Insider Buying: AudioCodes (NASDAQ:AUDC) CEO Acquires 5,000 Shares of Company Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was acquired at an average cost of $8.46 per share, for a total transaction of $42,300.00. Following the acquisition, the chief executive officer owned 4,983,192 shares of the company’s stock, valued at $42,157,804.32. The trade was a 0.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, November 11th, Shabtai Adlersberg bought 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 Monday, November 9th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The shares were acquired at an average cost of $8.38 per share, with a total value of $83,800.00.
• On Friday, November 6th, Shabtai Adlersberg bought 5,939 shares of AudioCodes stock. The shares were acquired at an average cost 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 stock was acquired at an average price of $7.94 per share, for a total transaction of $79,400.00.

AudioCodes Price Performance

Shares of AudioCodes stock opened at $8.66 on Thursday. AudioCodes Ltd. has a 1-year low of $6.95 and a 1-year high of $11.74. The company’s fifty day simple moving average is $10.41 and its 200-day simple moving average is $9.32. The stock has a market capitalization of $201.75 million, a PE ratio of 27.94 and a beta of 0.98.

AudioCodes (NASDAQ:AUDC) last posted 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 analyst estimates of $63.40 million.

Wall Street Analyst Weigh In

AUDC has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a research report on Monday, November 2nd. Wall Street Zen downgraded AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. 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

A number of large investors have recently modified their holdings of the company. Heartland Advisors Inc. lifted 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 valued at $10,366,000 after buying an additional 52,950 shares in the last quarter. AXQ Capital LP purchased a new stake in AudioCodes in the 2nd quarter worth $116,000. Headlands Technologies LLC purchased a new stake in AudioCodes in the 2nd quarter worth $111,000. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes in the 2nd quarter worth $592,000. Finally, NewEdge Advisors LLC raised 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 acquiring an additional 8,475 shares during the period. Hedge funds and other institutional investors own 68.05% of the company’s stock.

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.