Olaplex Holdings, Inc. (NASDAQ:OLPX) General Counsel Sells $50,418.72 in Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) General Counsel John C. Duffy sold 35,013 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the completion of the sale, the general counsel now directly owns 348,630 shares in the company, valued at approximately $502,027.20. This represents a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Olaplex Trading Down 6.0 %

Olaplex stock opened at $1.42 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. Olaplex Holdings, Inc. has a one year low of $1.19 and a one year high of $2.77. The stock has a market capitalization of $943.76 million, a PE ratio of 23.67 and a beta of 2.44. The business’s fifty day moving average is $1.53 and its 200 day moving average is $1.88.

Institutional Investors Weigh In On Olaplex

Several institutional investors have recently modified their holdings of OLPX. Victory Capital Management Inc. boosted its position in shares of Olaplex by 101.0% during the third quarter. Victory Capital Management Inc. now owns 128,079 shares of the company’s stock valued at $301,000 after buying an additional 64,370 shares during the last quarter. Intech Investment Management LLC bought a new position in Olaplex in the third quarter valued at about $80,000. Charles Schwab Investment Management Inc. lifted its holdings in Olaplex by 10.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,066,027 shares of the company’s stock valued at $2,505,000 after acquiring an additional 102,752 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Olaplex in the third quarter valued at about $141,000. Finally, MetLife Investment Management LLC lifted its holdings in Olaplex by 56.4% in the third quarter. MetLife Investment Management LLC now owns 57,903 shares of the company’s stock valued at $136,000 after acquiring an additional 20,891 shares during the period. 87.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OLPX. Telsey Advisory Group reissued a “market perform” rating and issued a $2.00 target price on shares of Olaplex in a research note on Wednesday. Piper Sandler increased their target price on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Barclays increased their target price on Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th.

About Olaplex

Olaplex Holdings, Inc develops, manufactures, and sells hair care products in the United States and internationally. The company offers hair care shampoos and conditioners for use in treatment, maintenance, and protection of hair, as well as oil, moisture mask, and nourishing hair serum. It provides hair care products to professional hair salons, retailers, and everyday consumers.