David Moradi Sells 68,298 Shares of AudioEye, Inc. (NASDAQ:AEYE) Stock

AudioEye, Inc. (NASDAQ:AEYE) CEO David Moradi sold 68,298 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Stock Down 2.5 %

Shares of NASDAQ AEYE opened at $25.51 on Friday. AudioEye, Inc. has a 12-month low of $3.97 and a 12-month high of $34.85. The stock has a market cap of $310.71 million, a P/E ratio of -94.48, a PEG ratio of 7.05 and a beta of 1.03. 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 business’s fifty day simple moving average is $23.71 and its 200-day simple moving average is $22.07.

Hedge Funds Weigh In On AudioEye

Several hedge funds and other institutional investors have recently made changes to their positions in AEYE. Summit Partners Public Asset Management LLC increased its stake in shares of 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 buying an additional 101,302 shares during the period. Renaissance Technologies LLC raised 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 valued at $1,065,000 after purchasing an additional 40,500 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of AudioEye during the 2nd quarter worth $664,000. Bank of New York Mellon Corp acquired a new position in shares of AudioEye during the second quarter worth $348,000. Finally, GSA Capital Partners LLP purchased a new position in AudioEye in the third quarter valued at $416,000. Hedge funds and other institutional investors own 51.11% of the company’s stock.

Wall Street Analysts Forecast Growth

AEYE has been the subject of several research analyst reports. Craig Hallum raised their price target on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a research report 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 boosted 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, November 11th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company 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.