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

AudioCodes Ltd. (NASDAQ:AUDC) EVP Lior Aldema sold 2,813 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 $23,460.42. Following the completion of the transaction, the executive vice president owned 112,501 shares in the company, valued at $938,258.34. The trade was a 2.44% 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.

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 Price Performance

NASDAQ AUDC opened at $8.48 on Wednesday. AudioCodes Ltd. has a 1-year low of $6.95 and a 1-year high of $11.50. The firm has a market capitalization of $215.85 million, a P/E ratio of 33.92 and a beta of 0.95. The business’s 50-day simple moving average is $8.58 and its 200-day simple moving average is $8.57.

AudioCodes (NASDAQ:AUDC) last posted its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business 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%.

Institutional Investors Weigh In On AudioCodes

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

Analysts Set New Price Targets

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

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.