Insider Selling: Olaplex (NASDAQ:OLPX) Insider Sells 26,426 Shares of Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) insider Trisha Fox sold 26,426 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $1.26, for a total transaction of $33,296.76. Following the completion of the sale, the insider owned 721,169 shares in the company, valued at $908,672.94. This represents a 3.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Olaplex Stock Performance

NASDAQ:OLPX traded up $0.01 during trading hours on Wednesday, reaching $1.31. The company had a trading volume of 1,130,247 shares, compared to its average volume of 1,786,861. The firm has a market cap of $876.91 million, a price-to-earnings ratio of -131.00 and a beta of 2.24. The company has a current ratio of 4.58, a quick ratio of 4.00 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average price is $1.55 and its 200-day moving average price is $1.36. Olaplex Holdings, Inc. has a 52 week low of $0.99 and a 52 week high of $1.84.

Olaplex (NASDAQ:OLPX) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.The firm had revenue of $105.12 million for the quarter, compared to analysts’ expectations of $104.21 million. During the same period in the prior year, the firm earned $0.01 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, analysts forecast that Olaplex Holdings, Inc. will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Empowered Funds LLC purchased a new stake in Olaplex in the 1st quarter worth approximately $576,000. Jane Street Group LLC lifted its holdings in Olaplex by 151.8% during the first quarter. Jane Street Group LLC now owns 88,321 shares of the company’s stock valued at $112,000 after purchasing an additional 258,873 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Olaplex in the second quarter worth approximately $75,000. Creative Planning increased its stake in shares of Olaplex by 35.0% in the second quarter. Creative Planning now owns 37,357 shares of the company’s stock worth $52,000 after purchasing an additional 9,690 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Olaplex by 139.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 93,933 shares of the company’s stock valued at $132,000 after buying an additional 54,781 shares in the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Evercore set a $2.50 price target on shares of Olaplex in a research report on Friday, March 6th. Northland Securities started coverage on shares of Olaplex in a research report on Thursday, November 20th. They set an “outperform” rating and a $2.00 target price for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 target price on shares of Olaplex in a report on Monday, March 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of Olaplex in a research report on Wednesday, March 4th. Finally, Zacks Research upgraded shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.