Insider Selling: AudioEye, Inc. (NASDAQ:AEYE) CFO Sells 10,000 Shares of Stock

AudioEye, Inc. (NASDAQ:AEYE) CFO Kelly Georgevich sold 10,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the chief financial officer now directly owns 88,981 shares of the company’s stock, valued at $2,580,449. This represents a 10.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kelly Georgevich also recently made the following trade(s):

• On Thursday, November 14th, Kelly Georgevich sold 500 shares of AudioEye stock. The shares were sold at an average price of $27.00, for a total transaction of $13,500.00.

AudioEye Stock Down 1.0 %

NASDAQ AEYE traded down $0.27 during mid-day trading on Thursday, reaching $26.16. 250,955 shares of the company’s stock traded hands, compared to its average volume of 180,016. 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 company has a fifty day simple moving average of $23.49 and a 200-day simple moving average of $21.97. AudioEye, Inc. has a 1-year low of $3.97 and a 1-year high of $34.85. The company has a market cap of $318.63 million, a price-to-earnings ratio of -96.89, a P/E/G ratio of 7.63 and a beta of 1.03.

Analysts Set New Price Targets

Several analysts have recently commented on AEYE shares. Craig Hallum increased their price target on shares of AudioEye from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Roth Mkm reaffirmed a “buy” rating and issued a $35.00 price objective (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Finally, HC Wainwright increased their price target on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a report on Monday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $30.13.

Institutional Investors Weigh In On AudioEye

Several institutional investors and hedge funds have recently made changes to their positions in AEYE. Summit Partners Public Asset Management LLC grew its holdings 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 valued at $11,774,000 after purchasing an additional 101,302 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of AudioEye by 2.3% during 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 last quarter. Renaissance Technologies LLC grew its holdings in shares of AudioEye by 202.5% during the second 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 during the last quarter. ClariVest Asset Management LLC bought a new position in shares of AudioEye during the second quarter valued at approximately $664,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in AudioEye by 58.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock valued at $841,000 after purchasing an additional 13,556 shares during the last quarter. 51.11% of the stock is owned by institutional investors and hedge funds.

AudioEye Company Profile

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.