Insider Buying: Olaplex Holdings, Inc. (NASDAQ:OLPX) Insider Purchases 10,000 Shares of Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) insider Kenneth F. Egan bought 10,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $1.34 per share, with a total value of $13,400.00. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $13,400. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Olaplex Stock Down 5.9 %

OLPX opened at $1.27 on Wednesday. Olaplex Holdings, Inc. has a 1-year low of $1.19 and a 1-year high of $2.77. The company has a current ratio of 11.84, a quick ratio of 10.32 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $844.07 million, a price-to-earnings ratio of 21.17 and a beta of 2.44. The business has a 50 day moving average of $1.50 and a 200-day moving average of $1.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OLPX shares. Piper Sandler upped their target price on Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Olaplex in a research report on Wednesday, March 12th. Finally, Barclays upped their target price on Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th.

Institutional Investors Weigh In On Olaplex

Several hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. boosted its position in shares of Olaplex by 181.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 24,500,600 shares of the company’s stock valued at $42,387,000 after acquiring an additional 15,800,642 shares during the period. Boston Partners raised its stake in shares of Olaplex by 276.0% in the fourth quarter. Boston Partners now owns 6,674,169 shares of the company’s stock valued at $11,257,000 after purchasing an additional 4,899,171 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Olaplex by 99.3% in the fourth quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock valued at $7,335,000 after purchasing an additional 2,112,009 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Olaplex by 14.5% in the third quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock valued at $8,717,000 after purchasing an additional 468,570 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Olaplex by 9.6% in the fourth quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company’s stock valued at $5,323,000 after purchasing an additional 268,969 shares in the last quarter. 87.37% of the stock is owned by institutional investors.

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.