Bank of New York Mellon Corp Sells 434,074 Shares of Olaplex Holdings, Inc. (NASDAQ:OLPX)

Bank of New York Mellon Corp lessened its position in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 52.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 388,741 shares of the company’s stock after selling 434,074 shares during the period. Bank of New York Mellon Corp’s holdings in Olaplex were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chemistry Wealth Management LLC purchased a new stake in shares of Olaplex in the 4th quarter valued at about $25,000. Cornerstone Wealth Management LLC purchased a new stake in Olaplex in the fourth quarter valued at approximately $36,000. Cinctive Capital Management LP bought a new stake in Olaplex during the third quarter valued at approximately $38,000. Abel Hall LLC grew its stake in Olaplex by 68.1% in the 3rd quarter. Abel Hall LLC now owns 18,261 shares of the company’s stock worth $43,000 after buying an additional 7,397 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Olaplex in the 3rd quarter worth $80,000. 87.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Olaplex in a report on Wednesday, March 12th. Finally, Barclays raised their price objective on Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a report on Wednesday, March 5th.

Olaplex Price Performance

Shares of NASDAQ:OLPX opened at $1.28 on Thursday. The company’s fifty day moving average is $1.47 and its 200 day moving average is $1.82. The company has a quick ratio of 10.32, a current ratio of 11.84 and a debt-to-equity ratio of 0.73. Olaplex Holdings, Inc. has a 52 week low of $1.19 and a 52 week high of $2.77. The stock has a market cap of $850.71 million, a PE ratio of 21.34 and a beta of 2.44.

Insider Transactions at Olaplex

In other news, General Counsel John C. Duffy sold 35,013 shares of the 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 $50,418.72. Following the completion of the sale, the general counsel now owns 348,630 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Also, insider Trisha L. Fox sold 26,526 shares of Olaplex stock in a transaction 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 directly owns 461,548 shares in the company, valued at approximately $664,629.12. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

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.