Insider Selling: AudioEye, Inc. (NASDAQ:AEYE) CEO Sells 68,298 Shares of Stock

AudioEye, Inc. (NASDAQ:AEYE) CEO David Moradi sold 68,298 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the completion of the sale, the chief executive officer now directly owns 2,830,035 shares in the company, valued at approximately $83,429,431.80. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

David Moradi also recently made the following trade(s):

• On Thursday, November 14th, David Moradi sold 14,061 shares of AudioEye stock. The stock was sold at an average price of $26.14, for a total transaction of $367,554.54.

AudioEye Stock Performance

Shares of AudioEye stock traded down $0.27 during trading on Thursday, reaching $26.16. The company’s stock had a trading volume of 250,955 shares, compared to its average volume of 180,016. The business’s 50-day moving average price is $23.49 and its 200-day moving average price is $21.97. The firm has a market cap of $318.63 million, a PE ratio of -97.89, a P/E/G ratio of 7.63 and a beta of 1.03. AudioEye, Inc. has a 52 week low of $3.97 and a 52 week high of $34.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92.

Institutional Investors Weigh In On AudioEye

Several institutional investors and hedge funds have recently bought and sold shares of AEYE. Summit Partners Public Asset Management LLC lifted its position in AudioEye by 24.5% during the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock worth $11,774,000 after purchasing an additional 101,302 shares during the period. Renaissance Technologies LLC lifted its position in AudioEye by 202.5% during the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock worth $1,065,000 after purchasing an additional 40,500 shares during the period. ClariVest Asset Management LLC bought a new stake in AudioEye during the second quarter worth about $664,000. Bank of New York Mellon Corp bought a new stake in AudioEye during the second quarter worth about $348,000. Finally, GSA Capital Partners LLP bought a new stake in AudioEye during the third quarter worth about $416,000. Institutional investors own 51.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AEYE. Craig Hallum raised their target price on shares of AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Roth Mkm restated a “buy” rating and set a $35.00 target price (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. Finally, HC Wainwright raised their price target on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AudioEye presently has a consensus rating of “Buy” and an average price target of $30.13.

AudioEye Company Profile

AudioEye, Inc provides patented, internet content publication, distribution software, and related services to Internet and other media to people regardless of their device, location, or disabilities in the United States. Its software and services enable conversion of digital content into accessible formats and allows for real time distribution to end users on any Internet connected device.