AudioCodes (NASDAQ:AUDC) Stock: Insider Shabtai Adlersberg Buys 10,000 Shares

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was acquired at an average cost of $7.94 per share, for a total transaction of $79,400.00. Following the transaction, the chief executive officer owned 4,962,253 shares in the company, valued at $39,400,288.82. This represents a 0.20% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, November 6th, Shabtai Adlersberg acquired 5,939 shares of AudioCodes stock. The stock was bought at an average cost of $7.87 per share, with a total value of $46,739.93.

AudioCodes Stock Down 0.7%

AUDC stock opened at $8.44 on Wednesday. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.74. The stock’s 50 day moving average is $10.44 and its 200-day moving average is $9.32. The firm has a market capitalization of $196.65 million, a PE ratio of 21.80 and a beta of 0.98.

AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.16 earnings per share for the quarter, meeting 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.

Institutional Investors Weigh In On AudioCodes

Several institutional investors have recently made changes to their positions in the stock. Heartland Advisors Inc. raised its stake in shares of AudioCodes by 15.8% during the 1st quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider’s stock valued at $8,122,000 after purchasing an additional 131,934 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in AudioCodes by 12.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock worth $6,209,000 after purchasing an additional 82,016 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes in the 2nd quarter worth approximately $592,000. AXQ Capital LP bought a new position in shares of AudioCodes in the second quarter worth $116,000. Finally, Headlands Technologies LLC bought a new position in shares of AudioCodes in the second quarter worth $111,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AUDC. Wall Street Zen cut AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AudioCodes in a report on Monday, November 2nd. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock 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.