AudioCodes (NASDAQ:AUDC) CEO Shabtai Adlersberg Buys 10,000 Shares of Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg bought 10,000 shares of the business’s stock in a transaction on Monday, November 9th. The shares were acquired at an average price of $8.38 per share, for a total transaction of $83,800.00. Following the completion of the transaction, the chief executive officer owned 4,978,192 shares in the company, valued at approximately $41,717,248.96. This trade represents a 0.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, November 11th, Shabtai Adlersberg bought 2,000 shares of AudioCodes stock. The stock was acquired at an average cost of $8.67 per share, for a total transaction of $17,340.00.
• On Tuesday, November 10th, Shabtai Adlersberg purchased 5,000 shares of AudioCodes stock. The shares were acquired at an average price of $8.46 per share, with a total value of $42,300.00.
• On Friday, November 6th, Shabtai Adlersberg purchased 5,939 shares of AudioCodes stock. The shares were acquired 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 shares were acquired at an average cost of $7.94 per share, with a total value of $79,400.00.

AudioCodes Price Performance

AUDC opened at $9.10 on Friday. The firm has a 50 day simple moving average of $10.39 and a 200 day simple moving average of $9.32. AudioCodes Ltd. has a fifty-two week low of $6.95 and a fifty-two week high of $11.74. The company has a market cap of $212.03 million, a price-to-earnings ratio of 22.20 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 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. AudioCodes had a net margin of 3.16% and a return on equity of 6.86%. The firm had revenue of $64.14 million for the quarter, compared to analysts’ expectations of $63.40 million.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AUDC shares. Weiss Ratings reissued a “hold (c)” rating on shares of AudioCodes in a research note on Monday, November 2nd. Wall Street Zen cut AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Institutional Trading of AudioCodes

A number of institutional investors and hedge funds have recently modified their holdings of AUDC. Heartland Advisors Inc. boosted its stake in AudioCodes by 15.8% during the 1st quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider’s stock worth $8,122,000 after acquiring an additional 131,934 shares during the last quarter. Arrowstreet Capital Limited Partnership grew 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 period. Public Employees Retirement System of Ohio bought a new stake in AudioCodes in the second quarter valued at approximately $592,000. AXQ Capital LP bought a new stake in AudioCodes in the second quarter valued at approximately $116,000. Finally, Headlands Technologies LLC bought a new stake in AudioCodes in the second quarter valued at approximately $111,000. 68.05% of the stock is owned by 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.