Michael E. Diamond Sells 1,509 Shares of Mitek Systems, Inc. (NASDAQ:MITK) Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 1,509 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $9.27, for a total value of $13,988.43. Following the transaction, the insider now directly owns 172,280 shares in the company, valued at $1,597,035.60. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mitek Systems Trading Down 2.2 %

MITK stock opened at $8.90 on Friday. The company’s fifty day moving average price is $9.02 and its 200-day moving average price is $10.00. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46.

Institutional Investors Weigh In On Mitek Systems

A number of hedge funds have recently made changes to their positions in the company. nVerses Capital LLC boosted 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 last quarter. Price T Rowe Associates Inc. MD raised its stake in Mitek Systems by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,027 shares of the software maker’s stock valued at $438,000 after purchasing an additional 1,759 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Mitek Systems by 12.0% during the second quarter. The Manufacturers Life Insurance Company now owns 17,937 shares of the software maker’s stock valued at $201,000 after purchasing an additional 1,923 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Mitek Systems by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock worth $1,134,000 after buying an additional 2,460 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Mitek Systems by 4.0% in the 3rd quarter. Janus Henderson Group PLC now owns 73,752 shares of the software maker’s stock worth $640,000 after buying an additional 2,806 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group cut shares of Mitek Systems from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.