AudioEye, Inc. (NASDAQ:AEYE) Insider Sells $5,400,000.00 in Stock

AudioEye, Inc. (NASDAQ:AEYE) insider Carr Bettis sold 225,000 shares of the firm’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 $5,400,000.00. Following the transaction, the insider now directly owns 200,045 shares of the company’s stock, valued at $4,801,080. The trade was a 52.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

AudioEye Stock Performance

Shares of AudioEye stock traded up $1.50 during midday trading on Friday, hitting $22.20. The company had a trading volume of 542,176 shares, compared to its average volume of 186,949. The stock has a market cap of $270.40 million, a price-to-earnings ratio of -82.22, a PEG ratio of 5.90 and a beta of 1.00. AudioEye, Inc. has a 12-month low of $4.01 and a 12-month high of $34.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The company has a fifty day simple moving average of $24.78 and a 200 day simple moving average of $22.76.

Institutional Investors Weigh In On AudioEye

A number of large investors have recently made changes to their positions in the stock. Summit Partners Public Asset Management LLC lifted its position in AudioEye by 24.5% during the third quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company’s stock valued at $11,774,000 after purchasing an additional 101,302 shares during the period. Vanguard Group Inc. boosted its position in 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. Renaissance Technologies LLC grew its stake in shares of AudioEye by 202.5% during 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 during the period. ClariVest Asset Management LLC acquired a new position in shares of AudioEye in the 2nd quarter valued at $664,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in AudioEye by 58.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock worth $841,000 after buying an additional 13,556 shares in the last quarter. 51.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AEYE. Roth Mkm reissued a “buy” rating and issued a $35.00 price objective (up from $25.00) on shares of AudioEye in a research report on Friday, November 8th. HC Wainwright increased 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. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus 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.