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

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg bought 5,939 shares of the stock in a transaction on Friday, November 6th. The shares were acquired at an average cost of $7.87 per share, for a total transaction of $46,739.93. Following the purchase, the chief executive officer owned 4,968,192 shares in the company, valued at $39,099,671.04. The trade was a 0.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, November 5th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The stock was acquired at an average price of $7.94 per share, with a total value of $79,400.00.

AudioCodes Price Performance

Shares of NASDAQ AUDC opened at $7.85 on Monday. The firm has a 50-day simple moving average of $10.50 and a 200-day simple moving average of $9.31. The stock has a market capitalization of $182.88 million, a price-to-earnings ratio of 25.32 and a beta of 0.98. AudioCodes Ltd. has a 52 week low of $6.95 and a 52 week high of $11.74.

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

Wall Street Analyst Weigh In

AUDC has been the topic of several recent research reports. Wall Street Zen cut AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of AudioCodes in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, AudioCodes currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of AudioCodes in the second quarter valued at about $111,000. AXQ Capital LP acquired a new stake in AudioCodes during the second quarter worth about $116,000. NewEdge Advisors LLC raised its stake in AudioCodes by 49.5% during the first 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 period. Public Employees Retirement System of Ohio purchased a new position in AudioCodes during the second quarter worth about $592,000. Finally, Bank of New York Mellon Corp boosted its holdings in AudioCodes by 9.0% in the 1st quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider’s stock valued at $718,000 after purchasing an additional 7,019 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

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.