AudioCodes (NASDAQ:AUDC) EVP Lior Aldema Sells 2,813 Shares

AudioCodes Ltd. (NASDAQ:AUDC) EVP Lior Aldema sold 2,813 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $8.34, for a total value of $23,460.42. Following the completion of the transaction, the executive vice president owned 112,501 shares of the company’s stock, valued at $938,258.34. The trade was a 2.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Lior Aldema also recently made the following trade(s):

• On Tuesday, May 5th, Lior Aldema sold 2,813 shares of AudioCodes stock. The stock was sold at an average price of $8.56, for a total value of $24,079.28.
• On Tuesday, April 28th, Lior Aldema sold 2,813 shares of AudioCodes stock. The stock was sold at an average price of $8.71, for a total value of $24,501.23.

AudioCodes Stock Performance

NASDAQ:AUDC opened at $8.63 on Tuesday. The stock has a fifty day moving average price of $8.56 and a two-hundred day moving average price of $8.57. The stock has a market capitalization of $219.63 million, a price-to-earnings ratio of 34.52 and a beta of 0.95. AudioCodes Ltd. has a 1 year low of $6.95 and a 1 year high of $11.50.

AudioCodes (NASDAQ:AUDC) last posted its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $62.14 million during the quarter, compared to analyst estimates 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 AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, AudioCodes presently has an average rating of “Hold”.

Hedge Funds Weigh In On AudioCodes

Several large investors have recently added to or reduced their stakes in AUDC. Heartland Advisors Inc. raised its holdings in shares of AudioCodes by 15.5% in the 3rd quarter. Heartland Advisors Inc. now owns 1,028,850 shares of the communications equipment provider’s stock worth $9,795,000 after purchasing an additional 138,300 shares during the period. Engineers Gate Manager LP raised its holdings in shares of AudioCodes by 29.4% in the 4th quarter. Engineers Gate Manager LP now owns 26,871 shares of the communications equipment provider’s stock worth $235,000 after purchasing an additional 6,098 shares during the period. Quadrature Capital Ltd purchased a new position in shares of AudioCodes in the 4th quarter worth about $229,000. XTX Topco Ltd purchased a new position in shares of AudioCodes in the 4th quarter worth about $202,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of AudioCodes by 56.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 7,052 shares during the period. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

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.