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

Key Points

• CEO Shabtai Adlersberg bought 10,000 AudioCodes shares at an average $8.38, spending $83,800; after the purchase, he directly owned nearly 4.98 million shares. The article also reports several additional purchases by Adlersberg in the same period.
• AudioCodes reported quarterly EPS of $0.16, in line with analysts’ expectations, while revenue of $64.14 million exceeded the $63.40 million estimate.
• Analyst sentiment was neutral overall, with AudioCodes carrying an average “Hold” rating. Shares opened at $8.66, below their 50-day moving average of $10.41.

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) CEO Shabtai Adlersberg acquired 10,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was acquired at an average price of $8.38 per share, with a total value of $83,800.00. Following the completion of the transaction, the chief executive officer directly owned 4,978,192 shares of the company's stock, valued at $41,717,248.96. This trade represents a 0.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, November 11th, Shabtai Adlersberg purchased 2,000 shares of AudioCodes stock. The shares were bought at an average price of $8.67 per share, with a total value of $17,340.00.
• 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, with a total value of $42,300.00.
• 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, for a total transaction of $79,400.00.

AudioCodes Stock Performance

NASDAQ:AUDC opened at $8.66 on Thursday. The stock has a market capitalization of $201.75 million, a P/E ratio of 27.94 and a beta of 0.98. The company has a 50 day moving average price of $10.41 and a 200 day moving average price of $9.32. AudioCodes Ltd. has a fifty-two week low of $6.95 and a fifty-two week high of $11.74.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on AUDC shares. Wall Street Zen downgraded AudioCodes from a "strong-buy" rating to a "buy" rating in a 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. Based on data from MarketBeat, AudioCodes has an average rating of "Hold".

Institutional Investors Weigh In On AudioCodes

A number of hedge funds have recently added to or reduced their stakes in the business. Heartland Advisors Inc. grew its stake 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of AudioCodes in the second quarter valued at $592,000. Arrowstreet Capital Limited Partnership raised its stake in shares of 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 in the last quarter. AXQ Capital LP acquired a new stake in shares of AudioCodes in the second quarter valued at $116,000. Finally, NewEdge Advisors LLC boosted its holdings in AudioCodes by 49.5% in 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 period. 68.05% of the stock is currently owned by institutional investors and hedge funds.

About AudioCodes

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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