AudioCodes (NASDAQ:AUDC) Stock: Insider Shabtai Adlersberg Buys 5,939 Shares

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg bought 5,939 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of $7.87 per share, with a total value of $46,739.93. Following the acquisition, the chief executive officer directly owned 4,968,192 shares of the company’s stock, valued at approximately $39,099,671.04. This represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 Down 0.7%

AUDC stock opened at $8.44 on Wednesday. The company has a market cap of $196.65 million, a price-to-earnings ratio of 21.80 and a beta of 0.98. AudioCodes Ltd. has a 12 month low of $6.95 and a 12 month high of $11.74. The firm has a 50-day moving average of $10.44 and a two-hundred day moving average of $9.32.

AudioCodes (NASDAQ:AUDC) last issued its 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 return on equity of 6.86% and a net margin of 3.16%. The business had revenue of $64.14 million for the quarter, compared to analysts’ expectations of $63.40 million.

Hedge Funds Weigh In On AudioCodes

A number of hedge funds have recently made changes to their positions in AUDC. AXQ Capital LP purchased a new position in shares of AudioCodes during the second quarter worth $116,000. Headlands Technologies LLC acquired a new stake in shares of AudioCodes in the second quarter valued at $111,000. Public Employees Retirement System of Ohio purchased a new stake in shares of AudioCodes in the 2nd quarter valued at $592,000. NewEdge Advisors LLC raised its holdings in shares of AudioCodes by 49.5% in the 1st quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock valued at $215,000 after buying an additional 8,475 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of AudioCodes by 12.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock valued at $6,209,000 after buying an additional 82,016 shares during the period. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AUDC shares. Wall Street Zen lowered shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued 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. Based on data from MarketBeat.com, AudioCodes has a consensus rating of “Hold”.

About AudioCodes

AudioCodes Ltd. (NASDAQ: AUDC) is an Israeli provider of advanced voice and communications technologies for enterprises, service providers and telecommunications operators. The company develops solutions that enable organizations to deploy, manage and optimize business voice services across private, public and hybrid communications networks. Its portfolio includes session border controllers, media gateways, voice network products, professional services and cloud-based communications solutions. AudioCodes supports unified communications and collaboration environments, including integrations with platforms such as Microsoft Teams, while also offering tools for contact centers, voice quality monitoring, provisioning and communications management.