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 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 transaction, the chief executive officer now directly owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. This trade represents a 2.36 % decrease in their position. The transaction was disclosed in a legal 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 transaction of $367,554.54.

AudioEye Trading Down 1.0 %

NASDAQ:AEYE traded down $0.27 on Thursday, reaching $26.16. 250,955 shares of the stock traded hands, compared to its average volume of 180,016. The firm has a market capitalization of $318.63 million, a price-to-earnings ratio of -97.89, a price-to-earnings-growth ratio of 7.63 and a beta of 1.03. AudioEye, Inc. has a 1-year low of $3.97 and a 1-year high of $34.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $23.49 and its 200-day moving average is $21.97.

Institutional Trading of AudioEye

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of AudioEye during the 1st quarter worth approximately $116,000. ClariVest Asset Management LLC bought a new position in shares of AudioEye in the 2nd quarter worth $664,000. Renaissance Technologies LLC lifted its holdings in shares of AudioEye by 202.5% in the 2nd 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of AudioEye by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock worth $3,095,000 after purchasing an additional 6,929 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 51.11% of the company’s stock.

Analyst Ratings Changes

AEYE has been the subject of several recent research reports. HC Wainwright upped their price objective on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Monday. Craig Hallum upped their price objective on AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $35.00 price objective (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price 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.