Olaplex Holdings, Inc. $OLPX Shares Sold by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its stake in Olaplex by 47.5% in Q4, selling 549,497 shares and now holding 606,213 shares worth about $810,000.
• Insiders sold meaningful stock in March (notably Trisha L. Fox and John C. Duffy); insiders have sold 215,442 shares (~$271,457) over the past 90 days and now own 4.30% of the company.
• Analyst sentiment is mixed with a consensus "Hold" and $1.92 target; Olaplex reported $105.12M revenue and $0.01 EPS (meeting estimates) but trades with a negative PE (-203) and a market cap of about $1.36 billion.

State of Alaska Department of Revenue cut its stake in Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 47.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606,213 shares of the company's stock after selling 549,497 shares during the quarter. State of Alaska Department of Revenue owned about 0.09% of Olaplex worth $810,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in OLPX. Chilton Capital Management LLC acquired a new position in shares of Olaplex during the third quarter worth about $26,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Olaplex during the third quarter worth about $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Olaplex during the third quarter worth about $32,000. BNP Paribas Financial Markets lifted its stake in shares of Olaplex by 95.4% during the third quarter. BNP Paribas Financial Markets now owns 29,707 shares of the company's stock worth $39,000 after purchasing an additional 14,507 shares in the last quarter. Finally, Savant Capital LLC acquired a new stake in Olaplex in the third quarter valued at approximately $43,000. 87.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OLPX has been the subject of several recent research reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Olaplex in a research report on Wednesday, March 4th. Northland Securities downgraded shares of Olaplex from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Olaplex in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Olaplex from a "strong sell" rating to a "hold" rating in a report on Thursday, February 19th. Finally, Telsey Advisory Group boosted their price objective on shares of Olaplex from $2.00 to $2.06 and gave the stock a "market perform" rating in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Olaplex currently has an average rating of "Hold" and a consensus target price of $1.92.

Insider Activity at Olaplex

In related news, insider Trisha L. Fox sold 25,421 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total value of $32,030.46. Following the sale, the insider directly owned 1,080,363 shares of the company's stock, valued at $1,361,257.38. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel John C. Duffy sold 34,962 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $1.26, for a total transaction of $44,052.12. Following the completion of the sale, the general counsel directly owned 982,855 shares in the company, valued at $1,238,397.30. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 215,442 shares of company stock valued at $271,457 over the last ninety days. Corporate insiders own 4.30% of the company's stock.

Olaplex Price Performance

Shares of NASDAQ OLPX opened at $2.03 on Thursday. Olaplex Holdings, Inc. has a fifty-two week low of $0.99 and a fifty-two week high of $2.04. The business has a 50 day moving average price of $1.68 and a two-hundred day moving average price of $1.44. The company has a quick ratio of 4.00, a current ratio of 4.58 and a debt-to-equity ratio of 0.40. The firm has a market cap of $1.36 billion, a PE ratio of -203.00 and a beta of 2.01.

Olaplex (NASDAQ:OLPX - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $105.12 million during the quarter, compared to analyst estimates of $104.21 million. Olaplex had a positive return on equity of 1.07% and a negative net margin of 2.19%.Olaplex's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. Sell-side analysts expect that Olaplex Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

About Olaplex

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.

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