47,351 Shares in AudioEye, Inc. (NASDAQ:AEYE) Purchased by Arcadia Wealth Management Inc.

Arcadia Wealth Management Inc. bought a new stake in AudioEye, Inc. (NASDAQ:AEYE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 47,351 shares of the company's stock, valued at approximately $720,000. AudioEye comprises approximately 0.6% of Arcadia Wealth Management Inc.'s portfolio, making the stock its 26th biggest holding. Arcadia Wealth Management Inc. owned about 0.39% of AudioEye at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in AudioEye in the fourth quarter valued at approximately $36,000. Quarry LP acquired a new stake in shares of AudioEye in the fourth quarter worth $47,000. Wells Fargo & Company MN lifted its stake in shares of AudioEye by 30.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,485 shares of the company's stock worth $68,000 after buying an additional 1,035 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of AudioEye in the fourth quarter worth $153,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of AudioEye in the fourth quarter worth $163,000. 51.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AEYE. HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of AudioEye in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of AudioEye from a "hold" rating to a "buy" rating in a research note on Saturday. B. Riley reduced their price objective on shares of AudioEye from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $25.00 price objective on shares of AudioEye in a research note on Wednesday, April 30th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $26.40.

AudioEye Stock Performance

AudioEye stock traded down $0.19 on Wednesday, hitting $12.55. The company's stock had a trading volume of 76,122 shares, compared to its average volume of 204,891. The firm has a market cap of $156.35 million, a P/E ratio of -46.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.94. 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 company has a fifty day moving average price of $11.78 and a 200-day moving average price of $15.92. AudioEye, Inc. has a one year low of $8.91 and a one year high of $34.85.

Insider Activity

In other news, Director James B. Hawkins bought 13,300 shares of AudioEye stock in a transaction dated Wednesday, March 19th. The shares were bought at an average price of $15.39 per share, for a total transaction of $204,687.00. Following the purchase, the director now owns 114,382 shares of the company's stock, valued at approximately $1,760,338.98. This trade represents a 13.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.80% of the stock is owned by corporate insiders.

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.