Insider Buying: AudioCodes (NASDAQ:AUDC) CEO Acquires $79,400.00 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg purchased 10,000 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $7.94 per share, with a total value of $79,400.00. Following the completion of the purchase, the chief executive officer directly owned 4,962,253 shares in the company, valued at approximately $39,400,288.82. This represents a 0.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

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

AudioCodes Stock Performance

Shares of NASDAQ AUDC opened at $8.66 on Thursday. The business has a 50 day simple moving average of $10.41 and a 200 day simple moving average of $9.32. AudioCodes Ltd. has a 52 week low of $6.95 and a 52 week high of $11.74. The stock has a market cap of $201.78 million, a price-to-earnings ratio of 21.64 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. The firm had revenue of $64.14 million for the quarter, compared to analyst estimates of $63.40 million. AudioCodes had a net margin of 3.16% and a return on equity of 6.86%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted 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 worth $718,000 after purchasing an additional 7,019 shares during the last quarter. NewEdge Advisors LLC grew its holdings in AudioCodes by 49.5% during the first quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock valued at $215,000 after purchasing an additional 8,475 shares during the last quarter. Headlands Technologies LLC acquired a new position in AudioCodes during the second quarter valued at approximately $111,000. AXQ Capital LP acquired a new position in AudioCodes during the second quarter valued at approximately $116,000. Finally, Heartland Advisors Inc. raised its position in shares of AudioCodes by 5.8% in 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 during the period. 68.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on AUDC shares. Wall Street Zen lowered shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AudioCodes in a research note on Monday, November 2nd. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of “Hold”.

AudioCodes Company Profile

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.