Mitek Systems (NASDAQ:MITK) COO Garrett Gafke Sells 21,108 Shares

Mitek Systems, Inc. (NASDAQ:MITK) COO Garrett Gafke sold 21,108 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was 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 approximately $3,466,319.01. This represents a 7.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 Mitek Systems stock opened at $14.26 on Friday. Mitek Systems, Inc. has a 12-month low of $8.53 and a 12-month high of $16.48. The stock has a market cap of $643.97 million, a P/E ratio of 40.74 and a beta of 0.95. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $14.30 and its 200-day moving average is $11.80.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. Mitek Systems had a return on equity of 16.74% and a net margin of 8.74%.The company had revenue of $54.84 million for the quarter, compared to analysts’ expectations of $52.59 million. Equities research analysts predict that Mitek Systems, Inc. will post 0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MITK has been the topic of a number of analyst reports. Jefferies Financial Group upgraded Mitek Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $15.00 in a research note on Friday, February 13th. Zacks Research cut Mitek Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Northland Securities set a $17.00 price objective on Mitek Systems in a research note on Wednesday, April 15th. Wall Street Zen cut Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Mitek Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System acquired a new position in shares of Mitek Systems during the 3rd quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its holdings in shares of Mitek Systems by 320.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,018 shares of the software maker’s stock worth $60,000 after acquiring an additional 4,586 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Mitek Systems by 305.2% during the 4th quarter. State of Alaska Department of Revenue now owns 8,075 shares of the software maker’s stock worth $85,000 after acquiring an additional 6,082 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Mitek Systems by 4,147.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,940 shares of the software maker’s stock worth $97,000 after acquiring an additional 9,706 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in shares of Mitek Systems during the 4th quarter worth approximately $117,000. 83.64% of the stock is owned by institutional investors and hedge funds.

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.