ARK Investment Management LLC Has $92.62 Million Stock Position in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS)

ARK Investment Management LLC cut its holdings in Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) by 14.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,975,028 shares of the aerospace company’s stock after selling 685,780 shares during the period. Kratos Defense & Security Solutions makes up approximately 0.8% of ARK Investment Management LLC’s investment portfolio, making the stock its 29th largest position. ARK Investment Management LLC owned about 2.63% of Kratos Defense & Security Solutions worth $92,618,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Catalyst Capital Advisors LLC raised its holdings in Kratos Defense & Security Solutions by 4.6% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 68,840 shares of the aerospace company’s stock valued at $1,604,000 after acquiring an additional 3,000 shares in the last quarter. Van ECK Associates Corp lifted its position in Kratos Defense & Security Solutions by 19.5% during the third quarter. Van ECK Associates Corp now owns 889,562 shares of the aerospace company’s stock worth $21,358,000 after purchasing an additional 145,462 shares during the period. Farther Finance Advisors LLC grew its stake in Kratos Defense & Security Solutions by 582.3% during the third quarter. Farther Finance Advisors LLC now owns 1,078 shares of the aerospace company’s stock worth $25,000 after buying an additional 920 shares in the last quarter. Stephens Inc. AR raised its position in shares of Kratos Defense & Security Solutions by 19.5% in the 3rd quarter. Stephens Inc. AR now owns 23,476 shares of the aerospace company’s stock valued at $547,000 after buying an additional 3,839 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Kratos Defense & Security Solutions by 56.8% during the 3rd quarter. US Bancorp DE now owns 17,717 shares of the aerospace company’s stock worth $413,000 after acquiring an additional 6,415 shares during the period. 75.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Marie Mendoza sold 1,355 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $20.07, for a total transaction of $27,194.85. Following the transaction, the senior vice president now owns 63,393 shares in the company, valued at approximately $1,272,297.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Phillip D. Carrai sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $20.09, for a total value of $70,315.00. Following the transaction, the insider now owns 276,091 shares in the company, valued at $5,546,668.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marie Mendoza sold 1,355 shares of Kratos Defense & Security Solutions stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $20.07, for a total transaction of $27,194.85. Following the transaction, the senior vice president now directly owns 63,393 shares in the company, valued at $1,272,297.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,091 shares of company stock valued at $1,739,101 over the last ninety days. 2.27% of the stock is owned by corporate insiders.

Kratos Defense & Security Solutions Stock Down 1.9 %

Kratos Defense & Security Solutions stock opened at $23.82 on Friday. The firm has a 50 day moving average price of $23.57 and a two-hundred day moving average price of $21.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.56 and a current ratio of 3.13. Kratos Defense & Security Solutions, Inc. has a 52-week low of $16.71 and a 52-week high of $25.91. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 340.29 and a beta of 1.02.

Kratos Defense & Security Solutions (NASDAQ:KTOS) last released its earnings results on Wednesday, August 7th. The aerospace company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05. The business had revenue of $300.10 million during the quarter, compared to analysts’ expectations of $276.08 million. Kratos Defense & Security Solutions had a return on equity of 3.92% and a net margin of 0.89%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. Equities analysts predict that Kratos Defense & Security Solutions, Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Robert W. Baird raised their target price on Kratos Defense & Security Solutions from $22.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Truist Financial reaffirmed a “buy” rating and issued a $27.00 price objective (up from $25.00) on shares of Kratos Defense & Security Solutions in a research note on Thursday, September 26th. JMP Securities reissued a “market outperform” rating and issued a $27.00 target price on shares of Kratos Defense & Security Solutions in a report on Tuesday, October 1st. B. Riley downgraded shares of Kratos Defense & Security Solutions from a “buy” rating to a “neutral” rating and raised their price target for the company from $24.00 to $26.00 in a research note on Wednesday, October 30th. Finally, Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Kratos Defense & Security Solutions in a research report on Friday, September 13th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.10.

Kratos Defense & Security Solutions Profile

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.