Insider Buying: AudioCodes (NASDAQ:AUDC) CEO Acquires $17,340.00 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg acquired 2,000 shares of the business’s stock in a transaction on Wednesday, November 11th. The stock was acquired at an average price of $8.67 per share, with a total value of $17,340.00. Following the acquisition, the chief executive officer owned 4,985,192 shares in the company, valued at $43,221,614.64. The trade was a 0.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Shabtai Adlersberg also recently made the following trade(s):

• On Tuesday, November 10th, Shabtai Adlersberg bought 5,000 shares of AudioCodes stock. The stock was acquired at an average cost of $8.46 per share, for a total transaction of $42,300.00.
• On Monday, November 9th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The shares were bought at an average price of $8.38 per share, for a total transaction of $83,800.00.
• On Friday, November 6th, Shabtai Adlersberg purchased 5,939 shares of AudioCodes stock. The stock was bought at an average price of $7.87 per share, with a total value of $46,739.93.
• On Thursday, November 5th, Shabtai Adlersberg purchased 10,000 shares of AudioCodes stock. The stock was bought at an average cost of $7.94 per share, with a total value of $79,400.00.

AudioCodes Price Performance

Shares of NASDAQ:AUDC traded down $0.03 during midday trading on Friday, hitting $9.07. The company had a trading volume of 90,287 shares, compared to its average volume of 124,923. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.74. The stock has a market cap of $211.33 million, a price-to-earnings ratio of 29.26 and a beta of 0.98. The business’s 50-day simple moving average is $10.37 and its 200-day simple moving average is $9.32.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $64.14 million for the quarter, compared to analyst estimates of $63.40 million. AudioCodes had a return on equity of 6.86% and a net margin of 3.16%.

Analyst Upgrades and Downgrades

AUDC has been the topic of several recent research reports. Wall Street Zen cut shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a research report on Monday, November 2nd. One research analyst has rated the stock with a Hold rating. According to MarketBeat, AudioCodes currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AUDC. Heartland Advisors Inc. raised its position in AudioCodes by 5.8% in the third quarter. Heartland Advisors Inc. now owns 970,600 shares of the communications equipment provider’s stock valued at $10,366,000 after purchasing an additional 52,950 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of AudioCodes by 12.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock worth $6,209,000 after purchasing an additional 82,016 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of AudioCodes by 9.0% during the 1st quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider’s stock worth $718,000 after purchasing an additional 7,019 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of AudioCodes during the 2nd quarter worth $592,000. Finally, NewEdge Advisors LLC increased its position in shares of AudioCodes by 49.5% during the 1st quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock worth $215,000 after purchasing an additional 8,475 shares during the last quarter. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

AudioCodes Company Profile

AudioCodes Ltd. develops voice networking and communications technology for businesses, service providers and contact centers. Founded in 1993 and headquartered in Or Yehuda, Israel, the company serves customers globally. Its offerings include session border controllers, media gateways, voice applications and IP phones, as well as software and cloud-based services for unified communications and contact centers. AudioCodes’ products help organizations connect voice communications across traditional telephone networks, IP networks and cloud platforms.