Olaplex (NASDAQ:OLPX) Insider Sells $33,300.96 in Stock

Olaplex Holdings, Inc. (NASDAQ:OLPX) insider Trisha Fox sold 16,324 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $2.04, for a total transaction of $33,300.96. Following the transaction, the insider directly owned 1,064,039 shares of the company’s stock, valued at approximately $2,170,639.56. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Olaplex Trading Up 1.0%

OLPX stock traded up $0.02 during mid-day trading on Wednesday, hitting $2.06. 5,443,060 shares of the company were exchanged, compared to its average volume of 3,863,804. The company has a quick ratio of 5.34, a current ratio of 6.27 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.38 billion, a P/E ratio of -103.00 and a beta of 1.87. The business has a fifty day simple moving average of $1.91 and a 200-day simple moving average of $1.58. Olaplex Holdings, Inc. has a 12-month low of $0.99 and a 12-month high of $2.06.

Olaplex (NASDAQ:OLPX) last announced its earnings results on Monday, May 11th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $99.37 million during the quarter, compared to analyst estimates of $94.11 million. Olaplex had a negative net margin of 3.53% and a positive return on equity of 2.23%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities research analysts predict that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on OLPX shares. Zacks Research raised shares of Olaplex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Morgan Stanley set a $1.40 price objective on shares of Olaplex in a research note on Tuesday, March 10th. Evercore set a $2.50 price objective on shares of Olaplex in a research note on Friday, March 6th. Wall Street Zen raised shares of Olaplex from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Canaccord Genuity Group lowered shares of Olaplex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.92.

Institutional Trading of Olaplex

Several hedge funds have recently added to or reduced their stakes in OLPX. Empowered Funds LLC acquired a new stake in Olaplex in the first quarter valued at approximately $576,000. Jane Street Group LLC raised its holdings 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 acquiring an additional 258,873 shares in the last quarter. Creative Planning raised its holdings in Olaplex by 35.0% in the second quarter. Creative Planning now owns 37,357 shares of the company’s stock valued at $52,000 after acquiring an additional 9,690 shares in the last quarter. Norges Bank acquired a new stake in Olaplex in the second quarter valued at approximately $105,000. Finally, Marshall Wace LLP raised its holdings in Olaplex by 121.4% in the second quarter. Marshall Wace LLP now owns 346,347 shares of the company’s stock valued at $485,000 after acquiring an additional 189,947 shares in the last quarter. Institutional investors and hedge funds own 87.37% of the company’s stock.

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.