Maria Cervantes de Burgreen, Vice President and Corporate Controller at Kratos Defense (NASDAQ:) & Security Solutions, Inc. (NASDAQ:KTOS), recently sold a significant portion of its stake in the company. According to a recent filing with the SEC, Cervantes de Burgreen sold a total of 19,528 shares at $30 per share on January 7, 2025, amounting to $585,840.
The transactions were made as part of the 10b5-1 trading plan, which was adopted on June 6, 2024. Following these sales, Cervantes de Burgreen still directly holds 51,121 shares. The filing also reports additional transactions on Jan. 3 and Jan. 4, including the acquisition of stock through the vesting of restricted stock units and shares held for tax purposes, totaling $172,904 at $27.48 per share. According to InvestingProKratos maintains a healthy financial position with a “GOOD” overall health rating, and analysts have identified 12 additional key insights into the company’s performance and outlook.
In other recent news, Kratos Defense & Security Solutions has secured a number of significant contracts that highlight its growth trajectory and strong financial health. The company was awarded a significant Second Transaction (JO:) A contract potentially worth $1.45 billion over five years for the MultiService Advanced Capability Hypersonic Test Bed (MACH-TB) 2.0, marking the largest contract in the company’s history. Additionally, Kratos secured a $6.5 million contract from the Defense Advanced Research Projects Agency (DARPA) to test hypersonic flight.
Kratos is also set to develop a supersonic engine in collaboration with GE Additive and StandardAero, a development fully funded by the customer, Boom Supersonic. This collaboration is part of a partnership with Boom Supersonic, a startup focused on supersonic jet travel.
Research firms have acknowledged the importance of these developments for Kratos. BTIG maintained a Neutral rating on Kratos shares, while Jefferies i Raymond (NS:) James maintained his Hold and Strong Buy ratings on Kratos stock, reflecting a positive outlook on the company’s growth potential in the defense sector.
Kratos reported strong Q3 2024 revenue of $275.9 million, marking 8.7% organic growth in unmanned systems and beating estimates. The company is also forecasting 10% year-over-year revenue growth to 2025. These recent developments underscore the company’s strong financial health and its ability to secure major contracts within the defense sector.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
