Norges Bank Makes New $130,000 Investment in Olaplex Holdings, Inc. (NASDAQ:OLPX)

Norges Bank bought a new stake in Olaplex Holdings, Inc. (NASDAQ:OLPX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 75,131 shares of the company’s stock, valued at approximately $130,000.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners raised its stake in Olaplex by 276.0% in the 4th quarter. Boston Partners now owns 6,674,169 shares of the company’s stock valued at $11,257,000 after purchasing an additional 4,899,171 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Olaplex by 5,728.5% during the third quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after buying an additional 2,588,216 shares in the last quarter. Ninety One UK Ltd raised its position in shares of 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 buying an additional 2,112,009 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Olaplex by 14.5% in the third quarter. Geode Capital Management LLC now owns 3,708,821 shares of the company’s stock worth $8,717,000 after buying an additional 468,570 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Olaplex in the third quarter worth about $664,000. 87.37% of the stock is owned by institutional investors and hedge funds.

Olaplex Stock Down 2.4 %

OLPX stock opened at $1.20 on Friday. 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 $797.54 million, a PE ratio of 20.00 and a beta of 2.39. The firm’s 50 day moving average price is $1.37 and its 200-day moving average price is $1.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 10.32 and a current ratio of 11.84.

Insider Activity

In other Olaplex news, 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 transaction, the general counsel now directly owns 348,630 shares in the company, valued at $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 available at the SEC website. Also, insider Trisha L. Fox sold 26,526 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 $38,197.44. Following the transaction, the insider now owns 461,548 shares of the company’s stock, valued at approximately $664,629.12. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

OLPX has been the subject of several research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price objective on shares of Olaplex in a research note on Wednesday, March 12th. Piper Sandler increased their price target on Olaplex from $1.50 to $2.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Barclays lifted their price objective on Olaplex from $1.50 to $1.70 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th.

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.