This Insider Has Just Sold Shares In Mitek Systems

We note that the Mitek Systems, Inc. (NASDAQ:MITK) GM & Senior VP of Digital Banking, Michael Diamond, recently sold US$66k worth of stock for US$9.16 per share. However we note that the sale only shrunk their holding by 3.1%.

View our latest analysis for Mitek Systems

The Last 12 Months Of Insider Transactions At Mitek Systems

Over the last year, we can see that the biggest insider sale was by the Senior VP of Identity & Head of Products, Chris Briggs, for US$266k worth of shares, at about US$11.10 per share. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. The good news is that this large sale was at well above current price of US$8.90. So it is hard to draw any strong conclusion from it.

Insiders in Mitek Systems didn't buy any shares in the last year. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

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Does Mitek Systems Boast High Insider Ownership?

Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. From our data, it seems that Mitek Systems insiders own 1.4% of the company, worth about US$6.1m. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing!

What Might The Insider Transactions At Mitek Systems Tell Us?

Insiders haven't bought Mitek Systems stock in the last three months, but there was some selling. And there weren't any purchases to give us comfort, over the last year. When you consider that most companies have higher levels of insider ownership, we're a little wary. So we'd only buy after very careful consideration. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. To assist with this, we've discovered 1 warning sign that you should run your eye over to get a better picture of Mitek Systems.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.