Mitek Systems, Inc. (NASDAQ:MITK) Insider Michael E. Diamond Sells 1,104 Shares

Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 1,104 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $9.30, for a total transaction of $10,267.20. Following the completion of the transaction, the insider now owns 171,176 shares in the company, valued at $1,591,936.80. The trade was a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Mitek Systems Price Performance

Mitek Systems stock opened at $9.14 on Wednesday. The firm has a 50-day moving average price of $9.00 and a 200-day moving average price of $10.02. The firm has a market capitalization of $422.27 million, a PE ratio of -60.93 and a beta of 1.12. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24.

Institutional Investors Weigh In On Mitek Systems

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Mitek Systems by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker’s stock worth $18,531,000 after acquiring an additional 128,282 shares during the last quarter. State Street Corp lifted its holdings in Mitek Systems by 3.8% during the 3rd quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock valued at $11,326,000 after buying an additional 47,418 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Mitek Systems by 259.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock valued at $8,567,000 after buying an additional 553,379 shares in the last quarter. LSV Asset Management lifted its holdings in Mitek Systems by 0.4% during the 2nd quarter. LSV Asset Management now owns 738,799 shares of the software maker’s stock valued at $8,260,000 after buying an additional 2,900 shares in the last quarter. Finally, Invenomic Capital Management LP bought a new stake in Mitek Systems during the 3rd quarter valued at about $4,068,000. Institutional investors own 83.64% of the company’s stock.

Wall Street Analyst Weigh In

MITK has been the subject of a number of analyst reports. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Jefferies Financial Group cut shares of Mitek Systems from a “buy” rating to a “hold” rating and reduced their price objective 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.13.

Mitek Systems Company Profile

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.