Insider Selling: Michael S. Strange Unloads 2,459 Shares of Mitek Systems Stock (MITK)
Mitek Systems (NASDAQ:MITK) CTO Michael S. Strange sold 2,459 shares of Mitek Systems stock on the open market in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $3.15, for a total transaction of $7,745.85. Following the completion of the sale, the chief technology officer now directly owns 48,478 shares of the company’s stock, valued at approximately $152,706. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
MITK has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Mitek Systems from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 29th. They now have a $3.90 price target on the stock.
Mitek Systems (NASDAQ:MITK) opened at 3.07 on Friday. Mitek Systems has a 52-week low of $2.96 and a 52-week high of $7.11. The stock has a 50-day moving average of $3.3 and a 200-day moving average of $4.08. The company’s market cap is $93.6 million.
Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings data on Thursday, July 24th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $4.70 million for the quarter, compared to the consensus estimate of $4.74 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, analysts predict that Mitek Systems will post $-0.24 earnings per share for the current fiscal year.
Mitek Systems, Inc (NASDAQ:MITK) is engaged in the development, sale and service of software solutions related to mobile imaging applications and intelligent recognition software.
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