Brighton Jones LLC Has $610,000 Stake in Rocket Lab USA, Inc. (NASDAQ:RKLB)

Brighton Jones LLC reduced its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB) by 34.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,950 shares of the rocket manufacturer’s stock after selling 12,668 shares during the quarter. Brighton Jones LLC’s holdings in Rocket Lab USA were worth $610,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RKLB. Avior Wealth Management LLC boosted its stake in Rocket Lab USA by 478.6% in the fourth quarter. Avior Wealth Management LLC now owns 6,966 shares of the rocket manufacturer’s stock worth $177,000 after purchasing an additional 5,762 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Rocket Lab USA by 134.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,290 shares of the rocket manufacturer’s stock worth $237,000 after buying an additional 5,325 shares in the last quarter. Ariose Capital Management Ltd bought a new stake in Rocket Lab USA during the 4th quarter worth about $1,871,000. Udine Wealth Management Inc. acquired a new stake in Rocket Lab USA in the 4th quarter valued at about $1,342,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Rocket Lab USA by 3.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 91,872 shares of the rocket manufacturer’s stock worth $2,340,000 after acquiring an additional 3,479 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab USA Trading Down 3.8 %

NASDAQ:RKLB opened at $30.36 on Friday. The business’s 50-day simple moving average is $25.29 and its 200-day simple moving average is $14.12. Rocket Lab USA, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $33.34. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. The stock has a market capitalization of $15.18 billion, a PE ratio of -82.05 and a beta of 1.98.

Insiders Place Their Bets

In other news, Director Alexander R. Slusky sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 534,675 shares of the company’s stock, valued at $12,297,525. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank Klein sold 35,968 shares of the business’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 $868,627.20. Following the completion of the sale, the insider now directly owns 1,464,032 shares in the company, valued at approximately $35,356,372.80. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,114,530 shares of company stock worth $38,168,400. Corporate insiders own 13.70% of the company’s stock.

Wall Street Analyst Weigh In

RKLB has been the subject of a number of research reports. Bank of America raised 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. Cantor Fitzgerald boosted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. KeyCorp raised their price target on Rocket Lab USA from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup boosted their price objective on Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Stifel Nicolaus raised their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.06.

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.