Mitek Systems, Inc. (NASDAQ:MITK) SVP Sells $30,145.60 in Stock

Mitek Systems, Inc. (NASDAQ:MITK) SVP Christopher H. Briggs sold 3,320 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total value of $30,145.60. Following the completion of the transaction, the senior vice president now directly owns 65,353 shares in the company, valued at approximately $593,405.24. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Mitek Systems Stock Down 1.0 %

Mitek Systems stock opened at $9.14 on Wednesday. The stock’s 50 day moving average price is $9.00 and its 200 day moving average price is $10.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46. The company has a market cap of $422.27 million, a PE ratio of -60.93 and a beta of 1.12. Mitek Systems, Inc. has a 1-year low of $7.35 and a 1-year high of $16.24.

Institutional Trading of Mitek Systems

A number of institutional investors have recently bought and sold shares of MITK. Thompson Siegel & Walmsley LLC boosted its position in Mitek Systems by 259.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock worth $8,567,000 after purchasing an additional 553,379 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of Mitek Systems in the third quarter valued at $4,068,000. Foundry Partners LLC purchased a new stake in shares of Mitek Systems in the second quarter valued at $3,275,000. EVR Research LP purchased a new stake in shares of Mitek Systems in the second quarter valued at $2,957,000. Finally, Marshall Wace LLP lifted its position in shares of Mitek Systems by 251.1% in the second quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock valued at $3,456,000 after acquiring an additional 221,116 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group lowered Mitek Systems from a “buy” rating to a “hold” rating and dropped their target price for the company from $17.00 to $9.50 in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Mitek Systems has a consensus rating of “Moderate Buy” and a consensus target price of $12.13.

About Mitek Systems

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.