Pinkerton Wealth LLC Invests $1.06 Million in Rocket Lab Corporation $RKLB

Pinkerton Wealth LLC purchased a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,095 shares of the rocket manufacturer’s stock, valued at approximately $1,059,000.

Several other large investors have also recently added to or reduced their stakes in RKLB. Baillie Gifford & Co. boosted its holdings in Rocket Lab by 176.1% in the third quarter. Baillie Gifford & Co. now owns 12,125,910 shares of the rocket manufacturer’s stock worth $580,952,000 after purchasing an additional 7,734,788 shares during the period. Norges Bank acquired a new stake in shares of Rocket Lab during the second quarter worth $164,751,000. Invesco Ltd. lifted its position in shares of Rocket Lab by 67.0% in the 2nd quarter. Invesco Ltd. now owns 6,242,304 shares of the rocket manufacturer’s stock worth $223,287,000 after buying an additional 2,504,054 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Rocket Lab by 5.4% in the 3rd 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 during the last quarter. Finally, Marex Group plc acquired a new position in shares of Rocket Lab in the 2nd quarter valued at about $74,359,000. 71.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RKLB shares. Citigroup reaffirmed a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Wall Street Zen upgraded Rocket Lab from a “sell” rating to a “hold” rating in a research note on Sunday, February 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rocket Lab in a report on Thursday, January 22nd. Roth Mkm reissued a “buy” rating and issued a $75.00 price target on shares of Rocket Lab in a report on Tuesday, November 11th. Finally, KeyCorp lowered Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.92.

Rocket Lab Price Performance

NASDAQ RKLB opened at $71.48 on Tuesday. The company has a 50-day moving average price of $77.63 and a two-hundred day moving average price of $62.44. The stock has a market cap of $38.18 billion, a price-to-earnings ratio of -193.18 and a beta of 2.20. The company has a current ratio of 4.08, a quick ratio of 3.61 and a debt-to-equity ratio of 0.10. Rocket Lab Corporation has a 52 week low of $14.71 and a 52 week high of $99.58.

Insiders Place Their Bets

In related news, CEO Peter Beck sold 1,560,254 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $57.47, for a total value of $89,667,797.38. Following the sale, the chief executive officer directly owned 939,746 shares in the company, valued at $54,007,202.62. This trade represents a 62.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Merline Saintil sold 96,000 shares of Rocket Lab stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $86.58, for a total value of $8,311,680.00. Following the sale, the director directly owned 292,529 shares in the company, valued at $25,327,160.82. The trade was a 24.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,362,428 shares of company stock worth $281,055,579. 11.90% of the stock is owned by company insiders.

Rocket Lab 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.