Idt CAO & controller Mitch Silberman sells stock worth $255k

IDT Corp. CEO Mitch Silberman recently divested a portion of his Class B common stock holdings, selling approximately $255,000 worth of shares between October 13 and 15, 2026. The stock traded at $82.24 during this period, just 1% below its 52-week high of $82.91. Silberman's sale followed a significant year-over-year gain of 72.5% for the company's stock.

A day prior, Silberman purchased 3,474 shares at $81.825 per share, totaling $284,260, after the vesting of 1,737 deferred stock units (DSUs). Two hundred ninety-three shares were withheld by IDT to satisfy tax obligations related to the DSU vesting. Following these transactions, Silberman's direct beneficial ownership in the Class B common stock from these activities became zero, though he retains an indirect ownership of 68 shares through a 401(k) Plan as of September 30, 2026.

IDT Corporation reported record fiscal year results, with a 7% increase in revenue to $339.0 million in the fourth quarter of fiscal 2026. The company also achieved higher profit margins and gross profit, gross margin, and adjusted EBITDA compared to previous quarters. This strong performance led Freedom Broker analyst Mikhail Paramonov to raise IDT's price target to $85 from $75, maintaining a Buy rating.

Investors reacted positively to these developments, with the stock price rising in after-hours trading following the announcement.