First Trust Advisors LP Sells 1,222,822 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

First Trust Advisors LP lowered its holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 66.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 604,097 shares of the company's stock after selling 1,222,822 shares during the quarter. First Trust Advisors LP owned about 0.09% of Olaplex worth $1,045,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. purchased a new stake in shares of Olaplex in the third quarter worth approximately $664,000. Ninety One UK Ltd lifted its stake 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 acquiring an additional 2,112,009 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Olaplex during the 4th quarter valued at $43,000. Boston Partners raised its stake in shares of Olaplex by 276.0% during the 4th quarter. Boston Partners now owns 6,674,169 shares of the company's stock worth $11,257,000 after purchasing an additional 4,899,171 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Olaplex by 9.6% in the 4th quarter. Renaissance Technologies LLC now owns 3,076,969 shares of the company's stock worth $5,323,000 after buying an additional 268,969 shares during the last quarter. 87.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel John C. Duffy sold 35,013 shares of the company's 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 $50,418.72. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Trisha L. Fox sold 26,526 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction of $38,197.44. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 73,269 shares of company stock worth $103,161 over the last ninety days. Company insiders own 4.30% of the company's stock.

Olaplex Price Performance

Shares of OLPX traded down $0.11 during midday trading on Tuesday, hitting $1.23. 1,061,655 shares of the company traded hands, compared to its average volume of 2,152,465. The stock has a 50-day moving average of $1.29 and a 200-day moving average of $1.57. Olaplex Holdings, Inc. has a one year low of $1.01 and a one year high of $2.77. The firm has a market cap of $818.88 million, a P/E ratio of 20.50 and a beta of 2.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OLPX. Telsey Advisory Group reissued a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a report on Friday. Barclays upped their price objective on shares of Olaplex from $1.20 to $1.40 and gave the company an "equal weight" rating in a report on Monday.

About Olaplex

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.