Bank of New York Mellon Corp Reduces Position in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Bank of New York Mellon Corp decreased its position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 52.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 388,741 shares of the company's stock after selling 434,074 shares during the period. Bank of New York Mellon Corp owned approximately 0.06% of Olaplex worth $673,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of Olaplex by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company's stock valued at $8,717,000 after acquiring an additional 468,570 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Olaplex by 5,728.5% in the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company's stock valued at $6,188,000 after purchasing an additional 2,588,216 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Olaplex in the 3rd quarter worth approximately $664,000. Ninety One UK Ltd raised its holdings in Olaplex by 99.3% during the 4th quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company's stock valued at $7,335,000 after buying an additional 2,112,009 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Olaplex in the third quarter worth $80,000. Institutional investors own 87.37% of the company's stock.

Insider Buying and Selling

In other news, General Counsel John C. Duffy sold 35,013 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total value of $50,418.72. Following the completion of the transaction, the general counsel now directly owns 348,630 shares of the company's stock, valued at approximately $502,027.20. The trade was a 9.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Trisha L. Fox sold 26,526 shares of Olaplex stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the transaction, the insider now owns 461,548 shares in the company, valued at $664,629.12. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

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Olaplex Stock Down 0.8 %

NASDAQ OLPX traded down $0.01 during trading on Friday, reaching $1.32. 3,277,848 shares of the company's stock traded hands, compared to its average volume of 2,251,062. The company's 50 day simple moving average is $1.46 and its two-hundred day simple moving average is $1.81. Olaplex Holdings, Inc. has a 12-month low of $1.19 and a 12-month high of $2.77. The firm has a market cap of $877.30 million, a price-to-earnings ratio of 22.00 and a beta of 2.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler lifted their price target on shares of Olaplex from $1.50 to $2.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Telsey Advisory Group restated a "market perform" rating and set a $2.00 target price on shares of Olaplex in a research report on Wednesday, March 12th. Finally, Barclays raised their price target on Olaplex from $1.50 to $1.70 and gave the stock an "equal weight" rating in a research note on Wednesday, March 5th.

Olaplex Profile

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.