Jason Gray Sells 6,222 Shares of Mitek Systems, Inc. (NASDAQ:MITK) Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Jason Gray sold 6,222 shares of Mitek Systems stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total value of $56,433.54. Following the completion of the sale, the insider now owns 164,342 shares in the company, valued at $1,490,581.94. This represents a 3.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mitek Systems Stock Performance

MITK stock opened at $8.90 on Friday. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24. The business’s fifty day moving average price is $9.02 and its 200 day moving average price is $10.00.

Analyst Ratings Changes

MITK has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded Mitek Systems from a “buy” rating to a “hold” rating and reduced their target price for the company from $17.00 to $9.50 in a research report on Wednesday, September 4th. StockNews.com upgraded Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.13.

Institutional Investors Weigh In On Mitek Systems

Large investors have recently bought and sold shares of the stock. EVR Research LP purchased a new stake in Mitek Systems during the 2nd quarter worth about $2,957,000. Marshall Wace LLP boosted its position in shares of Mitek Systems by 251.1% during the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock worth $3,456,000 after acquiring an additional 221,116 shares in the last quarter. Creative Planning acquired a new position in shares of Mitek Systems during the 3rd quarter worth about $152,000. Foundry Partners LLC acquired a new position in shares of Mitek Systems during the 2nd quarter worth about $3,275,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Mitek Systems during the 3rd quarter worth about $680,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Mitek Systems Company Profile

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.