Fmr LLC Sells 28,600 Shares of Revolve Group, Inc. (NYSE:RVLV)

FMR LLC lowered its position in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,704,457 shares of the company's stock after selling 28,600 shares during the period. FMR LLC owned 8.08% of Revolve Group worth $141,356,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Marshall Wace LLP lifted its holdings in Revolve Group by 141.2% in the second quarter. Marshall Wace LLP now owns 478,623 shares of the company's stock worth $7,615,000 after purchasing an additional 280,151 shares during the period. Comerica Bank lifted its holdings in Revolve Group by 12,630.9% in the first quarter. Comerica Bank now owns 179,888 shares of the company's stock worth $3,808,000 after purchasing an additional 178,475 shares during the period. Millennium Management LLC lifted its holdings in Revolve Group by 68.1% in the second quarter. Millennium Management LLC now owns 342,084 shares of the company's stock worth $5,443,000 after purchasing an additional 138,600 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Revolve Group by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company's stock valued at $10,867,000 after acquiring an additional 123,745 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Revolve Group in the 3rd quarter valued at about $2,276,000. Institutional investors own 67.60% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler upped their price objective on shares of Revolve Group from $30.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, November 6th. TD Cowen upped their price objective on shares of Revolve Group from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Morgan Stanley reaffirmed an "equal weight" rating and set a $26.00 price objective (up from $17.00) on shares of Revolve Group in a research note on Monday, October 21st. UBS Group upped their price objective on shares of Revolve Group from $25.00 to $30.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $35.00 price objective (up from $29.00) on shares of Revolve Group in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Revolve Group currently has a consensus rating of "Hold" and an average price target of $26.19.

Insider Buying and Selling at Revolve Group

In other news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.92, for a total value of $168,298.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Mente sold 36,114 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $25.95, for a total value of $937,158.30. Following the completion of the sale, the chief executive officer now directly owns 73,000 shares of the company's stock, valued at $1,894,350. This represents a 33.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 770,512 shares of company stock worth $24,534,363 over the last 90 days. Insiders own 46.56% of the company's stock.

Revolve Group Price Performance

NYSE:RVLV traded up $0.15 during mid-day trading on Wednesday, reaching $35.68. The stock had a trading volume of 1,234,649 shares, compared to its average volume of 1,017,621. Revolve Group, Inc. has a fifty-two week low of $13.76 and a fifty-two week high of $39.03. The business's 50 day moving average is $28.95 and its 200 day moving average is $22.97. The stock has a market cap of $2.52 billion, a P/E ratio of 63.71, a PEG ratio of 2.29 and a beta of 2.19.

Revolve Group (NYSE:RVLV - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The company had revenue of $283.15 million for the quarter, compared to the consensus estimate of $271.08 million. During the same quarter last year, the company posted $0.04 earnings per share. The company's revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts expect that Revolve Group, Inc. will post 0.6 EPS for the current year.

Revolve Group Profile

Revolve Group, Inc operates as an online fashion retailer for millennial and generation z consumers in the United States and internationally. The company operates in two segments, REVOLVE and FWRD. It operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands.