Key Points
- Mitek Systems COO Garrett Gafke sold 21,108 shares on May 15 at an average price of $14.19, totaling about $299,523. After the sale, he still owned 244,279 shares, reducing his stake by 7.95%.
- Gafke also sold a much larger block of 152,529 shares on April 28 for about $2.12 million, indicating a pattern of recent insider selling.
- Mitek Systems recently beat quarterly earnings expectations, reporting $0.38 EPS versus the $0.26 consensus and revenue of $54.84 million. Analysts currently have a consensus Hold rating with a $16.00 target price.
Mitek Systems, Inc. (NASDAQ:MITK - Get Free Report) COO Garrett Gafke sold 21,108 shares of the company's stock in a transaction on Friday, May 15th. The shares were sold at an average price of $14.19, for a total value of $299,522.52. Following the completion of the transaction, the chief operating officer directly owned 244,279 shares in the company, valued at approximately $3,466,319.01. This represents a 7.95% decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $13.92, for a total value of $2,123,203.68.
Mitek Systems Stock Performance
Shares of NASDAQ MITK opened at $14.26 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.61 and a quick ratio of 2.61. The stock's fifty day moving average price is $14.30 and its two-hundred day moving average price is $11.80. Mitek Systems, Inc. has a one year low of $8.53 and a one year high of $16.48. The firm has a market cap of $643.97 million, a price-to-earnings ratio of 40.74 and a beta of 0.95.
Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $0.38 EPS for the quarter, beating 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 firm had revenue of $54.84 million for the quarter, compared to analyst estimates of $52.59 million. On average, equities analysts forecast that Mitek Systems, Inc. will post 0.88 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Zacks Research lowered Mitek Systems from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 16th. Wall Street Zen lowered Mitek Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. Jefferies Financial Group raised Mitek Systems from a "hold" rating to a "buy" rating and upped their price objective for the company from $11.00 to $15.00 in a report on Friday, February 13th. Northland Securities set a $17.00 price objective on Mitek Systems in a report on Wednesday, April 15th. Finally, Weiss Ratings raised Mitek Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Mitek Systems currently has a consensus rating of "Hold" and a consensus target price of $16.00.
Read Our Latest Analysis on MITK
Institutional Trading of Mitek Systems
Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new stake in shares of Mitek Systems during the 3rd quarter worth $39,000. Tower Research Capital LLC TRC grew 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 purchasing an additional 4,586 shares in the last quarter. State of Alaska Department of Revenue grew 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 purchasing an additional 6,082 shares in the last quarter. Russell Investments Group Ltd. grew 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 purchasing an additional 9,706 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in shares of Mitek Systems during the 1st quarter worth $140,000. 83.64% of the stock is owned by institutional investors and hedge funds.
Mitek Systems Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
