Bettis Carr, Executive Chairman and Chairman of the Board at AudioEye Inc. (NASDAQ:AEYE), recently sold 225,000 shares of common stock in a transaction valued at approximately $5.4 million. The shares were sold at a price of $24 each, amid a remarkable year for the company's stock, which has surged over 360% in the past 12 months according to InvestingPro data. Following this sale, Carr holds 200,045 shares indirectly through CSB IV US Holdings LLC, as well as 18,600 shares through Carr Bettis IRA and 451,682 shares directly. The sale was part of a secondary offering managed by Needham & Company, LLC.
In other recent news, AudioEye, Inc. has announced a secondary sale of its shares, with certain stockholders offering up to 1,250,000 shares at $24.00 each. The transaction, led by Needham & Company and supported by Roth Capital Partners (WA:CPAP), is expected to complete soon, pending standard closing conditions. The company reported a record revenue of $8.9 million in its third quarter of 2024, alongside an impressive adjusted EBITDA of $2 million, marking a 23% margin. AudioEye projects its revenues to be between $9.7 million and $9.8 million for the fourth quarter of 2024, indicating a 23.9% growth compared to the previous year. H.C. Wainwright maintained a Buy rating on AudioEye shares and upgraded the price target to $37.00 from $28.00, following the company's strong financial performance. The company has also fortified its balance sheet through its At-the-Market (ATM) offering program, providing flexibility for potential mergers and acquisitions. Lastly, AudioEye's recent acquisition of ADA Site Compliance and strategic partnerships with Finalsite and CivicPlus are expected to significantly boost revenue growth and enhance the company's product offerings.
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