Insider Selling: AudioCodes (NASDAQ:AUDC) CFO Sells $15,975.00 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) CFO Niran Baruch sold 1,875 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $8.52, for a total transaction of $15,975.00. Following the completion of the sale, the chief financial officer owned 106,875 shares of the company’s stock, valued at approximately $910,575. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Niran Baruch also recently made the following trade(s):

• On Tuesday, April 28th, Niran Baruch sold 1,875 shares of AudioCodes stock. The shares were sold at an average price of $8.71, for a total transaction of $16,331.25.

AudioCodes Stock Up 0.8%

Shares of AUDC stock opened at $8.42 on Friday. The company has a 50 day moving average of $8.51 and a 200-day moving average of $8.58. AudioCodes Ltd. has a 12-month low of $6.95 and a 12-month high of $11.50. The firm has a market cap of $214.32 million, a P/E ratio of 33.68 and a beta of 0.95.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). AudioCodes had a return on equity of 6.33% and a net margin of 2.79%.The company had revenue of $62.14 million for the quarter, compared to analysts’ expectations of $61.50 million.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Institutional Investors Weigh In On AudioCodes

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of AudioCodes during the 2nd quarter worth approximately $43,000. Barclays PLC boosted its holdings in AudioCodes by 3,621.4% in the 4th quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider’s stock worth $64,000 after buying an additional 7,098 shares during the period. Jump Financial LLC bought a new position in AudioCodes in the 2nd quarter worth approximately $127,000. NewEdge Advisors LLC bought a new position in AudioCodes in the 4th quarter worth approximately $150,000. Finally, SIH Partners LLLP bought a new position in AudioCodes in the 3rd quarter worth approximately $170,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

About AudioCodes

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.