Arjun Kampani Sells 28,761 Shares of Rocket Lab (NASDAQ:RKLB) Stock

Rocket Lab Corporation (NASDAQ:RKLBGet Free Report) SVP Arjun Kampani sold 28,761 shares of Rocket Lab stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total transaction of $2,001,477.99. Following the transaction, the senior vice president directly owned 421,699 shares of the company’s stock, valued at approximately $29,346,033.41. This trade represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Arjun Kampani also recently made the following trade(s):

  • On Wednesday, March 4th, Arjun Kampani sold 23,711 shares of Rocket Lab stock. The stock was sold at an average price of $71.95, for a total transaction of $1,706,006.45.

Rocket Lab Price Performance

RKLB stock opened at $70.00 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.83 and a current ratio of 4.08. The firm has a 50 day moving average price of $77.61 and a 200-day moving average price of $61.76. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $99.58. The firm has a market capitalization of $37.39 billion, a price-to-earnings ratio of -189.18 and a beta of 2.20.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RKLB. Wilmington Savings Fund Society FSB purchased a new stake in Rocket Lab in the third quarter worth approximately $25,000. Hara Capital LLC bought a new position in shares of Rocket Lab during the 3rd quarter valued at $25,000. Aventura Private Wealth LLC purchased a new position in shares of Rocket Lab in the 4th quarter worth $25,000. UMB Bank n.a. grew 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 acquiring an additional 423 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in Rocket Lab during the third quarter valued at $27,000. 71.78% of the stock is owned by hedge funds and other institutional investors.

Rocket Lab News Summary

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup reissued a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Stifel Nicolaus raised their price objective on shares of Rocket Lab from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Cantor Fitzgerald upped their target price on shares of Rocket Lab from $72.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Morgan Stanley raised shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $67.00 to $105.00 in a research report on Friday, January 16th. Finally, Citizens Jmp restated a “market perform” rating on shares of Rocket Lab in a report on Friday, February 27th. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rocket Lab has an average rating of “Moderate Buy” and a consensus target price of $75.92.

Read Our Latest Analysis on RKLB

About Rocket Lab

(Get 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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Insider Buying and Selling by Quarter for Rocket Lab (NASDAQ:RKLB)

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