Torrid CEO Harper Sells 350,000 Common Shares at $3.32 per Share

Torrid CEO Lisa Harper sold 350,000 common shares on June 26 at a price of $3.3163 per share. This sale was disclosed in a regulatory filing.

Torrid Holdings Inc. (NYSE:CURV) CEO Lisa M. Harper sold 350,000 shares of the company's stock on Thursday, June 26th, according to a regulatory filing [1]. The transaction was completed at an average price of $3.3163 per share, totaling $1,162,000.00. Following the sale, Harper's stake in the company decreased to 5,266,453 shares, valued at $17,484,623.96. This represented a 6.23% decrease in her position.

The stock price of Torrid Holdings Inc. reacted to the news, with shares tumbling 27.1% premarket to $3.72, marking the lowest point since early December. The overnight secondary offering, which included the sale of 10 million shares at a discounted price of $3.50, contributed to the significant drop [2]. Additionally, the company concurrently repurchased $20 million worth of shares from private equity firm Sycamore Partners, which sold 9.65 million shares in the offering. Following these transactions, Sycamore Partners owns approximately 60.4 million shares, representing a 60% stake in the company, while Harper's stake was reduced to 4.8%.

Analysts have reacted to the recent developments. Goldman Sachs downgraded shares of Torrid to a "sell" rating and set a $4.00 price target [1]. BTIG Research initiated coverage on Torrid with a "neutral" rating [1]. Two analysts rated the stock with a sell rating, two issued a hold rating, and two issued a buy rating. The consensus rating among analysts is "Hold" with a median price target of $4.75 [1].

Torrid Holdings Inc. operates in the women's plus-size apparel and intimates market in North America. The company designs, develops, and merchandises its products under the Torrid, Torrid Curve, CURV, and Lovesick brand names. It sells a range of products including tops, bottoms, dresses, denims, activewear, intimates, sleepwear, swimwear, and outerwear, as well as non-apparel items such as accessories, footwear, and beauty products.

References:
[1] https://www.marketbeat.com/instant-alerts/lisa-m-harper-sells-350000-shares-of-torrid-holdings-inc-nysecurv-stock-2025-06-30/
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L6N3SS0XY:0-torrid-tumbles-after-deep-discounted-stock-sale-by-pe-sponsor-ceo/