Insider Selling: Mitek Systems, Inc. (NASDAQ:MITK) Insider Sells 4,544 Shares of Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 4,544 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total value of $41,304.96. Following the completion of the transaction, the insider now owns 166,632 shares of the company’s stock, valued at $1,514,684.88. The trade was a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mitek Systems Stock Down 1.0 %

Shares of NASDAQ MITK traded down $0.09 during mid-day trading on Tuesday, hitting $9.14. The company had a trading volume of 416,266 shares, compared to its average volume of 536,739. The company has a market capitalization of $422.27 million, a PE ratio of -60.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46. Mitek Systems, Inc. has a 1-year low of $7.35 and a 1-year high of $16.24. The business’s 50-day simple moving average is $9.00 and its 200 day simple moving average is $10.02.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MITK shares. HC Wainwright decreased their price target on Mitek Systems from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Maxim Group decreased their price target on Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group cut Mitek Systems from a “buy” rating to a “hold” rating and decreased their price target for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. Finally, StockNews.com upgraded Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mitek Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.13.

Institutional Trading of Mitek Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in Mitek Systems in the second quarter valued at $32,000. nVerses Capital LLC raised its stake in Mitek Systems by 25.5% in the third quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock valued at $55,000 after buying an additional 1,300 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in Mitek Systems in the third quarter valued at $60,000. Intech Investment Management LLC purchased a new position in shares of Mitek Systems during the third quarter worth about $117,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Mitek Systems during the second quarter worth about $138,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

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.