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Arjun Kampani, Senior Vice President, General Counsel, and Secretary of Rocket Lab USA, Inc. (NASDAQ:RKLB), recently executed significant stock sales amid the stock’s remarkable 343% surge over the past year. According to a recent SEC filing, Kampani sold a total of 34,113 shares over two separate transactions. InvestingPro data shows the company’s market capitalization now stands at $8.2 billion.
On March 14, Kampani sold 28,836 shares at an average price of $18.1814 per share, generating proceeds of approximately $524,394. This sale was part of an automatic "sell-to-cover" transaction to meet tax withholding obligations related to the vesting of restricted stock units.
Subsequently, on March 17, Kampani sold an additional 5,277 shares at an average price of $19.3527 per share, amounting to approximately $102,009. This transaction was executed under a Rule 10b5-1 trading plan established on December 12, 2024.
Following these transactions, Kampani now holds 574,883 shares of Rocket Lab common stock. The sales were carried out without discretion, as they were part of predetermined plans and obligations.
In other recent news, Rocket Lab USA, Inc. has announced a mission to deploy satellites for OroraTech, focusing on wildfire detection. This mission, set to launch from New Zealand, will utilize Rocket Lab’s Electron rocket to deliver eight satellites equipped with advanced thermal infrared cameras. The launch marks Rocket Lab’s fifth mission of the year, emphasizing its capability for rapid deployment of satellites. Additionally, Rocket Lab plans to acquire a majority stake in Mynaric (ETR:M0YNn), a supplier of optical communications terminals, for $75 million, with the acquisition potentially funded through a $500 million at-the-market equity offering. JMP analysts have maintained a Market Perform rating on Rocket Lab, while KeyBanc Capital Markets reaffirmed an Overweight rating with a $28 price target, citing the strategic nature of the Mynaric acquisition and the equity offering. Stifel analysts also reiterated a Buy rating and a $27 price target, highlighting Rocket Lab’s progress on its Neutron rocket development program. The company has introduced new software suites aimed at enhancing space mission autonomy and security, further solidifying its position in the space industry.
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