State of Alaska Department of Revenue Sells 376,350 Shares of Olaplex Holdings, Inc. $OLPX

State of Alaska Department of Revenue cut its holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX) by 24.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,155,710 shares of the company’s stock after selling 376,350 shares during the period. State of Alaska Department of Revenue’s holdings in Olaplex were worth $1,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in Olaplex during the first quarter worth approximately $576,000. Jane Street Group LLC lifted its stake in Olaplex by 151.8% in the first quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock valued at $112,000 after buying an additional 258,873 shares during the period. Ninety One UK Ltd lifted its stake in Olaplex by 18.5% in the second quarter. Ninety One UK Ltd now owns 3,333,055 shares of the company’s stock valued at $4,666,000 after buying an additional 520,011 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Olaplex by 166.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 59,016 shares of the company’s stock worth $83,000 after buying an additional 36,887 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Olaplex by 14.8% during the 2nd quarter. TD Asset Management Inc now owns 779,630 shares of the company’s stock worth $1,091,000 after buying an additional 100,688 shares during the period. 87.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OLPX. Barclays dropped their target price on shares of Olaplex from $1.50 to $1.25 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Olaplex in a research note on Wednesday, October 8th. Northland Capmk raised shares of Olaplex to a “strong-buy” rating in a research report on Thursday, November 20th. Jefferies Financial Group initiated coverage on Olaplex in a research note on Wednesday. They issued a “hold” rating and a $1.50 target price for the company. Finally, Northland Securities began coverage on Olaplex in a research note on Thursday, November 20th. They set an “outperform” rating and a $2.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $1.75.

Olaplex Stock Performance

OLPX opened at $1.65 on Friday. Olaplex Holdings, Inc. has a 1-year low of $0.99 and a 1-year high of $1.84. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 82.00 and a beta of 2.25. The company’s fifty day moving average price is $1.28 and its two-hundred day moving average price is $1.33. The company has a current ratio of 4.16, a quick ratio of 3.52 and a debt-to-equity ratio of 0.40.

Olaplex (NASDAQ:OLPX) last posted its earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. Olaplex had a negative net margin of 1.18% and a positive return on equity of 1.31%. The company had revenue of $114.58 million during the quarter, compared to the consensus estimate of $109.77 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts expect that Olaplex Holdings, Inc. will post 0.1 EPS for the current fiscal year.

Olaplex Company Profile

Olaplex, Inc (NASDAQ: OLPX) is a specialty haircare company known for its patented bond-building technology designed to repair and strengthen hair from within. The company’s core offerings encompass a range of professional salon treatments and at-home maintenance products that target chemical damage, breakage and split ends. Olaplex formulations are built around a proprietary active ingredient that works at the molecular level to rebuild disulfide bonds broken during bleaching, coloring and heat styling processes.

Founded in 2014 and headquartered in Irvine, California, Olaplex initially gained traction among high-end salons before expanding into broader retail channels.