monday, July 15th. Citigroup upped their price objective on Rocket Lab USA from $5.45 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, JMP Securities initiated coverage on Rocket Lab USA in a research note on Thursday, September 12th. They issued a “market perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Rocket Lab USA currently has an average rating of “Hold” and a consensus target price of $6.89.

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.