Capital Impact Advisors LLC Takes $14.71 Million Position in Rocket Lab Corporation $RKLB

Capital Impact Advisors LLC acquired a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 306,987 shares of the rocket manufacturer’s stock, valued at approximately $14,708,000. Rocket Lab makes up about 3.3% of Capital Impact Advisors LLC’s holdings, making the stock its 12th biggest holding. Capital Impact Advisors LLC owned about 0.06% of Rocket Lab at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of Rocket Lab by 13.6% during the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer’s stock valued at $6,123,000 after purchasing an additional 15,307 shares during the last quarter. Cadent Capital Advisors LLC purchased a new position in Rocket Lab in the 3rd quarter worth about $668,000. Swiss National Bank increased its stake in Rocket Lab by 67.7% in the 3rd quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer’s stock worth $59,582,000 after purchasing an additional 501,830 shares in the last quarter. Orion Porfolio Solutions LLC acquired a new stake in Rocket Lab during the 2nd quarter worth about $1,009,000. Finally, Norges Bank acquired a new stake in Rocket Lab during the 2nd quarter worth about $164,751,000. Institutional investors own 71.78% of the company’s stock.

Wall Street Analyst Weigh In

RKLB has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price target on shares of Rocket Lab in a research report on Friday. Morgan Stanley upgraded shares of Rocket Lab from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $67.00 to $105.00 in a research report on Friday, January 16th. Stifel Nicolaus boosted their target price 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. KeyCorp lowered Rocket Lab from an “overweight” rating to a “sector weight” rating in a report on Thursday, January 15th. Finally, The Goldman Sachs Group raised their target price on Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.92.

Insider Activity

In related news, CFO Adam C. Spice sold 62,744 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $69.59, for a total transaction of $4,366,354.96. Following the completion of the sale, the chief financial officer owned 1,296,824 shares in the company, valued at $90,245,982.16. This represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Beck sold 18,857 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $1,312,258.63. Following the completion of the sale, the chief executive officer directly owned 884,085 shares of the company’s stock, valued at $61,523,475.15. This represents a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 4,347,428 shares of company stock valued at $280,080,579. Insiders own 11.90% of the company’s stock.

Rocket Lab Price Performance

NASDAQ RKLB opened at $68.41 on Friday. The company has a quick ratio of 3.61, a current ratio of 4.08 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $36.54 billion, a PE ratio of -184.89 and a beta of 2.20. Rocket Lab Corporation has a 12-month low of $14.71 and a 12-month high of $99.58. The company has a 50 day moving average price of $77.46 and a two-hundred day moving average price of $62.97.

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.