Mitek Systems, Inc. (NASDAQ:MITK – Get Free Report) COO Garrett Gafke sold 21,108 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $14.19, for a total value of $299,522.52. Following the sale, the chief operating officer owned 244,279 shares in the company, valued at $3,466,319.01. The trade was a 7.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Garrett Gafke also recently made the following trade(s):
- On Tuesday, April 28th, Garrett Gafke sold 152,529 shares of Mitek Systems stock. The stock was sold at an average price of $13.92, for a total value of $2,123,203.68.
Mitek Systems Trading Up 5.1%
Shares of MITK traded up $0.69 during trading hours on Friday, hitting $14.26. The company had a trading volume of 1,317,288 shares, compared to its average volume of 904,756. The firm has a market cap of $643.98 million, a P/E ratio of 40.74 and a beta of 0.95. The stock’s 50 day moving average price is $14.32 and its 200 day moving average price is $11.79. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.20. Mitek Systems, Inc. has a 52-week low of $8.53 and a 52-week high of $16.48.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Jefferies Financial Group upgraded Mitek Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $15.00 in a report on Friday, February 13th. Wall Street Zen downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Northland Securities set a $17.00 price objective on Mitek Systems in a report on Wednesday, April 15th. Finally, Zacks Research downgraded Mitek Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.00.
Read Our Latest Analysis on MITK
Institutional Trading of Mitek Systems
Several large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its stake in shares of Mitek Systems by 9.9% in the first quarter. Renaissance Technologies LLC now owns 430,593 shares of the software maker’s stock worth $5,813,000 after purchasing an additional 38,793 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Mitek Systems in the first quarter worth about $411,000. Bank of Nova Scotia bought a new stake in shares of Mitek Systems in the first quarter worth about $299,000. Sei Investments Co. bought a new stake in shares of Mitek Systems in the first quarter worth about $2,531,000. Finally, Globeflex Capital L P grew its stake in shares of Mitek Systems by 107.3% in the first quarter. Globeflex Capital L P now owns 31,902 shares of the software maker’s stock worth $431,000 after purchasing an additional 16,512 shares during the last quarter. 83.64% of the stock is owned by institutional investors.
Mitek Systems Company Profile
Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.
The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.
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