Key Points
- CFO sale: AudioCodes CFO Niran Baruch sold 1,875 shares on May 6 for $15,975 (at $8.52) under a pre-arranged Rule 10b5-1 plan, trimming his stake by about 1.72%; he also sold 1,875 shares on April 28 at $8.71.
- Mixed quarterly results: On May 5 AudioCodes reported EPS of $0.14 (missing the $0.16 consensus) while revenue of $62.14M slightly beat estimates, and the stock opened down ~2.2% near $8.35 with a market cap of ~$226M.
- Market sentiment and ownership: Analysts have a consensus "Hold" rating after a recent downgrade to "Buy" by Wall Street Zen, and institutional investors own roughly 68% of the shares with several funds recently increasing positions.
AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) CFO Niran Baruch sold 1,875 shares of AudioCodes stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $8.52, for a total value of $15,975.00. Following the sale, the chief financial officer directly owned 106,875 shares of the company's stock, valued at $910,575. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Niran Baruch also recently made the following trade(s):
- On Tuesday, April 28th, Niran Baruch sold 1,875 shares of AudioCodes stock. The stock was sold at an average price of $8.71, for a total value of $16,331.25.
AudioCodes Stock Down 2.2%
AudioCodes stock opened at $8.35 on Friday. The firm has a market cap of $226.20 million, a price-to-earnings ratio of 33.40 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 business's 50-day moving average price is $8.51 and its 200 day moving average price is $8.58.
AudioCodes (NASDAQ:AUDC - Get Free Report) last posted its earnings results 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 company had revenue of $62.14 million for the quarter, compared to analyst estimates of $61.50 million. AudioCodes had a return on equity of 6.33% and a net margin of 2.79%.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen lowered AudioCodes from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, AudioCodes currently has a consensus rating of "Hold".
Read Our Latest Stock Report on AudioCodes
Institutional Trading of AudioCodes
Several institutional investors have recently bought and sold shares of AUDC. Assenagon Asset Management S.A. acquired a new stake in AudioCodes in the first quarter valued at approximately $1,238,000. Millennium Management LLC boosted its stake in shares of AudioCodes by 101.6% in the fourth quarter. Millennium Management LLC now owns 284,951 shares of the communications equipment provider's stock worth $2,488,000 after acquiring an additional 143,632 shares during the last quarter. Heartland Advisors Inc. boosted its stake in shares of AudioCodes by 15.5% in the third quarter. Heartland Advisors Inc. now owns 1,028,850 shares of the communications equipment provider's stock worth $9,795,000 after acquiring an additional 138,300 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of AudioCodes by 41.7% in the fourth quarter. Marshall Wace LLP now owns 186,983 shares of the communications equipment provider's stock worth $1,632,000 after acquiring an additional 55,055 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of AudioCodes by 9.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 620,844 shares of the communications equipment provider's stock worth $5,936,000 after acquiring an additional 53,266 shares during the last quarter. 68.05% of the stock is owned by institutional investors and hedge funds.
About AudioCodes
(
Get Free Report)
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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