Mitek Systems, Inc. (NASDAQ:MITK - Get Free Report) insider Michael E. Diamond sold 70,352 shares of Mitek Systems stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $9.77, for a total transaction of $687,339.04. Following the sale, the insider now owns 233,340 shares in the company, valued at $2,279,731.80. This represents a 23.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Mitek Systems Stock Performance
NASDAQ:MITK opened at $9.77 on Wednesday. The stock has a market cap of $441.99 million, a price-to-earnings ratio of 34.89 and a beta of 1.15. Mitek Systems, Inc. has a one year low of $6.93 and a one year high of $13.72. The business's 50-day simple moving average is $8.99 and its 200 day simple moving average is $9.45.
Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. Mitek Systems had a return on equity of 18.85% and a net margin of 7.51%. The company had revenue of $51.93 million for the quarter, compared to the consensus estimate of $47.21 million. Mitek Systems's quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that Mitek Systems, Inc. will post 0.59 EPS for the current year.
Institutional Trading of Mitek Systems
Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Mitek Systems by 1,882.5% in the first quarter. GAMMA Investing LLC now owns 3,053 shares of the software maker's stock valued at $25,000 after acquiring an additional 2,899 shares in the last quarter. Quarry LP acquired a new position in Mitek Systems during the 4th quarter worth $31,000. Canada Pension Plan Investment Board bought a new stake in shares of Mitek Systems in the 4th quarter worth about $39,000. Pandora Wealth Inc. acquired a new stake in shares of Mitek Systems in the 1st quarter valued at about $41,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Mitek Systems in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 83.64% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded shares of Mitek Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $12.88.
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About Mitek Systems
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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.
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