AudioCodes Ltd. (NASDAQ:AUDC) Position Decreased by XTX Topco Ltd

XTX Topco Ltd reduced its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 26.0% during the third quarter, Holdings Channel reports. The firm owned 10,177 shares of the communications equipment provider’s stock after selling 3,570 shares during the period. XTX Topco Ltd’s holdings in AudioCodes were worth $99,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AUDC. Senvest Management LLC increased its holdings in shares of AudioCodes by 1.5% in the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after buying an additional 37,080 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of AudioCodes by 11.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock worth $893,000 after acquiring an additional 9,150 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of AudioCodes during the third quarter worth $1,618,000. Marshall Wace LLP lifted its holdings in shares of AudioCodes by 37.5% during the second quarter. Marshall Wace LLP now owns 25,683 shares of the communications equipment provider’s stock valued at $267,000 after purchasing an additional 7,009 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in shares of AudioCodes in the 2nd quarter valued at $1,123,000. 68.05% of the stock is owned by institutional investors and hedge funds.

AudioCodes Price Performance

Shares of AUDC opened at $9.36 on Friday. The business’s 50-day moving average is $9.11 and its 200-day moving average is $9.85. The company has a market capitalization of $282.83 million, a price-to-earnings ratio of 23.40 and a beta of 0.84. AudioCodes Ltd. has a fifty-two week low of $7.70 and a fifty-two week high of $14.45.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC reduced their price objective on shares of AudioCodes from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. StockNews.com upgraded shares of AudioCodes from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Barclays lowered their price objective on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th.

About AudioCodes

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.