Bessemer Group Inc. Sells 49,081 Shares of Rocket Lab USA, Inc. (NASDAQ:RKLB)

Bessemer Group Inc. reduced its position in shares of Rocket Lab USA, Inc. (NASDAQ:RKLB) by 33.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,093 shares of the rocket manufacturer’s stock after selling 49,081 shares during the quarter. Bessemer Group Inc.’s holdings in Rocket Lab USA were worth $2,473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Chicago Partners Investment Group LLC increased its holdings in Rocket Lab USA by 0.4% during the fourth quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer’s stock valued at $2,187,000 after buying an additional 334 shares during the last quarter. Wellington Shields & Co. LLC lifted its position in Rocket Lab USA by 0.5% during the fourth quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer’s stock valued at $1,898,000 after purchasing an additional 383 shares in the last quarter. Signaturefd LLC grew its holdings in Rocket Lab USA by 12.2% during the fourth quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer’s stock valued at $153,000 after purchasing an additional 653 shares during the period. Envestnet Asset Management Inc. increased its position in Rocket Lab USA by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer’s stock worth $554,000 after buying an additional 696 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Rocket Lab USA by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer’s stock valued at $384,000 after buying an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Analyst Ratings Changes

RKLB has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Rocket Lab USA from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Stifel Nicolaus upped their target price on shares of Rocket Lab USA from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Wells Fargo & Company decreased their price target on Rocket Lab USA from $21.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. KeyCorp cut their target price on Rocket Lab USA from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Citigroup lowered their price target on Rocket Lab USA from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, February 28th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.72.

Insider Transactions at Rocket Lab USA

In other news, insider Frank Klein sold 1,835 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.93, for a total value of $36,571.55. Following the completion of the sale, the insider now directly owns 1,417,644 shares of the company’s stock, valued at $28,253,644.92. This trade represents a 0.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 13.70% of the company’s stock.

Rocket Lab USA Stock Performance

NASDAQ RKLB opened at $19.63 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The business has a 50 day simple moving average of $21.18 and a two-hundred day simple moving average of $20.57. The stock has a market capitalization of $8.90 billion, a PE ratio of -53.05 and a beta of 2.08.

Rocket Lab USA (NASDAQ:RKLB) last posted its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million during the quarter, compared to analysts’ expectations of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. On average, research analysts predict that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

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.