United Capital Management of KS Inc. Sells 21,427 Shares of Rocket Lab Corporation $RKLB

United Capital Management of KS Inc. trimmed its holdings in Rocket Lab Corporation (NASDAQ:RKLBFree Report) by 8.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 218,166 shares of the rocket manufacturer’s stock after selling 21,427 shares during the quarter. Rocket Lab accounts for about 1.4% of United Capital Management of KS Inc.’s holdings, making the stock its 23rd biggest holding. United Capital Management of KS Inc.’s holdings in Rocket Lab were worth $10,452,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Rocket Lab in the third quarter worth $25,000. Hara Capital LLC purchased a new position in shares of Rocket Lab in the third quarter worth about $25,000. UMB Bank n.a. increased its holdings in shares of Rocket Lab by 352.5% in the third quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after buying an additional 423 shares during the period. Sound Income Strategies LLC bought a new stake in shares of Rocket Lab in the 3rd quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Rocket Lab by 109.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after acquiring an additional 416 shares during the period. Institutional investors own 71.78% of the company’s stock.

Insider Activity at Rocket Lab

In other news, insider Frank Klein sold 36,768 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total transaction of $2,645,457.60. Following the sale, the insider owned 1,088,237 shares in the company, valued at approximately $78,298,652.15. The trade was a 3.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Arjun Kampani sold 23,711 shares of Rocket Lab stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $71.95, for a total transaction of $1,706,006.45. Following the transaction, the senior vice president directly owned 397,988 shares of the company’s stock, valued at approximately $28,635,236.60. This trade represents a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,344,302 shares of company stock valued at $279,695,404 over the last ninety days. Insiders own 11.90% of the company’s stock.

Rocket Lab News Summary

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

Rocket Lab Price Performance

Shares of NASDAQ RKLB opened at $70.00 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.08 and a quick ratio of 2.83. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $99.58. The company’s 50-day moving average is $77.61 and its 200 day moving average is $61.76. The stock has a market capitalization of $37.39 billion, a P/E ratio of -189.18 and a beta of 2.20.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RKLB shares. Bank of America boosted their price objective on Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Stifel Nicolaus upped their price target on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Needham & Company LLC dropped their price target on shares of Rocket Lab from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Citigroup restated a “market perform” rating on shares of Rocket Lab in a research report on Wednesday, November 12th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $75.00 price objective 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 assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.92.

Check Out Our Latest Research Report on RKLB

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.

Further Reading

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

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