Mitek Systems, Inc. (NASDAQ:MITK) SVP Christopher H. Briggs Sells 3,320 Shares

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

Mitek Systems Stock Down 2.2 %

Mitek Systems stock opened at $8.90 on Friday. Mitek Systems, Inc. has a 52-week low of $7.35 and a 52-week high of $16.24. The company’s 50 day moving average is $9.02 and its two-hundred day moving average is $10.00. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MITK. Innealta Capital LLC acquired a new stake in shares of Mitek Systems in the 2nd quarter valued at $32,000. nVerses Capital LLC increased its holdings in shares of Mitek Systems by 25.5% in the 3rd quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock valued at $55,000 after acquiring an additional 1,300 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of Mitek Systems in the third quarter valued at about $60,000. Intech Investment Management LLC purchased a new stake in Mitek Systems during the 3rd quarter valued at approximately $117,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Mitek Systems during the second quarter worth approximately $138,000. 83.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MITK. 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. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently 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.