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 Mitek Systems stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total transaction of $30,145.60. Following the transaction, the senior vice president now owns 65,353 shares of the company’s stock, valued at $593,405.24. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mitek Systems Stock Performance

NASDAQ:MITK traded down $0.09 during trading hours on Tuesday, reaching $9.14. The company had a trading volume of 416,266 shares, compared to its average volume of 536,739. 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 52 week low of $7.35 and a 52 week high of $16.24. The firm has a market cap of $422.27 million, a price-to-earnings ratio of -60.93 and a beta of 1.12. The firm’s 50 day moving average price is $9.00 and its 200-day moving average price is $10.02.

Institutional Investors Weigh In On Mitek Systems

A number of large investors have recently added to or reduced their stakes in MITK. Innealta Capital LLC bought a new stake in shares of Mitek Systems during the 2nd quarter valued at $32,000. nVerses Capital LLC grew its position in shares of Mitek Systems by 25.5% during 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 bought a new stake in shares of Mitek Systems during the 3rd quarter valued at $60,000. Intech Investment Management LLC bought a new stake in shares of Mitek Systems during the 3rd quarter valued at $117,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Mitek Systems during the 2nd quarter valued at $138,000. Institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MITK. Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and reduced their price target for the company from $17.00 to $9.50 in a research report on Wednesday, September 4th. HC Wainwright reduced their price target on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Maxim Group reduced their price target on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.