Summit Partners Public Asset Management LLC Raises Stock Position in AudioEye, Inc. (NASDAQ:AEYE)

Summit Partners Public Asset Management LLC raised its position in AudioEye, Inc. (NASDAQ:AEYE - Free Report) by 24.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 515,279 shares of the company's stock after purchasing an additional 101,302 shares during the period. Summit Partners Public Asset Management LLC owned 4.23% of AudioEye worth $11,774,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. MetLife Investment Management LLC purchased a new stake in shares of AudioEye in the third quarter worth $54,000. BNP Paribas Financial Markets increased its stake in AudioEye by 345.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company's stock worth $256,000 after acquiring an additional 8,687 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of AudioEye by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company's stock valued at $511,000 after acquiring an additional 1,477 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of AudioEye by 58.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company's stock valued at $841,000 after acquiring an additional 13,556 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of AudioEye during the third quarter worth about $416,000. 51.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David Moradi sold 14,061 shares of AudioEye stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $26.14, for a total value of $367,554.54. Following the transaction, the chief executive officer now owns 2,764,290 shares in the company, valued at approximately $72,258,540.60. The trade was a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly Georgevich sold 10,000 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the sale, the chief financial officer now directly owns 88,981 shares of the company's stock, valued at approximately $2,580,449. This trade represents a 10.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,859 shares of company stock valued at $2,684,480. 40.70% of the stock is currently owned by corporate insiders.

AudioEye Price Performance

NASDAQ:AEYE traded up $0.12 during mid-day trading on Friday, reaching $26.92. The stock had a trading volume of 79,754 shares, compared to its average volume of 178,534. The stock has a market capitalization of $327.89 million, a P/E ratio of -99.26, a P/E/G ratio of 6.13 and a beta of 1.03. The firm has a 50 day moving average price of $24.59 and a two-hundred day moving average price of $22.59. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. AudioEye, Inc. has a one year low of $4.01 and a one year high of $34.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Roth Mkm reaffirmed a "buy" rating and issued a $35.00 target price (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. HC Wainwright raised their price objective on shares of AudioEye from $28.00 to $37.00 and gave the company a "buy" rating in a research report on Monday, November 11th. 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, AudioEye presently has an average rating of "Buy" and a consensus price target of $30.13.

AudioEye 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.