Jason Gray Sells 6,222 Shares of Mitek Systems, Inc. (NASDAQ:MITK) Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Jason Gray sold 6,222 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the sale, the insider now owns 164,342 shares of the company’s stock, valued at $1,490,581.94. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Mitek Systems Trading Down 1.3 %

Shares of Mitek Systems stock opened at $8.78 on Friday. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24. The firm has a market cap of $405.64 million, a PE ratio of -58.53 and a beta of 1.12. The stock has a fifty day moving average price of $9.02 and a 200-day moving average price of $9.97. 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

Several large investors have recently made changes to their positions in MITK. Innealta Capital LLC purchased a new stake in shares of Mitek Systems during the 2nd quarter valued at $32,000. nVerses Capital LLC increased 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 purchasing an additional 1,300 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Mitek Systems during the 3rd quarter valued at $60,000. Intech Investment Management LLC purchased a new stake in shares of Mitek Systems during the 3rd quarter valued at $117,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Mitek Systems during the 2nd quarter valued at $138,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MITK has been the subject of several recent research reports. Jefferies Financial Group downgraded 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 report on Wednesday, September 4th. StockNews.com upgraded Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.