AudioEye, Inc. (NASDAQ:AEYE) Director Sells $3,000,000.00 in Stock

AudioEye, Inc. (NASDAQ:AEYE) Director Jamil A. Tahir sold 125,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total transaction of $3,000,000.00. Following the completion of the sale, the director now directly owns 195,000 shares in the company, valued at approximately $4,680,000. This represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

AudioEye Stock Up 7.2 %

AEYE stock traded up $1.50 during trading on Friday, reaching $22.20. 542,176 shares of the stock were exchanged, compared to its average volume of 186,949. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye, Inc. has a twelve month low of $4.01 and a twelve month high of $34.85. The firm’s 50 day moving average is $24.78 and its 200 day moving average is $22.76. The firm has a market cap of $270.40 million, a P/E ratio of -82.22, a price-to-earnings-growth ratio of 5.90 and a beta of 1.00.

Wall Street Analyst Weigh In

AEYE has been the topic of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $35.00 price target (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th. HC Wainwright raised their target price on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $30.13.

Institutional Investors Weigh In On AudioEye

Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC bought a new position in shares of AudioEye in the third quarter valued at approximately $54,000. CWM LLC purchased a new position in AudioEye in the third quarter worth $93,000. B. Riley Wealth Advisors Inc. grew 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 valued at $130,000 after purchasing an additional 500 shares during the period. Palisades Hudson Asset Management L.P. purchased a new stake in shares of AudioEye during the 2nd quarter valued at $142,000. Finally, Rhumbline Advisers bought a new stake in shares of AudioEye during the 2nd quarter worth $147,000. 51.11% of the stock is owned by institutional investors.

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.