SAN DIEGO, CA – Kratos Defense (NASDAQ:KTOS) & Security Solutions, Inc. (NASDAQ:KTOS), a company specializing in guided missiles and space vehicles, announced that its Senior Vice President & General Counsel, Marie Mendoza, sold shares in the company. The transaction involved the sale of 1,500 shares of common stock at an average price of $20.1966, resulting in a total sale value of approximately $30,294.
The shares were sold on May 15, 2024, and were part of a pre-arranged 10b5-1 trading plan, which Mendoza had adopted back on March 15, 2021, and subsequently amended on December 4, 2023. The 10b5-1 trading plan allows company insiders to set up a predetermined schedule for buying or selling shares to avoid accusations of insider trading.
According to the filing, the shares sold by Mendoza were traded at prices ranging from $20.17 to $20.25. Following the sale, the SVP & General Counsel still owns 65,515 shares of Kratos Defense & Security Solutions, which includes shares purchased through the company's Employee Stock Purchase Plan and shares held through the company's 401(k) Plan.
Marie Mendoza's sale comes as part of the regular financial planning and portfolio management for individuals in executive positions. The transactions are publicly reported to provide transparency and maintain investor confidence in the market.
Investors and interested parties can obtain further details on the specific number of shares sold at each price upon request from the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
Kratos Defense & Security Solutions, Inc. is headquartered in San Diego, California, and operates in the defense sector, providing advanced engineering, manufacturing, and security solutions for the United States and its allies.
InvestingPro Insights
In light of the recent share sale by Kratos Defense & Security Solutions' Senior Vice President & General Counsel, Marie Mendoza, investors may find it beneficial to consider additional insights provided by InvestingPro. The company, with a market capitalization of $3.16 billion, seems to be in a strong financial position, holding more cash than debt on its balance sheet—an indicator of financial stability which can be reassuring for shareholders.
InvestingPro Tips suggest that Kratos is expected to see net income growth this year, with two analysts having revised their earnings estimates upwards for the upcoming period. This could indicate a positive outlook on the company's financial performance and potential for stock appreciation. Moreover, the company's liquid assets exceed its short-term obligations, which underscores its capability to meet immediate financial liabilities.
From a valuation perspective, Kratos is trading at high EBIT and EBITDA multiples, which might suggest that the stock is priced optimistically relative to its earnings before interest and taxes, as well as its earnings before interest, taxes, depreciation, and amortization. Additionally, the stock is trading near its 52-week high and has shown a strong return over the last month, with a price increase of 19.42%.
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