AudioCodes (NASDAQ:AUDC) EVP Sells $23,460.42 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) EVP Lior Aldema sold 2,813 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $8.34, for a total transaction of $23,460.42. Following the sale, the executive vice president directly owned 112,501 shares in the company, valued at approximately $938,258.34. This trade represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lior Aldema also recently made the following trade(s):

• On Tuesday, May 5th, Lior Aldema sold 2,813 shares of AudioCodes stock. The stock was sold at an average price of $8.56, for a total transaction of $24,079.28.
• On Tuesday, April 28th, Lior Aldema sold 2,813 shares of AudioCodes stock. The stock was sold at an average price of $8.71, for a total transaction of $24,501.23.

AudioCodes Trading Down 0.4%

NASDAQ AUDC opened at $8.45 on Thursday. AudioCodes Ltd. has a 1-year low of $6.95 and a 1-year high of $11.50. The company has a market capitalization of $215.05 million, a PE ratio of 33.80 and a beta of 0.95. The firm’s fifty day simple moving average is $8.60 and its 200-day simple moving average is $8.56.

AudioCodes (NASDAQ:AUDC) last posted its quarterly earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $61.50 million.

Hedge Funds Weigh In On AudioCodes

Several hedge funds have recently bought and sold shares of AUDC. Raymond James Financial Inc. acquired a new position in AudioCodes during the second quarter worth $43,000. Barclays PLC boosted its holdings in AudioCodes by 3,621.4% during the fourth quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider’s stock valued at $64,000 after acquiring an additional 7,098 shares during the period. Jump Financial LLC bought a new stake in AudioCodes during the second quarter valued at about $127,000. NewEdge Advisors LLC bought a new stake in AudioCodes during the fourth quarter valued at about $150,000. Finally, SIH Partners LLLP bought a new stake in AudioCodes during the third quarter valued at about $170,000. 68.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

AudioCodes Company Profile

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.