Integrated Wealth Concepts LLC Decreases Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Integrated Wealth Concepts LLC trimmed its holdings in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 82.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,473 shares of the rocket manufacturer’s stock after selling 56,905 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Rocket Lab USA were worth $121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of Rocket Lab USA by 4.4% in the third quarter. Victory Capital Management Inc. now owns 40,587 shares of the rocket manufacturer’s stock worth $395,000 after buying an additional 1,709 shares during the last quarter. Wellington Shields & Co. LLC raised its stake in Rocket Lab USA by 3.8% in the 2nd quarter. Wellington Shields & Co. LLC now owns 69,142 shares of the rocket manufacturer’s stock worth $332,000 after acquiring an additional 2,503 shares during the last quarter. Amalgamated Bank lifted its position in Rocket Lab USA by 26.7% during the 2nd quarter. Amalgamated Bank now owns 12,038 shares of the rocket manufacturer’s stock worth $58,000 after acquiring an additional 2,538 shares during the period. Lakeridge Wealth Management LLC grew its stake in Rocket Lab USA by 30.0% during the 3rd quarter. Lakeridge Wealth Management LLC now owns 13,000 shares of the rocket manufacturer’s stock valued at $126,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Rocket Lab USA by 28.7% in the third quarter. Advisors Asset Management Inc. now owns 14,438 shares of the rocket manufacturer’s stock valued at $140,000 after purchasing an additional 3,220 shares during the period. 71.78% of the stock is owned by institutional investors and hedge funds.

Rocket Lab USA Price Performance

NASDAQ:RKLB opened at $24.42 on Friday. 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 52 week low of $3.47 and a 52 week high of $28.10. The stock’s 50-day moving average price is $16.57 and its 200-day moving average price is $9.55. The stock has a market capitalization of $12.21 billion, a PE ratio of -66.00 and a beta of 1.96.

Insider Buying and Selling at Rocket Lab USA

In other news, General Counsel Arjun Kampani sold 28,562 shares of the stock in a transaction that occurred 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 transaction, the general counsel now owns 608,996 shares in the company, valued at $14,707,253.40. This trade represents a 4.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew Ocko sold 2,000,000 shares of Rocket Lab USA stock in a transaction on 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 completion of the sale, the director now directly 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. Over the last three months, insiders have sold 2,114,530 shares of company stock valued at $38,168,400. Company insiders own 13.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RKLB shares. KeyCorp lifted their target price on Rocket Lab USA from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup upped their price objective on shares of Rocket Lab USA from $13.00 to $22.00 and gave the company a “buy” rating in a report on Monday, November 18th. Wells Fargo & Company raised their target price on shares of Rocket Lab USA from $13.50 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America upped their price target on shares of Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald lifted their price objective on Rocket Lab USA from $7.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Rocket Lab USA presently has an average rating of “Moderate Buy” and a consensus price target of $17.44.

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.