Insider Selling: Mitek Systems, Inc. (NASDAQ:MITK) Insider Sells 1,509 Shares of Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 1,509 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $9.27, for a total transaction of $13,988.43. Following the transaction, the insider now owns 172,280 shares of the company’s stock, valued at approximately $1,597,035.60. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Mitek Systems Price Performance

Shares of NASDAQ:MITK opened at $9.14 on Wednesday. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $422.27 million, a PE ratio of -60.93 and a beta of 1.12. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The company has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $10.02.

Institutional Investors Weigh In On Mitek Systems

Institutional investors and hedge funds have recently modified their holdings of the company. EVR Research LP purchased a new stake in shares of Mitek Systems in the second quarter worth about $2,957,000. Marshall Wace LLP lifted its holdings 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 worth $3,456,000 after buying an additional 221,116 shares in the last quarter. Creative Planning purchased a new stake in shares of Mitek Systems in the third quarter worth about $152,000. Foundry Partners LLC purchased a new stake in shares of Mitek Systems in the second quarter worth about $3,275,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Mitek Systems in the third quarter worth about $680,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MITK shares. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group lowered shares of Mitek Systems from a “buy” rating to a “hold” rating and cut their target price for the stock from $17.00 to $9.50 in a research report on Wednesday, September 4th. 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, Mitek Systems has a consensus rating of “Moderate Buy” and an average price target 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.