Vanguard Group Inc. Sells 211,528 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Vanguard Group Inc. lessened its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,799,308 shares of the company's stock after selling 211,528 shares during the period. Vanguard Group Inc. owned approximately 1.78% of Olaplex worth $20,413,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Chemistry Wealth Management LLC bought a new position in shares of Olaplex during the fourth quarter valued at $25,000. Cornerstone Wealth Management LLC purchased a new stake in Olaplex during the 4th quarter valued at about $36,000. Parkside Financial Bank & Trust increased its stake in Olaplex by 290.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 21,395 shares of the company's stock valued at $37,000 after purchasing an additional 15,911 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Olaplex during the 4th quarter valued at about $43,000. Finally, Virtu Financial LLC purchased a new position in Olaplex in the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 87.37% of the company's stock.

Wall Street Analysts Forecast Growth

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

Olaplex Stock Performance

Olaplex stock traded up $0.06 during midday trading on Friday, reaching $1.22. 946,385 shares of the company traded hands, compared to its average volume of 2,221,477. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. Olaplex Holdings, Inc. has a 12 month low of $1.01 and a 12 month high of $2.77. The firm has a market capitalization of $810.84 million, a price-to-earnings ratio of 20.34 and a beta of 2.39. The business has a 50 day moving average of $1.34 and a two-hundred day moving average of $1.67.

Insider Activity

In other Olaplex news, insider Trisha L. Fox sold 26,526 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the transaction, the insider now directly owns 461,548 shares in the company, valued at approximately $664,629.12. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel John C. Duffy sold 35,013 shares of the firm'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 in the company, valued at approximately $502,027.20. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,269 shares of company stock valued at $103,161 in the last ninety days. 4.20% of the stock is currently owned by company insiders.

Olaplex Company 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.