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

Mitek Systems, Inc. (NASDAQ:MITK) SVP Christopher H. Briggs sold 3,320 shares of Mitek Systems stock in a transaction 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 in the company, valued at approximately $593,405.24. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Mitek Systems Price Performance

MITK stock traded down $0.09 during mid-day trading on Tuesday, hitting $9.14. The company had a trading volume of 416,266 shares, compared to its average volume of 536,739. The company has a market capitalization of $422.27 million, a price-to-earnings ratio of -60.93 and a beta of 1.12. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month 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 company has a 50-day moving average price of $9.00 and a 200 day moving average price of $10.02.

Institutional Trading of Mitek Systems

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its stake in Mitek Systems by 335.6% in the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock worth $679,000 after purchasing an additional 60,256 shares in the last quarter. State Street Corp increased its holdings in shares of Mitek Systems by 3.8% in the 3rd quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock worth $11,326,000 after buying an additional 47,418 shares during the last quarter. Invenomic Capital Management LP bought a new stake in shares of Mitek Systems in the 3rd quarter worth about $4,068,000. Janus Henderson Group PLC increased its holdings 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 during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Mitek Systems in the 3rd quarter worth about $680,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. HC Wainwright lowered their target price on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group cut shares of Mitek Systems from a “buy” rating to a “hold” rating and lowered their target price for the company from $17.00 to $9.50 in a research note on Wednesday, September 4th. Maxim Group lowered their target price on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock 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.