Revolve Group, Inc. (NYSE:RVLV) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of Revolve Group, Inc. (NYSE:RVLV) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 304,393 shares of the company’s stock after selling 10,040 shares during the period. Envestnet Asset Management Inc. owned approximately 0.43% of Revolve Group worth $4,843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of Revolve Group by 7.1% during the 2nd quarter. Federated Hermes Inc. now owns 78,934 shares of the company’s stock worth $1,256,000 after buying an additional 5,251 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Revolve Group during the 2nd quarter worth $165,000. Quest Partners LLC acquired a new stake in shares of Revolve Group during the 2nd quarter worth $274,000. Koss Olinger Consulting LLC acquired a new stake in shares of Revolve Group during the 2nd quarter worth $1,039,000. Finally, Pier 88 Investment Partners LLC acquired a new stake in shares of Revolve Group during the 2nd quarter worth $182,000. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Revolve Group Price Performance

NYSE:RVLV opened at $24.78 on Tuesday. The firm has a 50-day moving average of $22.40 and a two-hundred day moving average of $20.06. The stock has a market cap of $1.75 billion, a P/E ratio of 72.88, a PEG ratio of 2.48 and a beta of 2.04. Revolve Group, Inc. has a 1-year low of $12.42 and a 1-year high of $26.14.

Revolve Group (NYSE:RVLV) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. Revolve Group had a net margin of 3.08% and a return on equity of 8.35%. The business had revenue of $282.50 million for the quarter, compared to analysts’ expectations of $277.06 million. During the same quarter last year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts expect that Revolve Group, Inc. will post 0.56 earnings per share for the current year.

Insider Transactions at Revolve Group

In other news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.92, for a total transaction of $168,298.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 46.56% of the company’s stock.

Analyst Ratings Changes

RVLV has been the subject of a number of research analyst reports. Piper Sandler restated an “overweight” rating and set a $30.00 price objective on shares of Revolve Group in a report on Friday, August 23rd. Wedbush reiterated a “neutral” rating and issued a $19.00 price target on shares of Revolve Group in a report on Wednesday, August 7th. Barclays lowered their price target on Revolve Group from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Thursday, July 18th. Robert W. Baird increased their price target on Revolve Group from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Finally, TD Cowen increased their price target on Revolve Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.44.

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.