What happened
Shabtai Adlersberg, President and CEO of Audiocodes Ltd (NASDAQ: AUDC), bought 17,000 ordinary shares on three straight days, Nov. 9 to Nov. 11.
He bought 10,000 shares on Nov. 9 at a weighted average price of $8.38, 5,000 shares on Nov. 10 at $8.46 and 2,000 shares on Nov. 11 at $8.67. The three purchases totaled about $143,409.
The filing's footnotes put individual trades between $8.04 and $8.70. The weighted average price rose with each day's lot. After the last purchase, Adlersberg held 4,985,192 shares directly.
The filing says the purchases met the conditions of Rule 10b-18, a federal rule on how shares are bought in the open market. It also says Adlersberg will give the number of shares bought at each separate price on request.
Key numbers
| Metric | Latest | Change | Source |
|---|---|---|---|
| Shares bought, Nov. 9 to Nov. 11 | 17,000 shares | SEC Form 4 | |
| Total purchase amount | about $143,409 | SEC Form 4 | |
| Weighted average price range across the three days | $8.38 to $8.67 | SEC Form 4 | |
| Shares held after the purchases | 4,985,192 shares | SEC Form 4 | |
| Purchase as a share of the prior holding (OptimistFi calculation) | about 0.3% | Calculated from SEC Form 4 |
Read more: Audiocodes (AUDC) company research
Why it matters
The CEO added to a large stake, so the holding barely changes. OptimistFi calculates that the shares bought were about 0.3% of the 4,968,192 shares he held before the trade.
OptimistFi has argued that AudioCodes is investable only if its specialized voice-communications role stays necessary in cloud communications and management turns stable high gross profit into recovering earnings and cash flow. Buying by the top executive on three straight days is consistent with that case, and OptimistFi treats it as a modest positive.
The signal has limits. A single insider purchase does not show that revenue, earnings, cash flow or competitive position has improved. The purchase is also small next to the existing stake, so it adds little to the CEO's exposure.
The purchases were open-market trades held directly by Adlersberg, the only reporting person on the Form 4. He signed it on Nov. 12, one day after the last purchase.
Stock perps: every US stock that trades as a perpetual future, by leverage, live
What's next
The next quarterly report from Audiocodes Ltd is the next test of the case. Recovering earnings and cash flow on steady gross profit would strengthen it. Flat or weaker results would show that one purchase carried little weight.
More from OptimistFi
From OptimistFi Perps
- Top perps movers today: stocks, commodities, FX and indices
- Open interest live: crypto and stock perps by exchange
- All perp markets: price, open interest and funding by venue
- Futures calculator: liquidation price, PnL and fees by exchange
- Perp funding rates live: what longs and shorts pay on every venue
- Stock perps vs tokenized stocks: how US shares trade around the clock
Sources
- SEC Form 4, Shabtai Adlersberg, Audiocodes Ltd — Statement of changes in beneficial ownership reporting purchases on Nov. 9, Nov. 10 and Nov. 11, 2026, signed Nov. 12.
Explore OptimistFi research on Audiocodes Ltd: https://optimistfi.com/stocks/AUDC
Browse Audiocodes Ltd company coverage and explore the OptimistFi Thesis-Break Engine.
Browse every company OptimistFi covers at optimistfi.com/stocks, or read the latest evidence-first research.
Find available research on the Audiocodes Ltd company page.
Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.
