AudioCodes (NASDAQ:AUDC) CEO Shabtai Adlersberg Acquires 2,000 Shares of Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg acquired 2,000 shares of AudioCodes stock in a transaction dated Wednesday, November 11th. The shares were purchased at an average cost of $8.67 per share, with a total value of $17,340.00. Following the completion of the transaction, the chief executive officer directly owned 4,985,192 shares of the company’s stock, valued at $43,221,614.64. This trade represents a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, November 10th, Shabtai Adlersberg acquired 5,000 shares of AudioCodes stock. The shares were purchased at an average price of $8.46 per share, with a total value of $42,300.00.
• On Monday, November 9th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The stock was purchased at an average cost of $8.38 per share, for a total transaction of $83,800.00.
• On Friday, November 6th, Shabtai Adlersberg bought 5,939 shares of AudioCodes stock. The stock was purchased at an average cost of $7.87 per share, for a total transaction of $46,739.93.
• On Thursday, November 5th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The stock was purchased at an average price of $7.94 per share, for a total transaction of $79,400.00.

AudioCodes Stock Up 5.1%

NASDAQ:AUDC opened at $9.10 on Friday. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.74. The business has a 50 day moving average price of $10.39 and a two-hundred day moving average price of $9.32. The company has a market cap of $212.03 million, a P/E ratio of 22.20 and a beta of 0.98.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings results on Wednesday, November 4th. The communications equipment provider reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. AudioCodes had a net margin of 3.16% and a return on equity of 6.86%. The company had revenue of $64.14 million during the quarter, compared to analysts’ expectations of $63.40 million.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wall Street Zen cut shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of AudioCodes in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Trading of AudioCodes

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Heartland Advisors Inc. raised its holdings in AudioCodes by 5.8% during the third quarter. Heartland Advisors Inc. now owns 970,600 shares of the communications equipment provider’s stock worth $10,366,000 after acquiring an additional 52,950 shares in the last quarter. AXQ Capital LP bought a new position in AudioCodes in the second quarter valued at approximately $116,000. Headlands Technologies LLC bought a new position in AudioCodes in the second quarter valued at approximately $111,000. Public Employees Retirement System of Ohio bought a new position in AudioCodes in the second quarter valued at approximately $592,000. Finally, NewEdge Advisors LLC grew its stake in AudioCodes by 49.5% in the first quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock valued at $215,000 after purchasing an additional 8,475 shares in the last quarter. Institutional investors own 68.05% of the company’s stock.

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.