Insider Selling: Olaplex (NASDAQ:OLPX) General Counsel Sells 34,962 Shares of Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) General Counsel John Duffy sold 34,962 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $1.26, for a total transaction of $44,052.12. Following the transaction, the general counsel owned 982,855 shares in the company, valued at approximately $1,238,397.30. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Olaplex Trading Up 4.2%

Olaplex stock traded up $0.05 during trading on Monday, reaching $1.25. The company had a trading volume of 1,389,924 shares, compared to its average volume of 1,785,522. Olaplex Holdings, Inc. has a 12-month low of $0.99 and a 12-month high of $1.84. The stock’s 50 day moving average price is $1.54 and its two-hundred day moving average price is $1.36. The firm has a market capitalization of $836.75 million, a price-to-earnings ratio of -125.00 and a beta of 2.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.00 and a current ratio of 4.58.

Olaplex (NASDAQ:OLPX) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Olaplex had a negative net margin of 2.19% and a positive return on equity of 1.07%. The company had revenue of $105.12 million for the quarter, compared to the consensus estimate of $104.21 million. During the same quarter last year, the firm posted $0.01 earnings per share. Olaplex’s revenue was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Olaplex Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.

Institutional Trading of Olaplex

A number of hedge funds have recently made changes to their positions in the company. Portolan Capital Management LLC boosted its stake in shares of Olaplex by 132.6% in the third quarter. Portolan Capital Management LLC now owns 3,635,124 shares of the company’s stock valued at $4,762,000 after purchasing an additional 2,072,383 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Olaplex during the 2nd quarter worth $75,000. Dynamic Technology Lab Private Ltd increased its stake in Olaplex by 139.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 93,933 shares of the company’s stock worth $132,000 after buying an additional 54,781 shares during the period. Savant Capital LLC acquired a new position in Olaplex in the 3rd quarter worth $43,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Olaplex in the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 87.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OLPX shares. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price target on shares of Olaplex in a research report on Monday, March 2nd. Northland Securities started coverage on Olaplex in a research note on Thursday, November 20th. They issued an “outperform” rating and a $2.00 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Olaplex in a report on Thursday, January 22nd. Barclays set a $1.75 price target on shares of Olaplex in a report on Friday, January 16th. Finally, Evercore set a $2.50 price target on shares of Olaplex in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Olaplex presently has a consensus rating of “Hold” and a consensus price target of $1.88.

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.