Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Cettire (ASX:CTT) share price up despite 500K director sell down

Online retailer Cettire Ltd (ASX: CTT) share price is up 4.66% to $3.59 despite one of its directors selling over $500,000 in shares. 

Online luxury retailer Cettire Ltd (ASX: CTT) share price is up 4.08% to $3.57 despite one of its directors selling over $500,000 in shares.

CTT share price

Source: Rask Media CTT share price since IPO
Source: Rask Media CTT share price since IPO

Who sold shares today?

Non-Executive director Bruce Rathie has sold 200,000 shares on market for $2.55 per share. This has netted him $510,000.

He still owns 810,000 shares across three entities and its his first sell down since the company began public trading in December 2020.

Why did he sell shares?

No specific reason was given for the sell-down in the notice submitted to the ASX.

However, given the IPO priced shares at $0.50, this would mean shares today are a 7-bagger in under a year.

The sell-down only represents about 20% of Rathie’s shareholding. It seems reasonable to take some chips off the table given the impressive share price run.

Additionally, it’s not uncommon for directors to sell down shares after reporting season with four CEOs also selling shares last week.

How has the Cettire share price been performing recently?

Since its $0.50 IPO, the Cettire share price has been on an absolute tear.

In its most recent company update, the business recorded a whopping 304% jump in revenue to $92.4 million. This was well above its prospectus forecast of $70 million.

Furthermore, all key metrics are tracking well, with active customers, product margin and repeat customers all meaningfully increasing.

The market is divided on this business, given its opaque wholesale agreements with luxury brands.

However, it seems to be gaining solid traction and is looking to work directly with brand owners to complement its existing supply chain.

Should I buy Cettire shares today?

If you’re interested in the company, I wouldn’t let today’s director selling influence your decision.

Directors sell for a range of reasons, which may or may not be linked to the company.

If company founder and CEO Dean Mintz sold shares I would be a little more concerned. However, his 65.9% shareholding is escrowed until at least February 2022.

I would need to do a valuation of Cettire before deciding to buy shares or not.

If you’re looking to learn how to do your own ASX company valuations, take our free share valuation course, which takes you through 6 common share valuation techniques, step by step.

Or try our Beginner Shares Course if you’re just starting out. Both are free.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, Lachlan does not have a financial or commercial interest in any of the companies or funds mentioned.
Skip to content