ARK Investment Management LLC Sells 515,482 Shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

ARK Investment Management LLC trimmed its stake in shares of Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,750,122 shares of the aerospace company’s stock after selling 515,482 shares during the quarter. Kratos Defense & Security Solutions makes up 0.7% of ARK Investment Management LLC’s holdings, making the stock its 29th biggest holding. ARK Investment Management LLC owned about 4.46% of Kratos Defense & Security Solutions worth $116,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Kratos Defense & Security Solutions by 0.4% during the third quarter. Vanguard Group Inc. now owns 11,935,354 shares of the aerospace company’s stock worth $179,269,000 after acquiring an additional 43,559 shares during the last quarter. BlackRock Inc. raised its position in shares of Kratos Defense & Security Solutions by 3.6% during the first quarter. BlackRock Inc. now owns 11,312,186 shares of the aerospace company’s stock worth $152,488,000 after acquiring an additional 396,408 shares during the last quarter. State Street Corp raised its position in shares of Kratos Defense & Security Solutions by 11.8% during the second quarter. State Street Corp now owns 6,217,807 shares of the aerospace company’s stock worth $86,303,000 after acquiring an additional 656,295 shares during the last quarter. Bamco Inc. NY raised its position in shares of Kratos Defense & Security Solutions by 4.6% during the fourth quarter. Bamco Inc. NY now owns 4,302,756 shares of the aerospace company’s stock worth $44,404,000 after acquiring an additional 190,000 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its position in shares of Kratos Defense & Security Solutions by 2.5% during the second quarter. Stephens Investment Management Group LLC now owns 4,211,326 shares of the aerospace company’s stock worth $60,390,000 after acquiring an additional 103,772 shares during the last quarter. 75.92% of the stock is currently owned by institutional investors.

Kratos Defense & Security Solutions Trading Up 1.9 %

NASDAQ KTOS opened at $18.13 on Thursday. Kratos Defense & Security Solutions, Inc. has a 52 week low of $12.12 and a 52 week high of $21.60. The business has a 50 day moving average price of $18.18 and a 200-day moving average price of $17.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.50 and a current ratio of 2.03.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last released its quarterly earnings data on Tuesday, February 13th. The aerospace company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $273.80 million during the quarter, compared to the consensus estimate of $253.39 million. Kratos Defense & Security Solutions had a positive return on equity of 3.01% and a negative net margin of 0.86%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.27 earnings per share for the current year.

Insider Activity at Kratos Defense & Security Solutions

In related news, insider Steven S. Fendley sold 7,000 shares of Kratos Defense & Security Solutions stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $17.34, for a total transaction of $121,380.00. Following the transaction, the insider now owns 352,641 shares of the company’s stock, valued at $6,114,794.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Kratos Defense & Security Solutions news, insider Steven S. Fendley sold 7,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $17.34, for a total value of $121,380.00. Following the transaction, the insider now owns 352,641 shares of the company’s stock, valued at $6,114,794.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Deanna H. Lund sold 6,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.14, for a total value of $120,840.00. Following the completion of the transaction, the chief financial officer now directly owns 153,284 shares in the company, valued at approximately $3,087,139.76. The disclosure for this sale can be found here. Insiders have sold a total of 46,038 shares of company stock valued at $859,359 over the last 90 days. Insiders own 2.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KTOS shares. Benchmark lifted their target price on Kratos Defense & Security Solutions from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 target price on shares of Kratos Defense & Security Solutions in a report on Wednesday, February 14th. Truist Financial lifted their target price on Kratos Defense & Security Solutions from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Finally, The Goldman Sachs Group lifted their target price on Kratos Defense & Security Solutions from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.33.

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc operates as a technology company that addresses the defense, national security, and commercial markets. It operates through two segments, Kratos Government Solutions and Unmanned Systems. The company offers ground systems for satellites and space vehicles, including software for command and control, telemetry, and tracking and control; jet-powered unmanned aerial drone systems, hypersonic vehicles, and rocket systems; propulsion systems for drones, missiles, loitering munitions, supersonic systems, spacecraft, and launch systems; command, control, communication, computing, combat, intelligence surveillance and reconnaissance; and microwave electronic products for missile, radar, missile defense, space, and satellite; counter unmanned aircraft systems, directed energy, communication and other systems, and virtual and augmented reality training systems for the warfighter.