Darden Wealth Group Inc Has $5.04 Million Stock Holdings in Rocket Lab Corporation $RKLB

Darden Wealth Group Inc grew its holdings in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 28.4% during the third quarter, Holdings Channel.com reports. The firm owned 105,170 shares of the rocket manufacturer’s stock after acquiring an additional 23,270 shares during the quarter. Rocket Lab accounts for about 2.6% of Darden Wealth Group Inc’s portfolio, making the stock its 7th biggest position. Darden Wealth Group Inc’s holdings in Rocket Lab were worth $5,039,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Rocket Lab by 114.0% in the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock valued at $3,117,000 after buying an additional 92,849 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Rocket Lab by 1,812.1% in the 1st quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock valued at $658,000 after acquiring an additional 34,882 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Rocket Lab by 53.8% in the 1st quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock valued at $282,000 after acquiring an additional 5,507 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Rocket Lab by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 773,548 shares of the rocket manufacturer’s stock valued at $13,831,000 after acquiring an additional 90,758 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Rocket Lab by 1.0% during the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock worth $1,206,000 after acquiring an additional 681 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.

Rocket Lab Trading Down 7.5%

Shares of Rocket Lab stock opened at $70.86 on Friday. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $99.58. The company has a market capitalization of $37.85 billion, a price-to-earnings ratio of -186.47 and a beta of 2.16. The business has a fifty day simple moving average of $76.97 and a two-hundred day simple moving average of $60.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.18 and a quick ratio of 2.83.

Analysts Set New Price Targets

A number of research firms have weighed in on RKLB. Weiss Ratings restated a “sell (d-)” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Lab in a research note on Wednesday, December 3rd. Needham & Company LLC boosted their target price on shares of Rocket Lab from $63.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. The Goldman Sachs Group increased their price target 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. Finally, Citigroup reissued a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $72.92.

View Our Latest Stock Analysis on Rocket Lab

Key Rocket Lab News

Here are the key news stories impacting Rocket Lab this week:

Insider Buying and Selling at Rocket Lab

In related news, CFO Adam C. Spice sold 1,365,665 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $75.50, for a total value of $103,107,707.50. Following the transaction, the chief financial officer owned 1,359,568 shares in the company, valued at approximately $102,647,384. This represents a 50.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward H. Frank sold 2,500 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $77.39, for a total transaction of $193,475.00. Following the completion of the transaction, the director directly owned 142,504 shares in the company, valued at approximately $11,028,384.56. This represents a 1.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,290,517 shares of company stock worth $271,240,100 in the last ninety days. Insiders own 11.90% of the company’s stock.

Rocket Lab Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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