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

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) insider Carr Bettis sold 225,000 shares of AudioEye stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total transaction of $5,400,000.00. Following the sale, the insider now directly owns 200,045 shares of the company's stock, valued at $4,801,080. This represents a 52.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AudioEye Stock Up 7.2 %

Shares of NASDAQ:AEYE traded up $1.50 on Friday, hitting $22.20. 542,176 shares of the company traded hands, compared to its average volume of 186,949. The company has a market cap of $270.40 million, a PE ratio of -82.22, a PEG ratio of 5.90 and a beta of 1.00. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. AudioEye, Inc. has a 52 week low of $4.01 and a 52 week high of $34.85. The stock has a 50 day simple moving average of $24.78 and a 200-day simple moving average of $22.76.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Roth Mkm restated a "buy" rating and issued a $35.00 target price (up previously from $25.00) on shares of AudioEye in a research report on Friday, November 8th. HC Wainwright upped their price objective 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. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AudioEye currently has an average rating of "Buy" and a consensus price target of $30.13.

Hedge Funds Weigh In On AudioEye

Institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC bought a new position in shares of AudioEye during the 3rd quarter valued at approximately $54,000. CWM LLC bought a new stake in shares of AudioEye during the 3rd quarter valued at $93,000. B. Riley Wealth Advisors Inc. lifted its stake 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 valued at $130,000 after buying an additional 500 shares in the last quarter. Palisades Hudson Asset Management L.P. bought a new position in AudioEye in the 2nd quarter worth $142,000. Finally, Rhumbline Advisers purchased a new stake in AudioEye in the 2nd quarter worth $147,000. Hedge funds and other institutional investors own 51.11% of the company's stock.

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.

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