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

Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 1,104 shares of the stock in a transaction dated 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 sale, the insider now directly owns 171,176 shares in the company, valued at approximately $1,591,936.80. The trade was a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Mitek Systems Price Performance

Shares of MITK opened at $8.90 on Friday. Mitek Systems, Inc. has a 1-year low of $7.35 and a 1-year 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 firm’s 50 day simple moving average is $9.02 and its 200 day simple moving average is $10.00.

Analysts Set New Price Targets

A number of analysts recently weighed in on MITK shares. Jefferies Financial Group lowered shares of Mitek Systems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.13.

Hedge Funds Weigh In On Mitek Systems

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Mitek Systems by 335.6% during the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock worth $679,000 after acquiring an additional 60,256 shares during the last quarter. State Street Corp raised its position in Mitek Systems by 3.8% during the third quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock valued at $11,326,000 after purchasing an additional 47,418 shares in the last quarter. Invenomic Capital Management LP bought a new stake in Mitek Systems during the third quarter worth about $4,068,000. Janus Henderson Group PLC boosted 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 purchasing an additional 2,806 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in shares of Mitek Systems during the 3rd quarter valued at about $680,000. Institutional investors own 83.64% of the company’s stock.

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.