Woodley Farra Manion Portfolio Management Inc. Has $5.66 Million Stock Position in Rocket Lab Corporation $RKLB

Woodley Farra Manion Portfolio Management Inc. grew its position in Rocket Lab Corporation (NASDAQ:RKLB) by 20.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,150 shares of the rocket manufacturer’s stock after purchasing an additional 20,050 shares during the quarter. Woodley Farra Manion Portfolio Management Inc.’s holdings in Rocket Lab were worth $5,661,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RKLB. Vanguard Group Inc. lifted its holdings in shares of Rocket Lab by 5.4% during the third quarter. Vanguard Group Inc. now owns 41,809,723 shares of the rocket manufacturer’s stock worth $2,003,104,000 after buying an additional 2,127,565 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Rocket Lab by 176.1% in the 3rd quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock valued at $580,952,000 after acquiring an additional 7,734,788 shares in the last quarter. Invesco Ltd. lifted its position in shares of Rocket Lab by 67.0% during the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock valued at $223,287,000 after acquiring an additional 2,504,054 shares during the period. Norges Bank bought a new position in shares of Rocket Lab in the second quarter worth $164,751,000. Finally, American Century Companies Inc. lifted its position in Rocket Lab by 6.2% during the second quarter. American Century Companies Inc. now owns 2,251,130 shares of the rocket manufacturer’s stock worth $80,523,000 after purchasing an additional 131,996 shares during the period. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RKLB shares. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Bank of America boosted their target price on Rocket Lab from $60.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Roth Mkm restated a “buy” rating and issued a $75.00 price target on shares of Rocket Lab in a research note on Tuesday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Rocket Lab in a report on Wednesday, December 3rd. Finally, The Goldman Sachs Group increased their price objective on shares of Rocket Lab from $47.00 to $69.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rocket Lab currently has a consensus rating of “Moderate Buy” and an average price target of $72.92.

Insiders Place Their Bets

In other Rocket Lab news, Director Edward H. Frank sold 2,500 shares of Rocket Lab stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $77.39, for a total transaction of $193,475.00. Following the transaction, the director directly owned 142,504 shares of the company’s stock, valued at approximately $11,028,384.56. The trade was a 1.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Merline Saintil sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $90.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the director directly owned 280,029 shares in the company, valued at approximately $25,202,610. The trade was a 4.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,306,150 shares of company stock valued at $271,865,732 over the last ninety days. 11.90% of the stock is currently owned by corporate insiders.

Rocket Lab Trading Up 1.6%

NASDAQ:RKLB traded up $1.22 during mid-day trading on Friday, hitting $77.80. 1,958,321 shares of the company’s stock were exchanged, compared to its average volume of 22,517,684. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. 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 50 day simple moving average of $76.79 and a 200-day simple moving average of $59.92. The firm has a market capitalization of $41.56 billion, a P/E ratio of -199.77 and a beta of 2.16.

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.