Insider Buying: AudioCodes (NASDAQ:AUDC) CEO Buys $83,800.00 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg purchased 10,000 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were acquired at an average price of $8.38 per share, with a total value of $83,800.00. Following the purchase, the chief executive officer directly owned 4,978,192 shares in the company, valued at $41,717,248.96. This represents a 0.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, November 11th, Shabtai Adlersberg acquired 2,000 shares of AudioCodes stock. The shares were acquired at an average price of $8.67 per share, with a total value of $17,340.00.
• On Tuesday, November 10th, Shabtai Adlersberg bought 5,000 shares of AudioCodes stock. The shares were acquired at an average cost of $8.46 per share, with a total value of $42,300.00.
• On Friday, November 6th, Shabtai Adlersberg bought 5,939 shares of AudioCodes stock. The stock was 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 bought at an average price of $7.94 per share, with a total value of $79,400.00.

AudioCodes Stock Down 0.3%

AUDC stock traded down $0.03 during mid-day trading on Friday, reaching $9.07. 90,287 shares of the company traded hands, compared to its average volume of 124,923. The firm’s 50 day moving average price is $10.37 and its 200 day moving average price is $9.32. The stock has a market cap of $211.33 million, a price-to-earnings ratio of 29.26 and a beta of 0.98. AudioCodes Ltd. has a fifty-two week low of $6.95 and a fifty-two week high of $11.74.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.16 EPS 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 firm had revenue of $64.14 million during the quarter, compared to the consensus estimate of $63.40 million.

Institutional Investors Weigh In On AudioCodes

Several large investors have recently modified their holdings of AUDC. Heartland Advisors Inc. increased its stake 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 valued at $10,366,000 after purchasing an additional 52,950 shares in the last quarter. AXQ Capital LP bought a new position in AudioCodes during the 2nd quarter valued at approximately $116,000. Headlands Technologies LLC purchased a new position in AudioCodes during the second quarter valued at $111,000. Public Employees Retirement System of Ohio purchased a new position in AudioCodes during the second quarter valued at $592,000. Finally, NewEdge Advisors LLC boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Wall Street Analyst Weigh In

AUDC has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AudioCodes in a research note on Monday, November 2nd. Wall Street Zen cut 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. Based on data from MarketBeat.com, AudioCodes has a consensus rating of “Hold”.

AudioCodes Company Profile

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.