TD Asset Management Inc Takes Position in Rocket Lab Corporation $RKLB

TD Asset Management Inc acquired a new stake in shares of Rocket Lab Corporation (NASDAQ:RKLB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 74,316 shares of the rocket manufacturer’s stock, valued at approximately $3,560,000.

A number of other large investors also recently bought and sold shares of RKLB. Wilmington Savings Fund Society FSB bought a new stake in Rocket Lab during the 3rd quarter valued at $25,000. Hara Capital LLC purchased a new stake in shares of Rocket Lab during the 3rd quarter worth $25,000. UMB Bank n.a. lifted its stake in shares of Rocket Lab by 352.5% during the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock worth $26,000 after purchasing an additional 423 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Rocket Lab during the third quarter valued at about $27,000. Finally, EverSource Wealth Advisors LLC grew its stake in Rocket Lab by 109.5% in the second quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock valued at $28,000 after purchasing an additional 416 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

Rocket Lab Stock Performance

RKLB opened at $70.09 on Wednesday. The company has a current ratio of 3.18, a quick ratio of 2.83 and a debt-to-equity ratio of 0.32. Rocket Lab Corporation has a 12-month low of $14.71 and a 12-month high of $99.58. The firm has a 50 day moving average of $77.84 and a two-hundred day moving average of $61.63. The firm has a market capitalization of $37.44 billion, a PE ratio of -189.43 and a beta of 2.20.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RKLB shares. Needham & Company LLC lowered their price target on shares of Rocket Lab from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Morgan Stanley raised Rocket Lab from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $67.00 to $105.00 in a research report on Friday, January 16th. Zacks Research cut Rocket Lab from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Citigroup reiterated a “market perform” rating on shares of Rocket Lab in a research note on Wednesday, November 12th. Finally, Roth Mkm reiterated a “buy” rating and issued a $75.00 target price on shares of Rocket Lab in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.92.

Insider Activity at Rocket Lab

In other Rocket Lab news, Director Nina Armagno sold 27,314 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $68.21, for a total value of $1,863,087.94. Following the sale, the director directly owned 108,940 shares of the company’s stock, valued at approximately $7,430,797.40. This represents a 20.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Merline Saintil sold 96,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director directly owned 292,529 shares of the company’s stock, valued at approximately $25,327,160.82. This trade represents a 24.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,138,979 shares of company stock valued at $265,048,346 over the last ninety days. Corporate insiders own 11.90% of the company’s stock.

About Rocket Lab

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.