Insider Selling: AudioEye, Inc. (NASDAQ:AEYE) CEO Sells 900,000 Shares of Stock

AudioEye, Inc. (NASDAQ:AEYE) CEO David Moradi sold 900,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total transaction of $21,600,000.00. Following the sale, the chief executive officer now directly owns 1,864,290 shares in the company, valued at $44,742,960. This represents a 32.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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.
• On Tuesday, November 12th, David Moradi sold 68,298 shares of AudioEye stock. The stock was sold at an average price of $29.48, for a total value of $2,013,425.04.

AudioEye Stock Up 7.2 %

NASDAQ:AEYE opened at $22.20 on Friday. The company has a market cap of $270.40 million, a price-to-earnings ratio of -82.22, a P/E/G ratio of 6.21 and a beta of 1.00. 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’s fifty day moving average price is $24.75 and its two-hundred day moving average price is $22.73. AudioEye, Inc. has a 52-week low of $4.01 and a 52-week high of $34.85.

Hedge Funds Weigh In On AudioEye

Several large investors have recently made changes to their positions in AEYE. Vanguard Group Inc. raised its holdings in AudioEye by 2.3% during 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 during the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of AudioEye by 4.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 12,975 shares of the company’s stock worth $130,000 after buying an additional 500 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of AudioEye during the second quarter worth approximately $348,000. Palisades Hudson Asset Management L.P. acquired a new position in AudioEye in the second quarter valued at approximately $142,000. Finally, Rhumbline Advisers bought a new position in AudioEye in the second quarter valued at approximately $147,000. Institutional investors and hedge funds own 51.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. HC Wainwright boosted their price objective on AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Roth Mkm reiterated 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. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.