Revolve Group (NYSE:RVLV) Shares Down 5.3% Following Analyst Downgrade

Revolve Group, Inc. (NYSE:RVLV - Get Free Report)'s share price traded down 5.3% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $35.00 to $22.00. Piper Sandler currently has an overweight rating on the stock. Revolve Group traded as low as $19.14 and last traded at $19.01. 79,612 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,085,711 shares. The stock had previously closed at $20.08.

A number of other brokerages also recently weighed in on RVLV. Jefferies Financial Group raised shares of Revolve Group from a "hold" rating to a "buy" rating and set a $30.00 target price for the company in a research note on Friday, March 14th. KeyCorp raised Revolve Group from a "sector weight" rating to an "overweight" rating and set a $37.00 price objective for the company in a research report on Thursday, January 23rd. BMO Capital Markets boosted their target price on Revolve Group from $15.00 to $19.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Barclays raised their price target on Revolve Group from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Finally, Roth Mkm restated a "buy" rating and set a $36.00 price objective (up from $35.00) on shares of Revolve Group in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.87.

Insider Activity

In related news, CEO Michael Mente sold 66,413 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $30.48, for a total value of $2,024,268.24. Following the transaction, the chief executive officer now directly owns 73,000 shares of the company's stock, valued at approximately $2,225,040. The trade was a 47.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Karanikolas sold 12,566 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $25.94, for a total value of $325,962.04. Following the sale, the chief executive officer now directly owns 123,000 shares in the company, valued at $3,190,620. The trade was a 9.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 256,781 shares of company stock valued at $7,793,755 in the last 90 days. Company insiders own 46.56% of the company's stock.

Hedge Funds Weigh In On Revolve Group

Large investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. raised its position in Revolve Group by 596.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 795,607 shares of the company's stock worth $26,645,000 after purchasing an additional 681,451 shares during the period. Driehaus Capital Management LLC purchased a new stake in Revolve Group in the fourth quarter worth $14,531,000. Algert Global LLC boosted its position in Revolve Group by 235.6% in the 4th quarter. Algert Global LLC now owns 303,289 shares of the company's stock valued at $10,157,000 after buying an additional 212,914 shares during the period. Woodline Partners LP purchased a new stake in Revolve Group in the 4th quarter valued at about $6,477,000. Finally, Federated Hermes Inc. grew its stake in Revolve Group by 205.6% in the 4th quarter. Federated Hermes Inc. now owns 237,314 shares of the company's stock worth $7,948,000 after acquiring an additional 159,655 shares in the last quarter. Institutional investors own 67.60% of the company's stock.

Revolve Group Price Performance

The firm has a market capitalization of $1.39 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 1.48 and a beta of 2.10. The stock's 50-day moving average price is $24.39 and its 200 day moving average price is $28.70.

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.