Insider Selling: Mitek Systems, Inc. (MITK) CEO Sells $328,596.00 in Stock

Mitek Systems, Inc. (NASDAQ:MITK) CEO James B. Debello sold 29,550 shares of the business’s stock in a transaction on Thursday, January 3rd. The shares were sold at an average price of $11.12, for a total transaction of $328,596.00. Following the sale, the chief executive officer now directly owns 591,911 shares in the company, valued at approximately $6,582,050.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

MITK opened at $10.87 on Friday. The firm has a market cap of $418.72 million, a PE ratio of 83.62, a PEG ratio of 3.81 and a beta of -0.47. Mitek Systems, Inc. has a one year low of $6.32 and a one year high of $11.43.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Thursday, November 1st. The software maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The firm had revenue of $21.00 million during the quarter, compared to analyst estimates of $20.09 million. Mitek Systems had a negative net margin of 18.58% and a positive return on equity of 5.49%. The business’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. As a group, sell-side analysts anticipate that Mitek Systems, Inc. will post 0.19 earnings per share for the current fiscal year.



Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Mitek Systems by 12.9% in the second quarter. BlackRock Inc. now owns 2,190,650 shares of the software maker’s stock worth $19,497,000 after acquiring an additional 250,585 shares in the last quarter. Vanguard Group Inc. grew its position in Mitek Systems by 6.8% in the third quarter. Vanguard Group Inc. now owns 1,790,442 shares of the software maker’s stock worth $12,622,000 after acquiring an additional 114,572 shares in the last quarter. Vanguard Group Inc grew its position in Mitek Systems by 6.8% in the third quarter. Vanguard Group Inc now owns 1,790,442 shares of the software maker’s stock worth $12,622,000 after acquiring an additional 114,572 shares in the last quarter. Credit Suisse AG grew its position in Mitek Systems by 429.8% in the third quarter. Credit Suisse AG now owns 1,175,675 shares of the software maker’s stock worth $8,288,000 after acquiring an additional 953,764 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. grew its position in Mitek Systems by 16.5% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 1,058,514 shares of the software maker’s stock worth $7,462,000 after acquiring an additional 149,810 shares in the last quarter. Hedge funds and other institutional investors own 45.76% of the company’s stock.

A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 2nd. BidaskClub raised shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 1st. Benchmark raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, November 27th. Zacks Investment Research raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, November 6th. Finally, National Securities set a $18.00 target price on shares of Mitek Systems and gave the company a “buy” rating in a report on Friday, November 2nd. Three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Mitek Systems presently has a consensus rating of “Buy” and an average price target of $13.67.

TRADEMARK VIOLATION WARNING: “Insider Selling: Mitek Systems, Inc. (MITK) CEO Sells $328,596.00 in Stock” was first published by Dakota Financial News and is the sole property of of Dakota Financial News. If you are viewing this story on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright legislation. The original version of this story can be accessed at https://dakotafinancialnews.com/2019/01/11/insider-selling-mitek-systems-inc-mitk-ceo-sells-328596-00-in-stock.html.

About Mitek Systems

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.

Read More: Day Trading – Risk Worth the Reward?

Insider Buying and Selling by Quarter for Mitek Systems (NASDAQ:MITK)

Receive News & Ratings for Mitek Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply