AudioEye, Inc. (NASDAQ:AEYE) CEO Sells $2,013,425.04 in Stock

AudioEye, Inc. (NASDAQ:AEYE) CEO David Moradi sold 68,298 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the completion of the transaction, the chief executive officer now owns 2,830,035 shares in the company, valued at $83,429,431.80. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

AudioEye Price Performance

Shares of NASDAQ:AEYE opened at $25.51 on Friday. AudioEye, Inc. has a one year low of $3.97 and a one year high of $34.85. The stock has a market capitalization of $310.71 million, a price-to-earnings ratio of -94.48, a PEG ratio of 7.05 and a beta of 1.03. The company has a 50-day simple moving average of $23.71 and a 200-day simple moving average of $22.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84.

Institutional Trading of AudioEye

Several institutional investors and hedge funds have recently added to or reduced their stakes in AEYE. Summit Partners Public Asset Management LLC grew its stake in shares of AudioEye by 24.5% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock valued at $11,774,000 after purchasing an additional 101,302 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 purchased a new position in AudioEye in the 2nd quarter valued at $664,000. Bank of New York Mellon Corp acquired a new position in AudioEye in the 2nd quarter valued at $348,000. Finally, GSA Capital Partners LLP purchased a new position in AudioEye during the 3rd quarter worth $416,000. 51.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Craig Hallum upped their price objective 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 reissued a “buy” rating and issued a $35.00 target price (up from $25.00) on shares of AudioEye in a research report on Friday, November 8th. Finally, HC Wainwright lifted their price target on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $30.13.

About AudioEye

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.