Insider Selling: AudioCodes (NASDAQ:AUDC) EVP Sells 2,813 Shares of Stock

AudioCodes Ltd. (NASDAQ:AUDC) EVP Lior Aldema sold 2,813 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $8.34, for a total transaction of $23,460.42. Following the transaction, the executive vice president directly owned 112,501 shares of the company’s stock, 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 filing 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 Price Performance

Shares of AUDC opened at $8.42 on Monday. The firm has a 50 day simple moving average of $8.51 and a 200-day simple moving average of $8.58. AudioCodes Ltd. has a 1-year low of $6.95 and a 1-year high of $11.50. The stock has a market cap of $214.29 million, a price-to-earnings ratio of 33.68 and a beta of 0.95.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data 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 business had revenue of $62.14 million for the quarter, compared to analysts’ expectations of $61.50 million.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, AudioCodes presently has a consensus rating of “Hold”.

Institutional Trading of AudioCodes

Several hedge funds and other institutional investors have recently bought and sold shares of AUDC. Raymond James Financial Inc. purchased a new stake in AudioCodes in the 2nd quarter worth approximately $43,000. Barclays PLC grew its stake in AudioCodes by 3,621.4% in the 4th quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider’s stock worth $64,000 after acquiring an additional 7,098 shares during the period. Jump Financial LLC purchased a new stake in AudioCodes in the 2nd quarter worth approximately $127,000. NewEdge Advisors LLC purchased a new stake in AudioCodes in the 4th quarter worth approximately $150,000. Finally, SIH Partners LLLP purchased a new stake in AudioCodes in the 3rd quarter worth approximately $170,000. 68.05% of the stock is owned by hedge funds and other institutional investors.

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.