AudioEye, Inc. (NASDAQ:AEYE) CEO David Moradi Sells 900,000 Shares

AudioEye, Inc. (NASDAQ:AEYE) CEO David Moradi sold 900,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total value of $21,600,000.00. Following the completion of the sale, the chief executive officer now owns 1,864,290 shares in the company, valued at approximately $44,742,960. This represents a 32.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 value 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 transaction of $2,013,425.04.

AudioEye Stock Up 7.2 %

Shares of NASDAQ AEYE traded up $1.50 during mid-day trading on Friday, reaching $22.20. The company had a trading volume of 542,176 shares, compared to its average volume of 186,949. AudioEye, Inc. has a 52-week low of $4.01 and a 52-week 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 firm has a 50 day simple moving average of $24.78 and a two-hundred day simple moving average of $22.76. The stock has a market cap of $270.40 million, a P/E ratio of -76.67, a PEG ratio of 5.90 and a beta of 1.00.

Hedge Funds Weigh In On AudioEye

Hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC bought a new stake in AudioEye in the 3rd quarter valued at $54,000. CWM LLC bought a new stake in shares of AudioEye in the 3rd quarter valued at $93,000. Palisades Hudson Asset Management L.P. acquired a new stake in AudioEye in the second quarter valued at approximately $142,000. Rhumbline Advisers purchased a new stake in shares of AudioEye in the second quarter valued at about $147,000. Finally, Barclays PLC raised its holdings in shares of AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company’s stock worth $233,000 after purchasing an additional 2,788 shares during the period. 51.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AEYE. HC Wainwright increased their price target on shares of AudioEye from $28.00 to $37.00 and gave the stock a “buy” rating in a research report 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. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AudioEye currently has a consensus 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.