Insider Selling: AudioEye, Inc. (NASDAQ:AEYE) Director Sells 125,000 Shares of Stock

AudioEye, Inc. (NASDAQ:AEYE - Get Free Report) Director Jamil A. Tahir sold 125,000 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 $3,000,000.00. Following the transaction, the director now directly owns 195,000 shares of the company's stock, valued at approximately $4,680,000. This trade represents a 39.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AudioEye Price Performance

Shares of NASDAQ:AEYE traded up $1.50 during trading on Friday, hitting $22.20. 542,176 shares of the company were exchanged, compared to its average volume of 186,949. AudioEye, Inc. has a 1-year low of $4.01 and a 1-year high of $34.85. The company has a market capitalization of $270.40 million, a P/E ratio of -82.22, a price-to-earnings-growth 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. The business's 50 day moving average is $24.78 and its 200-day moving average is $22.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Roth Mkm reissued a "buy" rating and set a $35.00 target price (up previously from $25.00) on shares of AudioEye in a report on Friday, November 8th. HC Wainwright increased their target price 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. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $30.13.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Summit Partners Public Asset Management LLC increased its position in AudioEye by 24.5% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 515,279 shares of the company's stock valued at $11,774,000 after acquiring an additional 101,302 shares during the period. ClariVest Asset Management LLC acquired a new stake in AudioEye in the second quarter valued at $664,000. Renaissance Technologies LLC raised its position in 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 last quarter. Vanguard Group Inc. lifted 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 buying an additional 6,929 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of AudioEye by 4.0% in 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 during the last quarter. Institutional investors and hedge funds own 51.11% of the company's stock.

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.

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