Step One Clothing Limited

ASX:STP

Step One Clothing Limited

ASX:STP
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$1.350 (-2.5%)
Last close price
#134
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11
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Reports (1) My Report Forum Investors
Forum Topics STP STP Greg Taylor Partial Share Sale

Pinned straw:
raymon68
Added 2 months ago

Market reaction down 9%

STEP ONE CLOTHING LIMITED (ASX:STP) - Ann: Greg Taylor Partial Share Sale, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Step One Clothing Limited Greg Taylor Partial Share Sale Step One Clothing Limited (ASX:STP) (“Step One” or “the Company”), a leading online direct-to-consumer innerwear brand, confirms that an entity associated with Mr. Greg Taylor, Founder and CEO, has agreed to sell down 16,632,352 fully paid ordinary shares in the Company, representing approximately 8.97% of its issued capital.

Mr. Michael Reddie, Director and Chief Legal Officer, has agreed to sell down 2,014,206 fully paid ordinary shares in the Company, representing approximately 1.09% of its issued capital.

The sales were undertaken at a price of $1.70 per ordinary share through a fully underwritten block trade. Following this sale, Mr. Taylor will retain approximately a 57.91% shareholding in the Company, remaining Step One’s largest shareholder.

Mr Taylor has reiterated his commitment to Step One as its Founder and CEO, and his intent to remain a substantial, long-term shareholder. Mr Taylor and Mr Reddie have agreed to escrow their remaining shares until the release of the Company’s full year results for the financial year ending 30 June 2025
Strawman
Added 2 months ago

Let’s be real -- if the vast bulk of my wealth was in one asset, even one I firmly believed in, and I could sell millions while keeping a big stake... yeah, I’m selling.

Not every insider sale is a sign of impending doom.

Afterpay co-founders sold shares in 2019-2020 around $30-$70; stock later soared over $150.

Fortescue Metals Andrew Forrest sold shares in 2013 around $3-4; stock later reached over $25.

Xero Founder Rod Drury sold shares in 2016 at $16.50; stock later surged past $150.

WiseTech Global CEO Richard White sold shares in 2019 around $30; stock later climbed above $60.


(I'm not trying to make any comment on StepOne specifically. But this one act by Greg wouldnt shift my thinking in and of itself)

26
raymon68
Added 2 months ago

Yes. Buy the dip opportunity CEO sells so I will buy some units today.

@Strawman That is right nothing structurally wrong with STP. Just the owner CEO selling at $1.70

my The Straw Portfolio ~ 1.2 % so can build this STP to a least 2% weight

so 600 units x 170cps will get the STP holding up to ~2%

~2% is generally seen as balanced holding within your portfolio

What do the straw people think about the portfolio stock weight rule?

15 stocks = even weight 6.66% = 100 / 15

My thoughts = A conviction trade can be 15%. Like let stock run compound when no other stock trade will do the job.

I am more convicted when the debt/ equity ratio is healthy 20% and the cash flow is growing YoY, and the net profit margin is more than 15%

and the dividend payout ratio is undemanding at 50% to 70%

*STP market cap is $312Mill so plenty of growth opportunity there also.

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