Kratos Defense & Security Solutions (NASDAQ:KTOS) Shares Down 2.3% Following Insider Selling

Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)’s share price dropped 2.3% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $58.75 and last traded at $60.56. 2,837,032 shares changed hands during trading, a decline of 36% from the average daily volume of 4,455,043 shares. The stock had previously closed at $61.99.

Specifically, SVP Marie Mendoza sold 1,513 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $64.37, for a total transaction of $97,391.81. Following the transaction, the senior vice president owned 61,976 shares of the company’s stock, valued at $3,989,395.12. This represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Phillip D. Carrai sold 26,500 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $63.25, for a total value of $1,676,125.00. Following the completion of the transaction, the insider owned 182,084 shares of the company’s stock, valued at $11,516,813. The trade was a 12.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In other Kratos Defense & Security Solutions news, CEO Eric M. Demarco sold 300,000 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $64.33, for a total transaction of $19,299,000.00. Following the sale, the chief executive officer directly owned 761,632 shares in the company, valued at approximately $48,995,786.56. The trade was a 28.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citizens Jmp cut their price target on shares of Kratos Defense & Security Solutions from $125.00 to $105.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. BTIG Research boosted their price objective on shares of Kratos Defense & Security Solutions from $100.00 to $104.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group upped their target price on shares of Kratos Defense & Security Solutions from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada reduced their price target on shares of Kratos Defense & Security Solutions from $100.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Citigroup reissued a “market outperform” rating on shares of Kratos Defense & Security Solutions in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.47.

Kratos Defense & Security Solutions Stock Up 1.8%

The firm has a market capitalization of $10.73 billion, a PE ratio of 336.29 and a beta of 1.08. The firm’s 50-day moving average is $52.77 and its 200 day moving average is $66.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.99 and a current ratio of 5.54.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last posted its earnings results on Tuesday, August 4th. The aerospace company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.07. Kratos Defense & Security Solutions had a net margin of 2.03% and a return on equity of 3.07%. The firm had revenue of $458.80 million during the quarter, compared to the consensus estimate of $410.36 million. During the same period last year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was up 30.5% on a year-over-year basis. As a group, research analysts forecast that Kratos Defense & Security Solutions, Inc. will post 0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of KTOS. Royal Bank of Canada raised its position in shares of Kratos Defense & Security Solutions by 22.6% during the 1st quarter. Royal Bank of Canada now owns 190,481 shares of the aerospace company’s stock worth $5,655,000 after purchasing an additional 35,098 shares during the last quarter. Amundi acquired a new stake in Kratos Defense & Security Solutions during the 1st quarter valued at $791,000. NewEdge Advisors LLC increased its position in Kratos Defense & Security Solutions by 64.4% during the first quarter. NewEdge Advisors LLC now owns 1,315 shares of the aerospace company’s stock worth $39,000 after buying an additional 515 shares in the last quarter. Jones Financial Companies Lllp increased its position in Kratos Defense & Security Solutions by 178.0% during the first quarter. Jones Financial Companies Lllp now owns 3,570 shares of the aerospace company’s stock worth $108,000 after buying an additional 2,286 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kratos Defense & Security Solutions by 11.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 393,614 shares of the aerospace company’s stock worth $11,686,000 after acquiring an additional 41,265 shares during the last quarter. 75.92% of the stock is owned by hedge funds and other institutional investors.

Kratos Defense & Security Solutions Company Profile

Kratos Defense & Security Solutions, Inc (NASDAQ: KTOS) is a technology-driven company that specializes in national security and defense solutions for government and military customers. The firm’s core capabilities span unmanned systems, satellite communications, missile defense, cyber security, and directed-energy weapons. Through its integrated approach, Kratos delivers mission-critical products and services designed to enhance operational readiness and support force modernization initiatives.

In the unmanned systems arena, Kratos develops high-performance aerial platforms used as target drones, low-cost attritable aircraft and experimental stealth demonstrators.