Geode Capital Management LLC Sells 16,130 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Geode Capital Management LLC decreased its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,070,054 shares of the software maker’s stock after selling 16,130 shares during the period. Geode Capital Management LLC owned 2.32% of Mitek Systems worth $9,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Barclays PLC increased its position in Mitek Systems by 335.6% in the 3rd quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after acquiring an additional 60,256 shares in the last quarter. State Street Corp increased its holdings in shares of Mitek Systems by 3.8% in 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 position in Mitek Systems in the 3rd quarter worth approximately $4,068,000. Janus Henderson Group PLC lifted its holdings in Mitek Systems by 4.0% during the 3rd quarter. Janus Henderson Group PLC now owns 73,752 shares of the software maker’s stock worth $640,000 after buying an additional 2,806 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Mitek Systems in the 3rd quarter valued at $680,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Activity at Mitek Systems

In related news, SVP Christopher H. Briggs sold 3,320 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total value of $30,145.60. Following the completion of the sale, the senior vice president now owns 65,353 shares in the company, valued at $593,405.24. This represents a 4.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Gray sold 6,222 shares of Mitek Systems stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the transaction, the insider now owns 164,342 shares in the company, valued at approximately $1,490,581.94. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,699 shares of company stock worth $152,140 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Mitek Systems Stock Performance

MITK stock opened at $11.13 on Thursday. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month 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 company has a market cap of $479.60 million, a P/E ratio of -74.20 and a beta of 1.12. The business’s fifty day moving average is $9.59 and its 200-day moving average is $9.87.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Monday, December 16th. The software maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.16. The firm had revenue of $43.22 million for the quarter, compared to analyst estimates of $41.30 million. Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Equities research analysts forecast that Mitek Systems, Inc. will post 0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Mitek Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 25th. Jefferies Financial Group lowered Mitek Systems from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $17.00 to $9.50 in a research report on Wednesday, September 4th. Finally, HC Wainwright upped their target price on shares of Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mitek Systems presently has a consensus rating of “Buy” and an average price target of $12.63.

Mitek Systems Company Profile

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.