AudioCodes (NASDAQ:AUDC) CEO Shabtai Adlersberg Purchases 5,000 Shares of Stock

Key Points

• CEO Shabtai Adlersberg bought 5,000 AudioCodes shares at an average $8.46, spending $42,300 and increasing his direct stake by 0.10%. The article also lists several other recent purchases by the CEO.
• AudioCodes reported quarterly EPS of $0.16, in line with analyst estimates, while revenue of $64.14 million topped expectations of $63.40 million.
• Analyst sentiment remained cautious: MarketBeat reported a consensus Hold rating. The stock opened at $8.66, within its 12-month range of $6.95 to $11.74.

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) CEO Shabtai Adlersberg bought 5,000 shares of the firm's stock in a transaction dated Tuesday, November 10th. The stock was purchased at an average cost of $8.46 per share, with a total value of $42,300.00. Following the transaction, the chief executive officer directly owned 4,983,192 shares in the company, valued at approximately $42,157,804.32. This represents a 0.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was purchased 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 price of $8.38 per share, for a total transaction of $83,800.00.
• On Friday, November 6th, Shabtai Adlersberg bought 5,939 shares of AudioCodes stock. The stock was acquired 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 acquired at an average price of $7.94 per share, for a total transaction of $79,400.00.

AudioCodes Stock Up 2.6%

AudioCodes stock opened at $8.66 on Thursday. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.74. The company has a market capitalization of $201.75 million, a P/E ratio of 27.94 and a beta of 0.98. The stock's 50 day moving average is $10.41 and its 200 day moving average is $9.32.

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

Analyst Ratings Changes

A number of brokerages have recently commented on AUDC. Weiss Ratings reiterated a "hold (c)" rating on shares of AudioCodes in a research note on Monday, November 2nd. Wall Street Zen downgraded shares of AudioCodes from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 7th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Hedge Funds Weigh In On AudioCodes

A number of institutional investors and hedge funds have recently modified their holdings of the company. Heartland Advisors Inc. grew its holdings in shares of AudioCodes by 15.8% in the first quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider's stock worth $8,122,000 after acquiring an additional 131,934 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes during the second quarter valued at $592,000. Arrowstreet Capital Limited Partnership lifted its holdings in AudioCodes by 12.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider's stock valued at $6,209,000 after acquiring an additional 82,016 shares during the period. AXQ Capital LP bought a new position in AudioCodes in the second quarter valued at about $116,000. Finally, Headlands Technologies LLC bought a new position in AudioCodes in the second quarter valued at about $111,000. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

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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