The share value of Oddity Tech (Nasdaq: ODD) has reached an all-time excessive just lately, and CEO Oran Holtzman has exploited the chance to promote a considerable a part of his holding within the firm for $385 million ($375 million internet). Holtzman bought 5.5 million shares at $70 per share, by JP Morgan.
After the transaction was reported, Oddity Tech’s share value fell 8.9% in late buying and selling yesterday to $63.85. Buyers apparently noticed Holtzman as promoting on the peak, and determined to do the identical.
Earlier than the sale, Holtzman held greater than a 3rd of the shares within the firm (Oddity Tech has two varieties of share). His stake has now fallen to 23%, however he retains a majority of the voting rights. His remaining shares are price $824 million on the value set in late buying and selling.
This isn’t Holtzman’s first sale of shares in Oddity Tech. Earlier than its flotation in 2023, he bought shares for tens of thousands and thousands of {dollars}, and within the flotation itself he bought shares for $200 million in a proposal on the market. Louis Vuitton’s L Catterton has additionally bought shares within the firm at a good-looking revenue.
Oddity Tech stated in its announcement that “the transaction will improve the free float and buying and selling liquidity of ODDITY inventory.” It added that Holtzman didn’t plan to promote extra shares, and meant to protect his management of the corporate. He has entered right into a lock-up settlement for a interval of 1 12 months.
Oddity Tech, based mostly in Tel Aviv, describes itself as “a client tech firm that builds digital-first manufacturers for the sweetness and wellness industries in the USA and internationally.” It owns the Il Makiage cosmetics model. Holtzman, then 29, purchased management of the corporate, which had money owed amounting to NIS 40 million, for NIS 12 million, utilizing loans and a mortgage on his residence.
Within the following years, collectively along with his sister Shiran Holtzman-Erel, who was appointed chief product officer, he put collectively a strategic plan for the corporate, expanded its worldwide exercise, and branded it as a know-how firm facilitating on-line purchases of customized cosmetics. Its market cap is $3.9 billion.
In its first quarter 2025 financials, Oddity Tech beat analysts estimates, reporting income of $268 million, 26.7% greater than within the corresponding quarter, and non-GAAP earnings per share of $0.63, $0.10 larger than within the corresponding quarter. The corporate additionally raised its steering, and sees income of $790-798 million in 2025, adjusted EBITDA of $157-161 million, and earnings per share of $1.99-2.04.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on Might 13, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
