Deutsche Bank AG Sells 108,860 Shares of Mitek Systems, Inc. $MITK

Key Points

• Deutsche Bank AG has significantly reduced its stake in Mitek Systems, Inc. by 72.3%, now owning 41,719 shares valued at approximately $344,000.
• In contrast, Impax Asset Management increased its position in Mitek Systems by 70%, acquiring an additional 350,000 shares to hold a total of 850,000 shares worth about $7,012,000.
• Mitek Systems stock has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, with a consensus target price set at $12.17.

Deutsche Bank AG decreased its position in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 72.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 41,719 shares of the software maker's stock after selling 108,860 shares during the period. Deutsche Bank AG owned 0.09% of Mitek Systems worth $344,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MITK. Millennium Management LLC grew its holdings in Mitek Systems by 159.7% during the 4th quarter. Millennium Management LLC now owns 83,390 shares of the software maker's stock valued at $928,000 after purchasing an additional 51,275 shares in the last quarter. Rhumbline Advisers lifted its position in Mitek Systems by 3.8% in the 1st quarter. Rhumbline Advisers now owns 65,999 shares of the software maker's stock valued at $544,000 after purchasing an additional 2,396 shares during the last quarter. Barclays PLC raised its position in shares of Mitek Systems by 5.0% during the 4th quarter. Barclays PLC now owns 82,142 shares of the software maker's stock worth $914,000 after buying an additional 3,933 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Mitek Systems during the 4th quarter worth about $272,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mitek Systems by 3.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,600 shares of the software maker's stock worth $674,000 after buying an additional 1,803 shares in the last quarter. Hedge funds and other institutional investors own 83.64% of the company's stock.

Mitek Systems Price Performance

Mitek Systems stock remained flat at $10.17 during trading hours on Friday. 256,177 shares of the company's stock were exchanged, compared to its average volume of 458,197. The company has a market cap of $464.26 million, a price-to-earnings ratio of 30.82 and a beta of 1.13. The business's fifty day moving average price is $9.74 and its 200 day moving average price is $9.24. Mitek Systems, Inc. has a 52 week low of $6.93 and a 52 week high of $11.78.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $12.17.

Insider Activity at Mitek Systems

In other Mitek Systems news, insider Michael E. Diamond sold 70,352 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $9.77, for a total transaction of $687,339.04. Following the completion of the sale, the insider owned 233,340 shares of the company's stock, valued at $2,279,731.80. This trade represents a 23.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.10% of the company's stock.

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.