White Pine Capital LLC Sells 1,017 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

White Pine Capital LLC trimmed its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,733 shares of the software maker’s stock after selling 1,017 shares during the period. White Pine Capital LLC owned about 0.19% of Mitek Systems worth $921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of Mitek Systems by 335.6% in the third quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after purchasing an additional 60,256 shares during the period. BNP Paribas Financial Markets raised its position in Mitek Systems by 357.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock valued at $716,000 after purchasing an additional 64,509 shares in the last quarter. State Street Corp lifted its holdings in shares of Mitek Systems by 3.8% in the 3rd quarter. State Street Corp now owns 1,306,351 shares of the software maker’s stock worth $11,326,000 after buying an additional 47,418 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Mitek Systems by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock worth $2,280,000 after buying an additional 35,301 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Mitek Systems by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock worth $1,134,000 after buying an additional 2,460 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Maxim Group lifted their price objective on Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Mitek Systems in a report on Tuesday. Finally, StockNews.com cut shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mitek Systems presently has an average rating of “Moderate Buy” and an average target price of $12.88.

Mitek Systems Trading Down 2.6 %

Shares of NASDAQ MITK opened at $10.13 on Friday. The business has a fifty day moving average price of $10.37 and a 200 day moving average price of $9.61. Mitek Systems, Inc. has a 1-year low of $7.35 and a 1-year high of $16.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.39 and a quick ratio of 4.39. The stock has a market capitalization of $458.18 million, a P/E ratio of 168.83 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last issued 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 return on equity of 16.64% and a net margin of 1.90%. Equities research analysts expect that Mitek Systems, Inc. will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jason Gray sold 6,222 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the transaction, the insider now owns 164,342 shares in the company, valued at $1,490,581.94. This represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael E. Diamond sold 4,544 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total transaction of $41,304.96. Following the completion of the transaction, the insider now directly owns 166,632 shares of the company’s stock, valued at $1,514,684.88. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,699 shares of company stock valued at $152,140. 2.10% of the stock is currently owned by insiders.

About Mitek Systems

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.