Insider Selling: AudioCodes (NASDAQ:AUDC) CFO Sells 1,875 Shares of Stock

AudioCodes Ltd. (NASDAQ:AUDC) CFO Niran Baruch sold 1,875 shares of the company’s stock in a transaction on 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 represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 0.4%

AUDC opened at $8.54 on Thursday. AudioCodes Ltd. has a 12 month low of $6.95 and a 12 month high of $11.50. The company has a fifty day simple moving average of $8.48 and a 200 day simple moving average of $8.59. The stock has a market cap of $231.34 million, a P/E ratio of 34.16 and a beta of 0.95.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). AudioCodes had a net margin of 2.79% and a return on equity of 6.12%. The firm had revenue of $62.14 million during the quarter, compared to the consensus estimate of $61.50 million.

Hedge Funds Weigh In On AudioCodes

A number of large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its stake in shares of AudioCodes by 56.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock worth $185,000 after buying an additional 7,052 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of AudioCodes during the 1st quarter worth about $412,000. Jane Street Group LLC boosted its stake in shares of AudioCodes by 14.2% during the 1st quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider’s stock worth $449,000 after buying an additional 5,938 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AudioCodes by 38.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 39,306 shares of the communications equipment provider’s stock worth $386,000 after buying an additional 10,877 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of AudioCodes by 12.3% during the 2nd quarter. Marshall Wace LLP now owns 179,371 shares of the communications equipment provider’s stock worth $1,761,000 after buying an additional 19,629 shares during the last quarter. Institutional investors own 68.05% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, AudioCodes has a consensus rating of “Hold”.

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.