Summit Partners Public Asset Management LLC Has $11.77 Million Holdings in AudioEye, Inc. (NASDAQ:AEYE)

Summit Partners Public Asset Management LLC increased its stake in shares of AudioEye, Inc. (NASDAQ:AEYE) by 24.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 515,279 shares of the company’s stock after acquiring an additional 101,302 shares during the period. Summit Partners Public Asset Management LLC’s holdings in AudioEye were worth $11,774,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of AudioEye by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 309,190 shares of the company’s stock valued at $3,095,000 after purchasing an additional 6,929 shares during the period. Renaissance Technologies LLC raised its position in AudioEye by 202.5% in the 2nd quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock valued at $1,065,000 after buying an additional 40,500 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in AudioEye in the 2nd quarter valued at approximately $664,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in AudioEye by 58.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 36,824 shares of the company’s stock worth $841,000 after acquiring an additional 13,556 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of AudioEye by 130.6% during the 2nd quarter. Acadian Asset Management LLC now owns 26,939 shares of the company’s stock worth $473,000 after acquiring an additional 15,256 shares in the last quarter. 51.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. HC Wainwright boosted their price objective 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. Roth Mkm restated a “buy” rating and set a $35.00 price objective (up from $25.00) on shares of AudioEye in a research note on Friday, November 8th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AudioEye has an average rating of “Buy” and an average target price of $30.13.

Insider Buying and Selling at AudioEye

In related news, CFO Kelly Georgevich sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the chief financial officer now directly owns 88,981 shares of the company’s stock, valued at approximately $2,580,449. The trade was a 10.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Moradi sold 68,298 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $29.48, for a total value of $2,013,425.04. Following the sale, the chief executive officer now directly owns 2,830,035 shares of the company’s stock, valued at $83,429,431.80. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,859 shares of company stock worth $2,684,480 over the last quarter. 40.70% of the stock is currently owned by insiders.

AudioEye Price Performance

NASDAQ:AEYE opened at $26.80 on Friday. The stock has a market capitalization of $326.37 million, a PE ratio of -99.26, a P/E/G ratio of 6.05 and a beta of 1.03. AudioEye, Inc. has a 1-year low of $4.01 and a 1-year high of $34.85. The firm has a fifty day simple moving average of $24.52 and a 200 day simple moving average of $22.56. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92.

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.