AudioCodes (NASDAQ:AUDC) CFO Niran Baruch Sells 1,875 Shares

AudioCodes Ltd. (NASDAQ:AUDC) CFO Niran Baruch sold 1,875 shares of AudioCodes stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $8.34, for a total value of $15,637.50. Following the transaction, the chief financial officer directly owned 105,000 shares of the company’s stock, valued at $875,700. The trade was a 1.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Price Performance

AUDC stock opened at $8.42 on Monday. The firm has a market capitalization of $214.29 million, a PE ratio of 33.68 and a beta of 0.95. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.50. The stock has a 50-day simple moving average of $8.51 and a two-hundred day simple moving average of $8.58.

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 analysts’ consensus estimates of $0.16 by ($0.02). AudioCodes had a net margin of 2.79% and a return on equity of 6.33%. The company had revenue of $62.14 million for the quarter, compared to analysts’ expectations of $61.50 million.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in shares of AudioCodes during the second quarter worth about $43,000. Jane Street Group LLC grew its holdings in shares of AudioCodes by 14.2% during the first quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider’s stock worth $449,000 after purchasing an additional 5,938 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of AudioCodes by 29.4% during the fourth 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 in the last quarter. Jump Financial LLC grew its holdings in shares of AudioCodes by 24.0% during the fourth quarter. Jump Financial LLC now owns 34,955 shares of the communications equipment provider’s stock worth $305,000 after purchasing an additional 6,755 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in AudioCodes by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider’s stock worth $718,000 after buying an additional 7,019 shares in the last quarter. Hedge funds and other institutional investors own 68.05% of the company’s stock.

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.