T. Rowe Price Investment Management Inc. lifted its position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX - Free Report) by 181.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,500,600 shares of the company's stock after buying an additional 15,800,642 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.70% of Olaplex worth $42,387,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Olaplex by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company's stock worth $8,717,000 after acquiring an additional 468,570 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Olaplex during the third quarter worth about $664,000. Chemistry Wealth Management LLC acquired a new stake in shares of Olaplex in the fourth quarter worth approximately $25,000. Cornerstone Wealth Management LLC purchased a new position in shares of Olaplex in the fourth quarter worth about $36,000. Finally, Ninety One UK Ltd lifted its holdings in Olaplex by 99.3% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 87.37% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on OLPX. Piper Sandler boosted their price target on shares of Olaplex from $1.50 to $2.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Barclays lifted their price objective on shares of Olaplex from $1.50 to $1.70 and gave the company an "equal weight" rating in a research report on Wednesday, March 5th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $2.00 price target on shares of Olaplex in a report on Friday.
Get Our Latest Analysis on OLPX
Insider Transactions at Olaplex
In other news, insider Trisha L. Fox sold 26,526 shares of Olaplex stock in a transaction dated 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 sale, the insider now directly owns 461,548 shares in the company, valued at $664,629.12. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John C. Duffy sold 35,013 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $1.44, for a total transaction of $50,418.72. Following the completion of the sale, the general counsel now owns 348,630 shares of the company's stock, valued at $502,027.20. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,269 shares of company stock valued at $103,161. 4.20% of the stock is currently owned by corporate insiders.
Olaplex Stock Performance
Shares of Olaplex stock traded up $0.08 during trading hours on Friday, reaching $1.39. The company's stock had a trading volume of 388,622 shares, compared to its average volume of 2,163,627. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84. The company's 50 day simple moving average is $1.32 and its 200 day simple moving average is $1.62. The stock has a market cap of $922.07 million, a P/E ratio of 23.09 and a beta of 2.39. Olaplex Holdings, Inc. has a one year low of $1.01 and a one year high of $2.77.
Olaplex Profile
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Free Report)
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.
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