Assenagon Asset Management S.A. Sells 91,684 Shares of AudioCodes Ltd. (NASDAQ:AUDC)

Assenagon Asset Management S.A. trimmed its position in AudioCodes Ltd. (NASDAQ:AUDC) by 55.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,914 shares of the communications equipment provider’s stock after selling 91,684 shares during the period. Assenagon Asset Management S.A. owned approximately 0.24% of AudioCodes worth $732,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new stake in AudioCodes in the third quarter valued at approximately $595,000. JPMorgan Chase & Co. lifted its holdings in shares of AudioCodes by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after purchasing an additional 50,704 shares in the last quarter. Senvest Management LLC grew its position in AudioCodes by 1.5% in the 3rd quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock valued at $25,108,000 after purchasing an additional 37,080 shares during the period. XTX Topco Ltd bought a new stake in AudioCodes during the 2nd quarter valued at $143,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in AudioCodes by 11.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock worth $893,000 after buying an additional 9,150 shares during the last quarter. 68.05% of the stock is owned by institutional investors and hedge funds.

AudioCodes Price Performance

NASDAQ AUDC opened at $10.86 on Friday. The company has a fifty day moving average price of $9.67 and a 200-day moving average price of $9.85. The firm has a market cap of $328.19 million, a price-to-earnings ratio of 27.15 and a beta of 0.81. AudioCodes Ltd. has a 1 year low of $7.70 and a 1 year high of $14.45.

Wall Street Analyst Weigh In

AUDC has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of AudioCodes from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. StockNews.com raised AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Monday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of AudioCodes in a research note on Tuesday.

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.