American Century Companies Inc. Raises Stake in Olaplex Holdings, Inc. (NASDAQ:OLPX)

American Century Companies Inc. lifted its stake in shares of Olaplex Holdings, Inc. (NASDAQ:OLPX) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 568,149 shares of the company’s stock after purchasing an additional 41,670 shares during the quarter. American Century Companies Inc. owned about 0.09% of Olaplex worth $983,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Geode Capital Management LLC grew its position in Olaplex by 14.5% during 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 during the period. Jane Street Group LLC grew its holdings in shares of Olaplex by 5,728.5% in the 3rd quarter. Jane Street Group LLC now owns 2,633,397 shares of the company’s stock worth $6,188,000 after acquiring an additional 2,588,216 shares during the period. Franklin Resources Inc. purchased a new position in Olaplex in the 3rd quarter valued at approximately $664,000. Ninety One UK Ltd raised its holdings in Olaplex by 99.3% during the fourth quarter. Ninety One UK Ltd now owns 4,239,796 shares of the company’s stock worth $7,335,000 after purchasing an additional 2,112,009 shares during the last quarter. Finally, Boston Partners boosted its position in Olaplex by 276.0% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 87.37% 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 target on shares of Olaplex in a research note on Wednesday, March 12th. Barclays upped their price target on shares of Olaplex from $1.50 to $1.70 and gave the company an “equal weight” rating in a report on Wednesday, March 5th. Finally, Piper Sandler raised their price objective on shares of Olaplex from $1.50 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th.

Insider Activity

In other 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Trisha L. Fox sold 26,526 shares of Olaplex stock in a transaction on Friday, March 7th. The shares were sold at an average price of $1.44, for a total value of $38,197.44. Following the completion of the transaction, the insider now owns 461,548 shares in the company, valued at $664,629.12. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

Olaplex Stock Performance

Shares of NASDAQ OLPX opened at $1.23 on Friday. The company has a 50-day simple moving average of $1.38 and a 200-day simple moving average of $1.72. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.84 and a quick ratio of 10.32. The company has a market cap of $817.48 million, a PE ratio of 20.50 and a beta of 2.39. Olaplex Holdings, Inc. has a 12 month low of $1.01 and a 12 month high of $2.77.

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.