AudioCodes (NASDAQ:AUDC) CEO Shabtai Adlersberg Acquires 5,000 Shares of Company Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was acquired at an average price of $8.46 per share, with a total value of $42,300.00. Following the purchase, the chief executive officer owned 4,983,192 shares in the company, valued at $42,157,804.32. This represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, November 11th, Shabtai Adlersberg purchased 2,000 shares of AudioCodes stock. The stock was acquired at an average cost of $8.67 per share, with a total value of $17,340.00.
• On Monday, November 9th, Shabtai Adlersberg purchased 10,000 shares of AudioCodes stock. The stock was acquired at an average cost of $8.38 per share, with a total value of $83,800.00.
• 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, for a total transaction of $46,739.93.
• On Thursday, November 5th, Shabtai Adlersberg purchased 10,000 shares of AudioCodes stock. The shares were acquired at an average price of $7.94 per share, for a total transaction of $79,400.00.

AudioCodes Trading Up 5.1%

Shares of AUDC opened at $9.10 on Friday. AudioCodes Ltd. has a 12 month low of $6.95 and a 12 month high of $11.74. The stock’s 50 day moving average is $10.39 and its two-hundred day moving average is $9.32. The firm 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 posted its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $64.14 million during the quarter, compared to analysts’ expectations of $63.40 million. AudioCodes had a return on equity of 6.86% and a net margin of 3.16%.

Institutional Investors Weigh In On AudioCodes

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of AudioCodes by 9.0% during the first quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider’s stock valued at $718,000 after acquiring an additional 7,019 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of AudioCodes by 49.5% in the first quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock worth $215,000 after acquiring an additional 8,475 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of AudioCodes in the second quarter worth approximately $111,000. AXQ Capital LP purchased a new stake in shares of AudioCodes during the second quarter worth approximately $116,000. Finally, Heartland Advisors Inc. increased its position in shares of 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 purchasing an additional 52,950 shares in the last quarter. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AUDC has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of AudioCodes in a report on Monday, November 2nd. Wall Street Zen downgraded shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 7th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, AudioCodes currently has an average rating of “Hold”.

About AudioCodes

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.