AudioCodes (NASDAQ:AUDC) CEO Shabtai Adlersberg Purchases 5,939 Shares of Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg bought 5,939 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average price of $7.87 per share, for a total transaction of $46,739.93. Following the acquisition, the chief executive officer owned 4,968,192 shares of the company’s stock, valued at $39,099,671.04. This trade represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, November 5th, Shabtai Adlersberg purchased 10,000 shares of AudioCodes stock. The shares were acquired at an average price of $7.94 per share, with a total value of $79,400.00.

AudioCodes Price Performance

NASDAQ AUDC opened at $8.50 on Tuesday. The stock has a market capitalization of $205.28 million, a P/E ratio of 20.74 and a beta of 0.98. The business has a 50 day simple moving average of $10.47 and a 200 day simple moving average of $9.31. AudioCodes Ltd. has a one year low of $6.95 and a one year high of $11.74.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings results on Wednesday, November 4th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $64.14 million for the quarter, compared to analysts’ expectations of $63.40 million. AudioCodes had a return on equity of 6.54% and a net margin of 3.16%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AUDC shares. Wall Street Zen cut shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AudioCodes in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Institutional Trading of AudioCodes

Several hedge funds have recently added to or reduced their stakes in AUDC. Heartland Advisors Inc. raised its holdings in shares of AudioCodes by 15.8% in the 1st quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider’s stock worth $8,122,000 after purchasing an additional 131,934 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings 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 purchasing an additional 82,016 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in AudioCodes by 9.0% during the first quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider’s stock valued at $718,000 after purchasing an additional 7,019 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in AudioCodes during the second quarter worth about $592,000. Finally, NewEdge Advisors LLC boosted its position in AudioCodes by 49.5% during the first 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 period. Institutional investors own 68.05% of the company’s stock.

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.