State of New Jersey Common Pension Fund D Purchases New Position in Rocket Lab USA, Inc. (NASDAQ:RKLB)

State of New Jersey Common Pension Fund D acquired a new stake in Rocket Lab USA, Inc. (NASDAQ:RKLB) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 126,591 shares of the rocket manufacturer’s stock, valued at approximately $3,224,000.

A number of other hedge funds have also recently added to or reduced their stakes in RKLB. Allworth Financial LP lifted its stake in shares of Rocket Lab USA by 20.5% in the 4th quarter. Allworth Financial LP now owns 11,430 shares of the rocket manufacturer’s stock valued at $291,000 after acquiring an additional 1,946 shares during the last quarter. Principal Securities Inc. grew its position in Rocket Lab USA by 137.3% during the 4th quarter. Principal Securities Inc. now owns 5,356 shares of the rocket manufacturer’s stock worth $136,000 after acquiring an additional 3,099 shares during the last quarter. Rhumbline Advisers increased its holdings in Rocket Lab USA by 2.2% in the 4th quarter. Rhumbline Advisers now owns 479,129 shares of the rocket manufacturer’s stock worth $12,203,000 after purchasing an additional 10,219 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Rocket Lab USA in the fourth quarter valued at about $233,000. Finally, Roman Butler Fullerton & Co. acquired a new stake in shares of Rocket Lab USA during the fourth quarter valued at about $191,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on RKLB. Wells Fargo & Company upped their price objective on Rocket Lab USA from $13.50 to $22.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. TD Cowen upgraded shares of Rocket Lab USA to a “strong-buy” rating in a research report on Thursday, December 19th. Citigroup lifted their price target on shares of Rocket Lab USA from $22.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Bank of America increased their price objective on Rocket Lab USA from $10.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald lifted their target price on Rocket Lab USA from $7.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.28.

Rocket Lab USA Stock Performance

Shares of Rocket Lab USA stock opened at $25.93 on Thursday. The business has a 50-day moving average price of $27.05 and a two-hundred day moving average price of $17.08. Rocket Lab USA, Inc. has a 1-year low of $3.47 and a 1-year high of $33.34. The company has a current ratio of 2.58, a quick ratio of 2.16 and a debt-to-equity ratio of 0.97. The company has a market cap of $12.96 billion, a P/E ratio of -70.08 and a beta of 1.99.

Insider Activity at Rocket Lab USA

In related news, General Counsel Arjun Kampani sold 28,562 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $24.15, for a total transaction of $689,772.30. Following the transaction, the general counsel now directly owns 608,996 shares of the company’s stock, valued at approximately $14,707,253.40. This represents a 4.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nina Armagno sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.63, for a total value of $236,300.00. Following the completion of the sale, the director now directly owns 132,294 shares of the company’s stock, valued at $3,126,107.22. This trade represents a 7.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,530 shares of company stock worth $2,944,700 in the last quarter. Company insiders own 13.70% of the company’s stock.

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.