Geode Capital Management LLC Reduces Holdings in AudioEye, Inc. (NASDAQ:AEYE)

Geode Capital Management LLC reduced its holdings in shares of AudioEye, Inc. (NASDAQ:AEYE) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,090 shares of the company’s stock after selling 1,110 shares during the period. Geode Capital Management LLC’s holdings in AudioEye were worth $3,636,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. MetLife Investment Management LLC purchased a new position in AudioEye during the third quarter valued at $54,000. CWM LLC bought a new position in shares of AudioEye during the 3rd quarter valued at approximately $93,000. Rhumbline Advisers purchased a new stake in AudioEye in the 2nd quarter worth approximately $147,000. Total Clarity Wealth Management Inc. bought a new stake in AudioEye during the 2nd quarter worth approximately $221,000. Finally, Barclays PLC lifted its holdings in AudioEye by 37.7% during the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after purchasing an additional 2,788 shares in the last quarter. 51.11% of the stock is currently owned by institutional investors.

Insider Transactions at AudioEye

In other news, insider Carr Bettis sold 225,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total value of $5,400,000.00. Following the sale, the insider now directly owns 200,045 shares in the company, valued at $4,801,080. The trade was a 52.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kelly Georgevich sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the chief financial officer now owns 88,981 shares in the company, valued at $2,580,449. This represents a 10.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,342,859 shares of company stock valued at $32,684,480. 40.70% of the stock is currently owned by insiders.

AudioEye Stock Performance

Shares of NASDAQ AEYE opened at $15.39 on Tuesday. The company has a market cap of $187.42 million, a P/E ratio of -57.00, a P/E/G ratio of 4.29 and a beta of 1.12. AudioEye, Inc. has a 52-week low of $4.52 and a 52-week high of $34.85. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s fifty day moving average is $21.96 and its two-hundred day moving average is $22.03.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEYE. Roth Mkm reaffirmed a “buy” rating and issued a $35.00 target price (up previously from $25.00) on shares of AudioEye in a report on Friday, November 8th. HC Wainwright boosted their price objective on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AudioEye presently 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.