Steven S. Fendley, President of the US Division at Kratos Defense (NASDAQ:KTOS) & Security Solutions, Inc. (NASDAQ:KTOS), sold 7,000 shares of the company's common stock, netting a total of approximately $153,766. The transactions occurred on May 28, 2024, and were executed at a weighted average price of $21.9666 per share, with individual sales prices ranging from $21.75 to $22.39.
The sale was conducted according to a prearranged 10b5-1 trading plan, which Fendley had adopted on June 1, 2023. Such plans allow company insiders to establish a predetermined schedule for buying or selling shares to avoid accusations of trading on insider information.
Following the sale, Fendley's remaining stake in Kratos Defense includes approximately 391,160 shares, of which about 1,648 are held through the company's 401(k) Plan. The details of the sale, including the range of prices at which the shares were sold, have been disclosed in compliance with SEC regulations. Fendley has agreed to provide full information regarding the number of shares sold at each price upon request.
Kratos Defense & Security Solutions, Inc. specializes in advanced defense technology, particularly in the realms of guided missiles and space vehicles. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol KTOS.
InvestingPro Insights
In light of the recent insider stock sale by Steven S. Fendley, President of the US Division at Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), it is pertinent to consider the company's financial health and market performance. According to InvestingPro data, Kratos has a market capitalization of $3.22 billion, with a notable revenue growth of 15.91% over the last twelve months as of Q1 2024. This growth is further accentuated by a quarterly revenue increase of 19.59% in Q1 2024, signaling robust financial progress.
InvestingPro Tips highlight that Kratos holds more cash than debt on its balance sheet and is expected to see net income growth this year. Additionally, the company has received positive revisions from 4 analysts for the upcoming period, which may indicate potential optimism in its financial outlook. It is also worth noting that Kratos has not been profitable over the last twelve months, with a high EBIT valuation multiple, and does not pay dividends to shareholders.
For those interested in a deeper analysis, InvestingPro offers a range of additional tips to consider. There are 11 more InvestingPro Tips available, including insights on profitability expectations and stock performance metrics. For investors seeking to make informed decisions, these tips could be a valuable resource. To explore these further, visit the dedicated page at https://www.investing.com/pro/KTOS and consider using the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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