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 stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value of $2,013,425.04. Following the sale, the chief executive officer now directly owns 2,830,035 shares in the company, valued at $83,429,431.80. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 value of $367,554.54.

AudioEye Trading Down 2.5 %

AudioEye stock opened at $25.51 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $310.71 million, a PE ratio of -94.48, a price-to-earnings-growth ratio of 7.05 and a beta of 1.03. The stock has a 50-day moving average of $23.71 and a two-hundred day moving average of $22.11. AudioEye, Inc. has a one year low of $3.97 and a one year high of $34.85.

Analysts Set New Price Targets

A number of equities analysts have commented on AEYE shares. HC Wainwright boosted their target price on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Roth Mkm reiterated a “buy” rating and set a $35.00 price objective (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Finally, Craig Hallum increased their target price on shares of AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $30.13.

Hedge Funds Weigh In On AudioEye

Several hedge funds and other institutional investors have recently modified their holdings of AEYE. Vanguard Group Inc. increased its stake in AudioEye by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after purchasing an additional 6,929 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of AudioEye during the first quarter valued at $116,000. Hillsdale Investment Management Inc. acquired a new position in shares of AudioEye in the 1st quarter valued at $137,000. B. Riley Wealth Advisors Inc. raised its stake in AudioEye by 4.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock worth $130,000 after acquiring an additional 500 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in AudioEye during the 2nd quarter worth about $348,000. 51.11% of the stock is owned by hedge funds and other institutional investors.

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.