Oran Holtzman, co-founder CEO of Oddity Tech, sold 5.5 million Class A ordinary shares worth $385 million after the stock hit an all-time high. The transaction reduces his stake in the company to 23%. However, he retains a majority of the voting rights.Oddity Tech, the owner of Il Makiage and SpoiledChild, raised its 2025 financial forecast following its strong first-quarter results with net revenue of $268 million, up 27% year over year, and adjusted EBITDA of $52 million.The Israeli-based company went public in July 2023, selling 12.1 million shares, raising approximately $424 million. The first day of trading ended with a market capitalization of $2.69 billion.The share price of Oddity Tech recently hit an all-time high, and Holtzman exploited the opportunity to sell a substantial stake in the company. He sold 5.5 million shares at $70 per share, through JP Morgan for $385 million ($375 million net). Immediately following the trade, the company's shares fell 8.9%.This is not the first time Holtzman has sold shares. Before the IPO in 2023, he sold shares for tens of millions of dollars before the IPO, and in the flotation itself, he sold shares for $200 million in an offer for sale.Oddity Tech said in a statement, "Mr. Holtzman has no plan or intention to sell additional shares of the Company's stock, and he intends to preserve his control in the Company. As part of the transaction, Mr. Holtzman has entered into a lock-up agreement for a period of 1 year."