Revolve Group, Inc. (NYSE:RVLV) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC decreased its holdings in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 10.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 398,175 shares of the company's stock after selling 46,887 shares during the quarter. Verition Fund Management LLC owned 0.56% of Revolve Group worth $9,867,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Revolve Group by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company's stock worth $10,867,000 after buying an additional 123,745 shares during the period. Marshall Wace LLP grew its stake in Revolve Group by 141.2% in the 2nd quarter. Marshall Wace LLP now owns 478,623 shares of the company's stock worth $7,615,000 after acquiring an additional 280,151 shares in the last quarter. Millennium Management LLC increased its position in shares of Revolve Group by 68.1% during the second quarter. Millennium Management LLC now owns 342,084 shares of the company's stock worth $5,443,000 after acquiring an additional 138,600 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Revolve Group by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 315,213 shares of the company's stock valued at $7,811,000 after acquiring an additional 2,963 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of Revolve Group by 12,630.9% in the first quarter. Comerica Bank now owns 179,888 shares of the company's stock valued at $3,808,000 after purchasing an additional 178,475 shares during the period. Institutional investors own 67.60% of the company's stock.

Insiders Place Their Bets

In related news, CFO Jesse Timmermans sold 91,625 shares of Revolve Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $30.72, for a total transaction of $2,814,720.00. Following the completion of the transaction, the chief financial officer now directly owns 3,054 shares in the company, valued at approximately $93,818.88. This trade represents a 96.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Mente sold 71,463 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $35.20, for a total value of $2,515,497.60. Following the completion of the sale, the chief executive officer now owns 73,000 shares in the company, valued at approximately $2,569,600. This represents a 49.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 581,817 shares of company stock valued at $17,870,621. 46.56% of the stock is owned by company insiders.

Revolve Group Stock Down 2.3 %

Shares of Revolve Group stock traded down $0.85 during midday trading on Friday, hitting $36.08. The company had a trading volume of 678,090 shares, compared to its average volume of 1,177,251. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 64.43, a PEG ratio of 2.28 and a beta of 2.05. Revolve Group, Inc. has a 12-month low of $13.24 and a 12-month high of $39.03. The company has a fifty day simple moving average of $28.54 and a 200 day simple moving average of $22.77.

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

Analyst Ratings Changes

Several research analysts have commented on RVLV shares. Roth Mkm restated a "buy" rating and set a $35.00 price objective (up from $29.00) on shares of Revolve Group in a report on Wednesday, November 6th. BTIG Research raised their price target on Revolve Group from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Wedbush reaffirmed a "neutral" rating and issued a $19.00 price objective on shares of Revolve Group in a research note on Wednesday, August 7th. Piper Sandler increased their target price on shares of Revolve Group from $30.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday, November 6th. Finally, Barclays upgraded shares of Revolve Group from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $17.00 to $25.00 in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Revolve Group currently has a consensus rating of "Hold" and an average target price of $26.19.

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.