Summit Partners Public Asset Management LLC Acquires 101,302 Shares of AudioEye, Inc. (NASDAQ:AEYE)

Summit Partners Public Asset Management LLC lifted its holdings in AudioEye, Inc. (NASDAQ:AEYE) by 24.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 515,279 shares of the company’s stock after buying an additional 101,302 shares during the quarter. Summit Partners Public Asset Management LLC owned about 4.23% of AudioEye worth $11,774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AEYE. MetLife Investment Management LLC bought a new position in shares of AudioEye in the third quarter worth about $54,000. BNP Paribas Financial Markets increased its holdings in shares of AudioEye by 345.4% in the third quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company’s stock valued at $256,000 after purchasing an additional 8,687 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in AudioEye by 7.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,361 shares of the company’s stock worth $511,000 after purchasing an additional 1,477 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised 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 worth $841,000 after purchasing an additional 13,556 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in AudioEye in the 3rd quarter valued at $416,000. Institutional investors and hedge funds own 51.11% of the company’s stock.

Insiders Place Their Bets

In related news, CEO David Moradi sold 14,061 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $26.14, for a total transaction of $367,554.54. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kelly Georgevich sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total transaction 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 $2,580,449. The trade was a 10.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,859 shares of company stock worth $2,684,480. Insiders own 40.70% of the company’s stock.

AudioEye Stock Up 1.9 %

Shares of AudioEye stock opened at $26.80 on Friday. The business has a fifty day simple moving average of $24.52 and a 200 day simple moving average of $22.56. The stock has a market cap of $326.37 million, a PE ratio of -99.26, a price-to-earnings-growth ratio of 6.05 and a beta of 1.03. 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 12 month low of $4.01 and a 12 month high of $34.85.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AEYE. HC Wainwright boosted their target price on 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 set a $35.00 price objective (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $30.13.

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.