Key Points
- AudioCodes EVP Lior Aldema sold 2,813 shares on May 8 at an average price of $8.34, worth about $23,460. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- The sale reduced Aldema’s stake by 2.44%, though he still owned 112,501 shares valued at roughly $938,258 after the trade. He also sold the same number of shares on May 5 and April 28 at slightly higher prices.
- AudioCodes recently reported Q1 earnings of $0.14 per share, missing estimates, while revenue of $62.14 million came in slightly above expectations. The stock was trading around $8.63, and analyst sentiment remained mostly Hold despite a recent upgrade from Wall Street Zen.
AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) CFO Niran Baruch sold 1,875 shares of AudioCodes stock in a transaction on Friday, May 8th. The shares were 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 represents a 1.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $16,331.25.
AudioCodes Stock Up 2.5%
Shares of NASDAQ:AUDC opened at $8.63 on Tuesday. The company has a market cap of $219.63 million, a P/E ratio of 34.52 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 has a fifty day simple moving average of $8.56 and a 200-day simple moving average of $8.57.
AudioCodes (NASDAQ:AUDC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.16 by ($0.02). The business had revenue of $62.14 million during 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%.
Institutional Investors Weigh In On AudioCodes
A number of institutional investors have recently added to or reduced their stakes in the company. Heartland Advisors Inc. grew its position in AudioCodes by 15.8% during the first quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider's stock valued at $8,122,000 after acquiring an additional 131,934 shares during the period. Bank of New York Mellon Corp grew its position in AudioCodes by 9.0% during the first quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider's stock valued at $718,000 after acquiring an additional 7,019 shares during the period. Assenagon Asset Management S.A. purchased a new stake in AudioCodes during the first quarter valued at about $1,238,000. NewEdge Advisors LLC purchased a new stake in AudioCodes during the fourth quarter valued at about $150,000. Finally, XTX Topco Ltd purchased a new stake in AudioCodes during the fourth quarter valued at about $202,000. Hedge funds and other institutional investors own 68.05% of the company's stock.
Analyst Ratings Changes
Separately, Wall Street Zen raised AudioCodes from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold".
View Our Latest Stock Report on AudioCodes
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
