Insider Selling: Olaplex Holdings, Inc. (NASDAQ:OLPX) VP Sells $71,366.40 in Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) VP Kristi A. Belhumeur sold 42,480 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $1.68, for a total value of $71,366.40. Following the transaction, the vice president now directly owns 294,553 shares of the company’s stock, valued at $494,849.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Olaplex Stock Up 3.1 %

OLPX opened at $1.64 on Friday. The business has a 50 day moving average price of $1.64 and a two-hundred day moving average price of $1.96. The company has a quick ratio of 9.21, a current ratio of 10.92 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.09 billion, a PE ratio of 23.43 and a beta of 2.34. Olaplex Holdings, Inc. has a 52 week low of $1.19 and a 52 week high of $4.27.

Olaplex (NASDAQ:OLPX) last released its earnings results on Thursday, May 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Olaplex had a return on equity of 11.68% and a net margin of 10.91%. The company had revenue of $98.90 million for the quarter, compared to analysts’ expectations of $95.15 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The firm’s quarterly revenue was down 13.1% on a year-over-year basis. As a group, research analysts anticipate that Olaplex Holdings, Inc. will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

OLPX has been the subject of several analyst reports. Piper Sandler raised Olaplex from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $1.25 to $2.00 in a research report on Tuesday, March 19th. Truist Financial lowered their price objective on Olaplex from $7.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 4th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research report on Thursday, May 2nd. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Olaplex presently has a consensus rating of “Hold” and an average price target of $2.59.

Hedge Funds Weigh In On Olaplex

Several hedge funds and other institutional investors have recently bought and sold shares of OLPX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Olaplex by 99.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,895 shares of the company’s stock worth $80,000 after purchasing an additional 20,383 shares during the last quarter. Panagora Asset Management Inc. increased its position in Olaplex by 579.2% during the third quarter. Panagora Asset Management Inc. now owns 296,499 shares of the company’s stock worth $578,000 after buying an additional 252,848 shares in the last quarter. M&T Bank Corp purchased a new position in Olaplex during the third quarter worth $36,000. Victory Capital Management Inc. increased its position in Olaplex by 311.7% during the third quarter. Victory Capital Management Inc. now owns 55,598 shares of the company’s stock worth $108,000 after buying an additional 42,093 shares in the last quarter. Finally, Pathstone Family Office LLC increased its position in Olaplex by 95.1% during the third quarter. Pathstone Family Office LLC now owns 26,287 shares of the company’s stock worth $51,000 after buying an additional 12,813 shares in the last quarter. 87.37% of the stock is owned by institutional investors and hedge funds.

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.