Steven S. Fendley, President of the US Division of Kratos Defense (NASDAQ:KTOS) & Security Solutions, Inc. (NASDAQ:KTOS), has sold a portion of his company shares on the open market, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on May 24, involved the sale of 25,000 shares at an average price of $21.44 per share, totaling approximately $536,000.
The sale was conducted under the company's trading policies and was reported in a range of prices from $21.39 to $21.54 per share. Fendley, who is responsible for the management of the US Division, now holds a total of 398,160 shares in the company following the transaction. This figure includes approximately 1,648 shares that are held through the company's 401(k) Plan.
Investors and followers of Kratos Defense will note that executive stock transactions can offer insights into a company's internal workings and the confidence levels of its top management. The details of the exact number of shares sold at each price point within the range are available upon request from the company or the SEC.
Kratos Defense & Security Solutions, Inc. is a company specializing in the production of guided missiles and space vehicles, among other defense and security technologies. With headquarters in San Diego, California, Kratos is known for its innovative solutions catering to the defense sector.
The stock sale by Fendley represents a significant transaction for an individual insider of the company, and as such, it is carefully disclosed and documented for regulatory purposes and public record. The transaction is in compliance with all applicable trading laws and company policies.
InvestingPro Insights
The recent sale of shares by Steven S. Fendley, President of the US Division of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS), comes at a time when the company is showing signs of strategic financial health and market performance. According to InvestingPro data, Kratos holds a market capitalization of $3.23 billion and has experienced a revenue growth of 15.91% over the last twelve months as of Q1 2024. This growth is further underscored by a quarterly revenue growth of 19.59% in Q1 2024.
Investors considering Kratos Defense & Security Solutions should note that the company has been trading near its 52-week high, with a price percentage of the high at 97.78%. Additionally, an InvestingPro Tip highlights that Kratos holds more cash than debt on its balance sheet, which is an encouraging sign for potential investors looking for a company with a solid financial footing.
Moreover, the company's stock has delivered a strong return over the past year, with a one-year price total return of 60.27%, reflecting investor confidence and market appreciation for Kratos' offerings and performance. The InvestingPro Tips also indicate that analysts predict the company will be profitable this year, which may have contributed to the stock's positive momentum.
For investors seeking deeper insights and more tips on Kratos Defense & Security Solutions, there are an additional 12 InvestingPro Tips available, which can be accessed by visiting InvestingPro. To take advantage of these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.