AudioCodes (NASDAQ:AUDC) Stock: Insider Shabtai Adlersberg Acquires 5,000 Shares

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg bought 5,000 shares of the stock in a transaction on Tuesday, November 10th. The stock was purchased at an average price of $8.46 per share, for a total transaction of $42,300.00. Following the purchase, the chief executive officer directly owned 4,983,192 shares of the company’s stock, valued at approximately $42,157,804.32. This represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, November 11th, Shabtai Adlersberg bought 2,000 shares of AudioCodes stock. The stock was purchased at an average cost of $8.67 per share, for a total transaction of $17,340.00.
• On Monday, November 9th, Shabtai Adlersberg purchased 10,000 shares of AudioCodes stock. The shares were purchased 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 purchased at an average price of $7.87 per share, with a total value of $46,739.93.
• On Thursday, November 5th, Shabtai Adlersberg purchased 10,000 shares of AudioCodes stock. The shares were purchased at an average price of $7.94 per share, with a total value of $79,400.00.

AudioCodes Stock Performance

Shares of NASDAQ AUDC traded down $0.03 during trading hours on Friday, hitting $9.07. The stock had a trading volume of 90,287 shares, compared to its average volume of 124,923. The company has a market capitalization of $211.33 million, a P/E ratio of 29.26 and a beta of 0.98. The firm’s 50-day moving average price is $10.37 and its two-hundred day moving average price is $9.32. AudioCodes Ltd. has a 52 week low of $6.95 and a 52 week high of $11.74.

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

Institutional Trading of AudioCodes

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Heartland Advisors Inc. boosted its stake in shares of AudioCodes by 5.8% during the 3rd 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 shares of AudioCodes in the 2nd quarter valued at approximately $116,000. Headlands Technologies LLC bought a new position in shares of AudioCodes in the 2nd quarter valued at approximately $111,000. Public Employees Retirement System of Ohio bought a new position in shares of AudioCodes in the 2nd quarter valued at approximately $592,000. Finally, NewEdge Advisors LLC lifted its holdings in AudioCodes by 49.5% in the 1st quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock worth $215,000 after purchasing an additional 8,475 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a research note 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 MarketBeat, the company presently 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.