Mitek Systems, Inc. (NASDAQ:MITK) Stock Position Trimmed by New York Life Investment Management LLC

New York Life Investment Management LLC cut its stake in shares of Mitek Systems, Inc. (NASDAQ:MITKFree Report) by 13.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,068 shares of the software maker’s stock after selling 5,907 shares during the period. New York Life Investment Management LLC owned about 0.08% of Mitek Systems worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Mitek Systems by 4.6% during the second quarter. BlackRock Inc. now owns 3,503,309 shares of the software maker’s stock valued at $37,976,000 after purchasing an additional 153,649 shares in the last quarter. Blue Grotto Capital LLC grew its position in Mitek Systems by 14.6% during the first quarter. Blue Grotto Capital LLC now owns 2,614,842 shares of the software maker’s stock valued at $38,359,000 after purchasing an additional 333,966 shares in the last quarter. Toronado Partners LLC grew its position in Mitek Systems by 6.7% during the first quarter. Toronado Partners LLC now owns 2,606,759 shares of the software maker’s stock valued at $38,241,000 after purchasing an additional 164,284 shares in the last quarter. Vanguard Group Inc. grew its position in Mitek Systems by 7.0% during the third quarter. Vanguard Group Inc. now owns 2,537,572 shares of the software maker’s stock valued at $23,244,000 after purchasing an additional 166,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Mitek Systems by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,024,588 shares of the software maker’s stock valued at $11,107,000 after purchasing an additional 48,995 shares in the last quarter. 74.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 23rd. Craig Hallum assumed coverage on shares of Mitek Systems in a research report on Thursday, December 14th. They issued a “buy” rating and a $17.00 target price for the company.

Read Our Latest Analysis on Mitek Systems

Insiders Place Their Bets

In other news, insider Michael E. Diamond sold 7,242 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $10.86, for a total value of $78,648.12. Following the completion of the sale, the insider now directly owns 266,304 shares in the company, valued at $2,892,061.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Michael E. Diamond sold 7,242 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $10.86, for a total value of $78,648.12. Following the completion of the sale, the insider now directly owns 266,304 shares in the company, valued at $2,892,061.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael E. Diamond sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $10.77, for a total transaction of $32,310.00. Following the transaction, the insider now owns 218,471 shares of the company’s stock, valued at $2,352,932.67. The disclosure for this sale can be found here. Insiders sold 84,527 shares of company stock valued at $921,029 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Mitek Systems Stock Performance

MITK stock opened at $12.71 on Friday. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $579.45 million, a price-to-earnings ratio of 70.61 and a beta of 1.10. Mitek Systems, Inc. has a 12 month low of $8.60 and a 12 month high of $13.98. The firm has a 50 day moving average of $12.37 and a two-hundred day moving average of $11.50.

Mitek Systems Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Mitek Systems (NASDAQ:MITK)

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