ExodusPoint Capital Management LP Increases Stock Position in Mitek Systems, Inc. (NASDAQ:MITK)

ExodusPoint Capital Management LP increased its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 24.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,822 shares of the software maker’s stock after buying an additional 12,148 shares during the period. ExodusPoint Capital Management LP owned about 0.14% of Mitek Systems worth $699,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MITK. Avior Wealth Management LLC boosted its stake in shares of Mitek Systems by 24.7% during the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock valued at $96,000 after buying an additional 1,700 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Mitek Systems during the 4th quarter worth $105,000. Y Intercept Hong Kong Ltd acquired a new position in Mitek Systems during the 4th quarter worth $114,000. Lazari Capital Management Inc. bought a new stake in shares of Mitek Systems in the 4th quarter worth about $117,000. Finally, Kingsview Wealth Management LLC raised its stake in shares of Mitek Systems by 16.1% in the 4th quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker’s stock valued at $230,000 after purchasing an additional 2,865 shares in the last quarter. Institutional investors and hedge funds own 83.64% of the company’s stock.

Insider Buying and Selling at Mitek Systems

In other news, CEO Edward H. West acquired 55,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at $506,550. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Maxim Group lifted their price target on Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Mitek Systems has a consensus rating of “Moderate Buy” and an average price target of $12.88.

Mitek Systems Stock Performance

Shares of MITK stock opened at $7.81 on Friday. The company has a market cap of $353.36 million, a P/E ratio of 86.78 and a beta of 1.15. The business has a 50 day moving average of $9.03 and a two-hundred day moving average of $9.40. Mitek Systems, Inc. has a 52 week low of $6.93 and a 52 week high of $16.24. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data 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, analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current year.

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.