AudioCodes (NASDAQ:AUDC) Stock: Insider Shabtai Adlersberg Buys 2,000 Shares

Key Points

• CEO Shabtai Adlersberg bought 2,000 AudioCodes shares on Nov. 11 at an average $8.67, investing $17,340. He directly owned about 4.99 million shares after the purchase.
• That purchase followed four other buys from Nov. 5–10 totaling 30,939 shares, indicating a series of recent insider purchases.
• AudioCodes matched analysts’ quarterly EPS estimate at $0.16 and reported revenue of $64.14 million, above the $63.40 million consensus. MarketBeat’s average analyst rating was “Hold.”

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) CEO Shabtai Adlersberg acquired 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 transaction, the chief executive officer directly owned 4,985,192 shares in the company, valued at $43,221,614.64. This trade represents a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, November 10th, Shabtai Adlersberg bought 5,000 shares of AudioCodes stock. The stock was bought at an average price of $8.46 per share, with a total value of $42,300.00.
• On Monday, November 9th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The stock was bought at an average price 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 stock was purchased at an average cost of $7.87 per share, for a total transaction of $46,739.93.
• On Thursday, November 5th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The stock was purchased at an average cost of $7.94 per share, for a total transaction of $79,400.00.

AudioCodes Stock Up 2.6%

NASDAQ:AUDC opened at $8.66 on Thursday. The stock's fifty day moving average is $10.41 and its two-hundred day moving average is $9.32. AudioCodes Ltd. has a 52 week low of $6.95 and a 52 week high of $11.74. The stock has a market capitalization of $201.75 million, a price-to-earnings ratio of 27.94 and a beta of 0.98.

AudioCodes (NASDAQ:AUDC - Get Free Report) last released its quarterly earnings results 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 business had revenue of $64.14 million during the quarter, compared to analyst estimates of $63.40 million.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AUDC. Weiss Ratings reissued a "hold (c)" rating on shares of AudioCodes in a research note on Monday, November 2nd. Wall Street Zen cut AudioCodes from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 7th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company has an average rating of "Hold".

Institutional Investors Weigh In On AudioCodes

Several large investors have recently added to or reduced their stakes in AUDC. Heartland Advisors Inc. lifted its holdings in AudioCodes by 15.8% during the 1st quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider's stock worth $8,122,000 after buying an additional 131,934 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in AudioCodes in the 2nd quarter valued at approximately $592,000. Arrowstreet Capital Limited Partnership grew 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 worth $6,209,000 after acquiring an additional 82,016 shares in the last quarter. AXQ Capital LP acquired a new position in shares of AudioCodes in the second quarter worth $116,000. Finally, Headlands Technologies LLC acquired a new position in shares of AudioCodes in the second quarter worth $111,000. 68.05% of the stock is 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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