** * Shares of Israeli-based online cosmetics retailer Oddity Tech ODD.O down 7.4% premarket to $64.86 after CEO offloads some stock
** Co late Mon announced entity affiliated with co-founder and CEO Oran Holtzman sold 5.5 mln shares in Rule 144/unregistered block, which is being handled by JP Morgan
** Transaction to enhance free float and trading liquidity of the stock, co said in the statement
** Holtzman has no plan or intention to sell additional shares and entered a 1-year lock-up agreement, it said
** Following the transaction, Holtzman holds ~23% ownership stake and controls majority of voting power
** ODD has ~55.8 mln shares outstanding for ~$3.9 bln market cap and ~33 mln shares of public float, per LSEG data
** Shares on Mon hit fresh record intra-day high of $73 before closing down 1.3% at $70.08
** Shares have surged nearly 50% since Apr 29, when owner of the IL MAKIAGE and SpoiledChild brands boosted its full-yr outlook
** Of 9 analysts covering ODD, 6 rate "strong buy" or "buy", rest rate "hold"; median PT of $65 up from $54 a month ago, latest LSEG data shows
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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