Insider Selling: AudioCodes (NASDAQ:AUDC) EVP Sells $24,079.28 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) EVP Lior Aldema sold 2,813 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $8.56, for a total transaction of $24,079.28. Following the sale, the executive vice president owned 118,127 shares of the company’s stock, valued at $1,011,167.12. This trade represents a 2.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, 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 transaction of $24,501.23.

AudioCodes Stock Up 0.8%

Shares of AudioCodes stock opened at $8.42 on Friday. The stock has a market capitalization of $214.32 million, a P/E ratio of 33.68 and a beta of 0.95. The company has a 50-day simple moving average of $8.51 and a 200 day simple moving average of $8.58. AudioCodes Ltd. has a 12-month low of $6.95 and a 12-month high of $11.50.

AudioCodes (NASDAQ:AUDC) last announced 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 firm 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 Ratings Changes

Separately, Wall Street Zen upgraded shares of 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, According to MarketBeat.com, AudioCodes has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Heartland Advisors Inc. boosted its stake 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 valued at $9,795,000 after purchasing an additional 138,300 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of AudioCodes in the 3rd quarter valued at about $206,000. Cubist Systematic Strategies LLC boosted its stake 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 valued at $185,000 after purchasing an additional 7,052 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of AudioCodes in the 4th quarter valued at about $175,000. Finally, SIH Partners LLLP bought a new position in shares of AudioCodes in the 3rd quarter valued at about $170,000. Institutional investors own 68.05% of the company’s stock.

About AudioCodes

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.