AudioCodes (NASDAQ:AUDC) CEO Purchases $79,400.00 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg purchased 10,000 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was acquired at an average price of $7.94 per share, with a total value of $79,400.00. Following the completion of the acquisition, the chief executive officer directly owned 4,962,253 shares in the company, valued at $39,400,288.82. The trade was a 0.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, November 6th, Shabtai Adlersberg purchased 5,939 shares of AudioCodes stock. The shares were acquired at an average cost of $7.87 per share, for a total transaction of $46,739.93.

AudioCodes Price Performance

AUDC stock opened at $7.85 on Monday. AudioCodes Ltd. has a 52-week low of $6.95 and a 52-week high of $11.74. The stock’s fifty day simple moving average is $10.50 and its 200-day simple moving average is $9.31. The stock has a market capitalization of $182.88 million, a price-to-earnings ratio of 25.32 and a beta of 0.98.

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

Institutional Trading of AudioCodes

Several institutional investors have recently made changes to their positions in the stock. AXQ Capital LP acquired a new stake in shares of AudioCodes during the 2nd quarter worth $116,000. Headlands Technologies LLC acquired a new position in AudioCodes in the second quarter valued at $111,000. Public Employees Retirement System of Ohio acquired a new position in AudioCodes in the second quarter valued at $592,000. NewEdge Advisors LLC boosted its holdings in AudioCodes by 49.5% in the first quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock valued at $215,000 after acquiring an additional 8,475 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in AudioCodes by 12.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock valued at $6,209,000 after acquiring an additional 82,016 shares during the period. 68.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wall Street Zen cut AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of AudioCodes in a report on Monday, November 2nd. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, AudioCodes currently has a consensus rating of “Hold”.

AudioCodes Company Profile

AudioCodes Ltd. (NASDAQ: AUDC) is an Israeli provider of advanced voice and communications technologies for enterprises, service providers and telecommunications operators. The company develops solutions that enable organizations to deploy, manage and optimize business voice services across private, public and hybrid communications networks.

Its portfolio includes session border controllers, media gateways, voice network products, professional services and cloud-based communications solutions.