Audioeye (NASDAQ:AEYE) Director Sells Shares Amidst Impressive Yearly Growth

• Director and CEO Moradi David sold 6,718 shares of Audioeye at $26.54 each, retaining 2,764,501 shares.
• Audioeye's stock has surged by 521% year-to-date, outperforming the Zacks Computer and Technology sector and competitors.
• The company reported a revenue increase of 8.6% for the nine months ending September 30, 2024, with customer base growing by 18%.

On November 14, 2024, Moradi David, the director, 10 percent owner, and CEO of Audioeye (NASDAQ:AEYE), sold 6,718 shares of Common Stock at about $26.54 each. This transaction, classified as an S-Sale, leaves him with 2,764,501 shares. Audioeye, a company focused on digital accessibility solutions, has seen its stock rise significantly this year.

Audioeye's shares have surged by 521% year-to-date, far outpacing the Zacks Computer and Technology sector's 30% increase. This growth also exceeds the performance of competitors like Synchronoss Technologies, Fortinet Inc., and Aspen Technology, which saw gains of 87%, 66%, and 12.9%, respectively. The stock's impressive rise is largely due to strong revenue growth and an expanding customer base.

For the nine months ending September 30, 2024, Audioeye's revenues increased by 8.6% year-over-year, reaching $25.5 million. This growth was driven by a rise in customers across its Partner and Marketplace, and Enterprise channels. By the end of September 2024, the company's customer base grew by 18% year-over-year, totaling 126,000 customers.

Despite these achievements, there are concerns about AEYE's valuation and competition. The stock is currently priced at $26.16, down 1.02% or $0.27. During the trading day, it fluctuated between $25.15 and $27.63. Over the past year, AEYE's stock has ranged from a high of $34.85 to a low of $3.97.

Audioeye's market capitalization is approximately $318.6 million, and today's trading volume is 249,426 shares. While the company has shown strong growth, it faces challenges in maintaining its momentum amid market competition and valuation concerns.