Franklin Resources Inc. Takes Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Franklin Resources Inc. acquired a new position in Rocket Lab USA, Inc. (NASDAQ:RKLB) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,869 shares of the rocket manufacturer’s stock, valued at approximately $107,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RKLB. Citigroup Inc. increased its holdings in shares of Rocket Lab USA by 46.8% in the 3rd quarter. Citigroup Inc. now owns 691,387 shares of the rocket manufacturer’s stock worth $6,727,000 after buying an additional 220,432 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Rocket Lab USA by 22.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,878,357 shares of the rocket manufacturer’s stock worth $28,006,000 after acquiring an additional 532,207 shares in the last quarter. Geode Capital Management LLC increased its stake in Rocket Lab USA by 12.2% in 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 acquiring an additional 898,223 shares during the last quarter. FORA Capital LLC purchased a new stake in Rocket Lab USA during the third quarter valued at about $449,000. Finally, National Bank of Canada FI lifted its stake in 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 worth $490,000 after purchasing an additional 30,178 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab USA Price Performance

Shares of Rocket Lab USA stock opened at $24.96 on Friday. The firm has a market cap of $12.48 billion, a PE ratio of -67.46 and a beta of 1.96. The company’s fifty day simple moving average is $20.87 and its two-hundred day simple moving average is $11.62. The company has a quick ratio of 2.16, a current ratio of 2.58 and a debt-to-equity ratio of 0.97. Rocket Lab USA, Inc. has a 12-month low of $3.47 and a 12-month high of $28.80.

Insider Activity at Rocket Lab USA

In other news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $23.00, for a total value of $1,150,000.00. Following the completion of the sale, the director now directly owns 534,675 shares of the company’s stock, valued at approximately $12,297,525. This trade represents a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $17.73, for a total transaction of $35,460,000.00. Following the transaction, the director now owns 2,351,135 shares in the company, valued at $41,685,623.55. This represents a 45.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,114,530 shares of company stock worth $38,168,400 in the last 90 days. Company insiders own 13.70% of the company’s stock.

Wall Street Analysts Forecast Growth

RKLB has been the topic of several recent research reports. JMP Securities began coverage on Rocket Lab USA in a research report on Thursday, September 12th. They set a “market perform” rating on the stock. KeyCorp lifted their price target on shares of Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Bank of America upped 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. Stifel Nicolaus lifted their target price on shares of Rocket Lab USA from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rocket Lab USA currently has an average rating of “Moderate Buy” and an average target price of $17.44.

Rocket Lab USA Company 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.