AudioCodes Ltd. (NASDAQ:AUDC – Get Free Report) CEO Shabtai Adlersberg bought 2,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were bought at an average cost of $8.67 per share, with a total value of $17,340.00. Following the completion of the purchase, the chief executive officer directly owned 4,985,192 shares in the company, valued at $43,221,614.64. This represents a 0.04% 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 Tuesday, November 10th, Shabtai Adlersberg purchased 5,000 shares of AudioCodes stock. The shares were bought at an average price of $8.46 per share, for a total transaction of $42,300.00.
- On Monday, November 9th, Shabtai Adlersberg purchased 10,000 shares of AudioCodes stock. The stock was bought at an average cost of $8.38 per share, for a total transaction of $83,800.00.
- On Friday, November 6th, Shabtai Adlersberg purchased 5,939 shares of AudioCodes stock. The stock was bought at an average cost of $7.87 per share, for a total transaction of $46,739.93.
- On Thursday, November 5th, Shabtai Adlersberg acquired 10,000 shares of AudioCodes stock. The stock was bought at an average price of $7.94 per share, with a total value of $79,400.00.
AudioCodes Stock Performance
Shares of AUDC 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 stock has a market capitalization of $201.75 million, a PE ratio of 27.94 and a beta of 0.98. The stock has a 50-day simple moving average of $10.41 and a 200-day simple moving average of $9.32.
AudioCodes (NASDAQ:AUDC – Get Free Report) last released its earnings results on Wednesday, November 4th. The communications equipment provider reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. AudioCodes had a net margin of 3.16% and a return on equity of 6.86%. The firm had revenue of $64.14 million for the quarter, compared to analyst estimates of $63.40 million.
Analyst Upgrades and Downgrades
A number of brokerages have commented on AUDC. Wall Street Zen downgraded shares of AudioCodes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a report on Monday, November 2nd. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.
Get Our Latest Stock Analysis on AUDC
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Heartland Advisors Inc. raised its holdings in AudioCodes by 5.8% during the third quarter. Heartland Advisors Inc. now owns 970,600 shares of the communications equipment provider’s stock worth $10,366,000 after purchasing an additional 52,950 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of AudioCodes by 12.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock worth $6,209,000 after buying an additional 82,016 shares during the last quarter. Bank of New York Mellon Corp lifted its position 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 buying an additional 7,019 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of AudioCodes in the 2nd quarter valued at $592,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of AudioCodes by 49.5% in the 1st quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock valued at $215,000 after buying an additional 8,475 shares in the last quarter. 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.
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