Westfield Capital Management Co. LP Buys 72,772 Shares of Rocket Lab Corporation $RKLB

Westfield Capital Management Co. LP lifted its stake in Rocket Lab Corporation (NASDAQ:RKLB) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,437,820 shares of the rocket manufacturer’s stock after buying an additional 72,772 shares during the period. Westfield Capital Management Co. LP’s holdings in Rocket Lab were worth $116,796,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new position in Rocket Lab in the 3rd quarter worth approximately $369,000. MAI Capital Management grew its holdings in shares of Rocket Lab by 4,145.1% in the third quarter. MAI Capital Management now owns 3,014 shares of the rocket manufacturer’s stock worth $144,000 after purchasing an additional 2,943 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Rocket Lab in the third quarter worth $123,000. TD Asset Management Inc bought a new stake in Rocket Lab during the 3rd quarter valued at $3,560,000. Finally, Compound Planning Inc. purchased a new stake in Rocket Lab during the 3rd quarter valued at $219,000. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Rocket Lab news, insider Frank Klein sold 100,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $72.95, for a total value of $7,295,000.00. Following the completion of the transaction, the insider owned 1,169,487 shares in the company, valued at approximately $85,314,076.65. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina Armagno sold 27,314 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $68.21, for a total value of $1,863,087.94. Following the transaction, the director directly owned 108,940 shares of the company’s stock, valued at $7,430,797.40. This represents a 20.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,138,979 shares of company stock valued at $265,048,346 over the last 90 days. 11.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Rocket Lab from $63.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. TD Cowen restated a “buy” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a report on Wednesday, November 12th. Morgan Stanley raised Rocket Lab from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $67.00 to $105.00 in a research note on Friday, January 16th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.92.

Rocket Lab Stock Up 0.3%

RKLB stock opened at $70.20 on Thursday. Rocket Lab Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $99.58. The company has a market capitalization of $37.50 billion, a price-to-earnings ratio of -184.74 and a beta of 2.16. The business’s 50 day moving average price is $77.88 and its two-hundred day moving average price is $60.75. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.