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

AudioCodes Ltd. (NASDAQ:AUDC – Get Free Report) CEO Shabtai Adlersberg purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $7.94 per share, for a total transaction of $79,400.00. Following 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 purchase was disclosed in a legal filing 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 purchased 5,939 shares of AudioCodes stock. The stock was purchased at an average price of $7.87 per share, for a total transaction of $46,739.93.

AudioCodes Price Performance

NASDAQ AUDC opened at $7.85 on Monday. AudioCodes Ltd. has a 1-year low of $6.95 and a 1-year high of $11.74. The company has a market capitalization of $182.88 million, a P/E ratio of 25.32 and a beta of 0.98. The business has a 50 day moving average price of $10.50 and a 200 day moving average price of $9.31.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on AUDC shares. Wall Street Zen cut shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat, AudioCodes currently has a consensus rating of “Hold”.

Read Our Latest Research Report on AudioCodes

Institutional Trading of AudioCodes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of AudioCodes by 9.0% during 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 shares of 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 buying an additional 8,475 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of AudioCodes during the second quarter worth about $111,000. AXQ Capital LP acquired a new position in shares of AudioCodes in the second quarter valued at approximately $116,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of AudioCodes in the second quarter valued at approximately $592,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

AudioCodes Company Profile

(Get Free Report)

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.

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