Revolve Group, Inc. (NYSE:RVLV) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Revolve Group, Inc. (NYSE:RVLV - Free Report) by 20.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 639,176 shares of the company's stock after selling 162,063 shares during the period. Allspring Global Investments Holdings LLC owned 0.90% of Revolve Group worth $15,839,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Revolve Group by 91.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,069 shares of the company's stock valued at $65,000 after purchasing an additional 1,940 shares in the last quarter. Quarry LP purchased a new stake in Revolve Group during the second quarter worth $68,000. American Century Companies Inc. purchased a new stake in Revolve Group during the second quarter worth $165,000. nVerses Capital LLC purchased a new position in shares of Revolve Group in the 3rd quarter valued at $171,000. Finally, Pier 88 Investment Partners LLC bought a new position in shares of Revolve Group in the 2nd quarter worth $182,000. Institutional investors own 67.60% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Mmmk Development, Inc. sold 33,164 shares of Revolve Group stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $26.26, for a total value of $870,886.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Revolve Group news, major shareholder Mmmk Development, Inc. sold 33,164 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $26.26, for a total transaction of $870,886.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Mente sold 36,114 shares of Revolve Group stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $25.95, for a total transaction of $937,158.30. Following the completion of the sale, the chief executive officer now owns 73,000 shares in the company, valued at approximately $1,894,350. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,573 shares of company stock valued at $3,260,634 over the last ninety days. Company insiders own 46.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on RVLV. BTIG Research lifted their target price on Revolve Group from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, August 16th. Robert W. Baird increased their target price on shares of Revolve Group from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, August 14th. TD Cowen raised their target price on shares of Revolve Group from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Monday, August 26th. Morgan Stanley reaffirmed an "equal weight" rating and set a $26.00 price target (up from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. Finally, Wedbush restated a "neutral" rating and set a $19.00 target price on shares of Revolve Group in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.25.

Revolve Group Trading Up 0.5 %

Shares of RVLV stock traded up $0.12 during trading hours on Friday, hitting $24.87. The company's stock had a trading volume of 458,756 shares, compared to its average volume of 1,003,859. The company has a 50 day moving average of $24.23 and a 200 day moving average of $20.69. Revolve Group, Inc. has a 12-month low of $12.42 and a 12-month high of $26.72. The stock has a market cap of $1.76 billion, a PE ratio of 73.15, a price-to-earnings-growth ratio of 2.47 and a beta of 2.05.

Revolve Group (NYSE:RVLV - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.13 by $0.08. The company had revenue of $282.50 million for the quarter, compared to analyst estimates of $277.06 million. Revolve Group had a net margin of 3.08% and a return on equity of 8.35%. The firm's revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, analysts anticipate that Revolve Group, Inc. will post 0.55 earnings per share for the current fiscal year.

About Revolve Group

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.