Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by Portolan Capital Management LLC

Portolan Capital Management LLC lowered its position in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 46.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 194,987 shares of the software maker's stock after selling 171,762 shares during the period. Portolan Capital Management LLC owned approximately 0.43% of Mitek Systems worth $2,170,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MITK. Avior Wealth Management LLC increased its position in shares of Mitek Systems by 24.7% during the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock worth $96,000 after purchasing an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Mitek Systems in the fourth quarter valued at about $105,000. Y Intercept Hong Kong Ltd acquired a new stake in Mitek Systems in the fourth quarter worth about $114,000. Lazari Capital Management Inc. purchased a new stake in shares of Mitek Systems during the fourth quarter worth about $117,000. Finally, Kingsview Wealth Management LLC increased its holdings in shares of Mitek Systems by 16.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker's stock valued at $230,000 after acquiring an additional 2,865 shares in the last quarter. Institutional investors own 83.64% of the company's stock.

Mitek Systems Price Performance

Shares of Mitek Systems stock traded down $0.13 during trading hours on Friday, reaching $7.65. 428,367 shares of the company's stock were exchanged, compared to its average volume of 578,410. The business has a fifty day moving average of $8.76 and a two-hundred day moving average of $9.37. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $346.12 million, a P/E ratio of 85.00 and a beta of 1.15. Mitek Systems, Inc. has a 1 year low of $6.93 and a 1 year high of $14.32.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. As a group, research analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity at Mitek Systems

In other Mitek Systems news, CEO Edward H. West acquired 55,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the transaction, the chief executive officer now owns 55,000 shares of the company's stock, valued at $506,550. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MITK shares. StockNews.com lowered shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 11th. Maxim Group raised their target price on Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, HC Wainwright reiterated a "buy" rating and set a $13.00 price target on shares of Mitek Systems in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.88.

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.