Insider Selling: 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 firm’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 value of $2,013,425.04. Following the completion of the sale, the chief executive officer now directly owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. The trade was a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 2.5 %

AEYE stock opened at $25.51 on Friday. The company has a market capitalization of $310.71 million, a PE ratio of -94.48, a P/E/G ratio of 7.05 and a beta of 1.03. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84. AudioEye, Inc. has a 12 month low of $3.97 and a 12 month high of $34.85. The firm’s 50-day moving average is $23.71 and its 200 day moving average is $22.11.

Hedge Funds Weigh In On AudioEye

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AEYE. HC Wainwright increased their target price on shares of AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Roth Mkm reissued 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. Finally, Craig Hallum upped their target price on AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Four investment 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, the stock currently has a consensus 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.