Rocket Lab Corporation $RKLB Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in Rocket Lab Corporation (NASDAQ:RKLB) by 14.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 153,106 shares of the rocket manufacturer’s stock after acquiring an additional 19,304 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Rocket Lab were worth $7,335,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Rocket Lab by 114.0% during the 1st quarter. AQR Capital Management LLC now owns 174,308 shares of the rocket manufacturer’s stock worth $3,117,000 after purchasing an additional 92,849 shares during the period. NewEdge Advisors LLC boosted its holdings in Rocket Lab by 1,812.1% during the first quarter. NewEdge Advisors LLC now owns 36,807 shares of the rocket manufacturer’s stock worth $658,000 after buying an additional 34,882 shares in the last quarter. Jones Financial Companies Lllp grew its position in Rocket Lab by 53.8% during the first quarter. Jones Financial Companies Lllp now owns 15,745 shares of the rocket manufacturer’s stock worth $282,000 after buying an additional 5,507 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Rocket Lab by 13.3% during 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 worth $13,831,000 after buying an additional 90,758 shares during the period. Finally, Focus Partners Wealth increased its holdings in Rocket Lab by 1.0% in the first quarter. Focus Partners Wealth now owns 67,584 shares of the rocket manufacturer’s stock valued at $1,206,000 after buying an additional 681 shares in the last quarter. 71.78% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Lab Price Performance

RKLB opened at $69.89 on Wednesday. Rocket Lab Corporation has a 1 year low of $14.71 and a 1 year high of $99.58. The company’s 50 day simple moving average is $76.19 and its 200 day simple moving average is $59.70. The stock has a market capitalization of $37.33 billion, a PE ratio of -183.92 and a beta of 2.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.83 and a current ratio of 3.18.

Insider Activity at Rocket Lab

In related news, Director Nina Armagno sold 27,314 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $68.21, for a total value of $1,863,087.94. Following the transaction, the director directly owned 108,940 shares of the company’s stock, valued at approximately $7,430,797.40. This trade represents a 20.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Merline Saintil sold 12,500 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $90.00, for a total value of $1,125,000.00. Following the sale, the director directly owned 280,029 shares of the company’s stock, valued at approximately $25,202,610. This trade represents a 4.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,306,150 shares of company stock worth $271,865,732. 11.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RKLB has been the topic of several research analyst reports. Zacks Research lowered Rocket Lab from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. Needham & Company LLC boosted their target price on Rocket Lab from $63.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Bank of America increased their price objective on shares of Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. TD Cowen reissued a “buy” rating on shares of Rocket Lab in a research report on Thursday, January 22nd. Finally, KeyCorp downgraded shares of Rocket Lab from an “overweight” rating to a “sector weight” rating in a research note on Thursday, January 15th. One 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.92.

Rocket Lab Company 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.