Insider Selling: AudioCodes (NASDAQ:AUDC) CFO Sells 1,875 Shares of Stock

Key Points

• AudioCodes CFO Niran Baruch sold 1,875 shares on May 8 at an average price of $8.34, totaling about $15,637.50. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Baruch has also sold the same number of shares in two earlier transactions in late April and early May, indicating a series of planned insider sales. After the latest sale, he still directly owned 105,000 shares valued at about $875,700.
• AudioCodes recently reported quarterly earnings of $0.14 per share, missing analyst expectations, though revenue of $62.14 million slightly beat estimates. Separately, Wall Street Zen upgraded the stock to strong-buy, while the broader analyst consensus remains Hold.

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) CFO Niran Baruch sold 1,875 shares of AudioCodes stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $8.34, for a total value of $15,637.50. Following the completion of the sale, the chief financial officer directly owned 105,000 shares of the company's stock, valued at approximately $875,700. This trade represents a 1.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Niran Baruch also recently made the following trade(s):

• On Wednesday, May 6th, Niran Baruch sold 1,875 shares of AudioCodes stock. The shares were sold at an average price of $8.52, for a total value of $15,975.00.
• On Tuesday, April 28th, Niran Baruch sold 1,875 shares of AudioCodes stock. The shares were sold at an average price of $8.71, for a total transaction of $16,331.25.

AudioCodes Price Performance

NASDAQ AUDC opened at $8.42 on Monday. The company has a market cap of $214.29 million, a PE ratio of 33.68 and a beta of 0.95. AudioCodes Ltd. has a 52 week low of $6.95 and a 52 week high of $11.50. The firm's 50-day simple moving average is $8.51 and its two-hundred day simple moving average is $8.58.

AudioCodes (NASDAQ:AUDC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $62.14 million for the quarter, compared to analysts' expectations of $61.50 million. AudioCodes had a net margin of 2.79% and a return on equity of 6.33%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of AudioCodes from a "buy" rating to a "strong-buy" rating in a report on Saturday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AUDC. Raymond James Financial Inc. purchased a new position in AudioCodes during the 2nd quarter valued at about $43,000. Barclays PLC grew its holdings in AudioCodes by 3,621.4% during the 4th quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider's stock valued at $64,000 after buying an additional 7,098 shares in the last quarter. Jump Financial LLC purchased a new position in AudioCodes during the 2nd quarter valued at about $127,000. NewEdge Advisors LLC purchased a new position in AudioCodes during the 4th quarter valued at about $150,000. Finally, SIH Partners LLLP purchased a new position in AudioCodes during the 3rd quarter valued at about $170,000. Hedge funds and other institutional investors own 68.05% of the company's stock.

AudioCodes Company Profile

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha'Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.

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