Mitek Systems, Inc. (NASDAQ:MITK) Insider Sells $56,433.54 in Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Jason Gray sold 6,222 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the transaction, the insider now directly owns 164,342 shares in the company, valued at approximately $1,490,581.94. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Mitek Systems Trading Down 2.2 %

NASDAQ:MITK traded down $0.20 on Thursday, hitting $8.90. The stock had a trading volume of 361,876 shares, compared to its average volume of 535,658. The company has a fifty day moving average price of $9.02 and a two-hundred day moving average price of $10.00. Mitek Systems, Inc. has a 1-year low of $7.35 and a 1-year high of $16.24. 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 stock has a market cap of $411.22 million, a price-to-earnings ratio of -59.33 and a beta of 1.12.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MITK. Innealta Capital LLC acquired a new position in shares of Mitek Systems in the second quarter worth $32,000. nVerses Capital LLC purchased a new position in shares of Mitek Systems in the 2nd quarter valued at about $57,000. Avior Wealth Management LLC acquired a new position in shares of Mitek Systems during the third quarter worth about $60,000. Squarepoint Ops LLC purchased a new stake in shares of Mitek Systems during the second quarter worth approximately $138,000. Finally, Intech Investment Management LLC acquired a new stake in Mitek Systems in the third quarter valued at approximately $117,000. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MITK. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Jefferies Financial Group downgraded Mitek Systems from a “buy” rating to a “hold” rating and lowered their target price for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mitek Systems presently has a consensus rating of “Moderate Buy” and a consensus 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.