Maria Cervantes de Burgren, Vice President and Financial Controller of Kratos Defense (NASDAQ:) & Security Solutions, Inc. (NASDAQ:KTOS), recently acquired a significant portion of its holdings in the company. According to a recent SEC filing, Cervantes de Burgren sold a total of 19,528 shares on January 7, 2025, at $30 per share, for a total of $585,840.
The transactions were executed as part of a 10b5-1 trading plan, which was adopted on June 6, 2024. Following these sales, Cervantes de Burgren continues to directly own 51,121 shares. The filing also reported additional transactions on January 3 and 4, including the acquisition of shares through vesting of restricted stock units and shares held to cover tax liabilities, totaling $172,904 at a price of $27.48 per share. according to InvestingProKratos maintains a sound financial position with an overall health score of “good,” and analysts have identified 12 additional key insights into the company's performance and outlook.
In other recent news, Kratos Defense & Security Solutions has been awarded a series of important contracts that highlight its growth trajectory and strong financial health. The company received another big award practical (JO:) A potentially $1.45 billion agreement over five years for the Multi-Service Advanced Capability Ultrafast Test Bed (MACH-TB) 2.0, representing the largest contract in the company's history. In addition, Kratos has been awarded a $6.5 million contract from the Defense Advanced Research Projects Agency (DARPA) for hypersonic flight testing.
Kratos is also scheduled to develop a supersonic engine in collaboration with GE Additive and StandardAero, a development fully funded by customer Boom Supersonic. This collaboration is part of a partnership with Boom Supersonic, a startup focused on supersonic travel.
Research companies have recognized the importance of these developments for Kratos. BTIG maintained a Neutral rating on Kratos shares, while Jefferies and… Raymond (NS:) James maintained 'Buy' and 'Strong Buy' ratings on Kratos shares respectively, reflecting a positive outlook on the company's growth potential in the defense sector.
Kratos reported strong Q3 2024 revenue of $275.9 million, representing 8.7% organic growth in unmanned systems and exceeding estimates. The company also expects 10% year-on-year revenue growth for 2025. These latest developments underscore the company's strong financial health and its ability to secure major contracts in the defense sector.
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