Allspring Global Investments Holdings LLC Reduces Stock Holdings in Revolve Group, Inc. (NYSE:RVLV)

Allspring Global Investments Holdings LLC cut its position in Revolve Group, Inc. (NYSE:RVLV) by 20.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 639,176 shares of the company’s stock after selling 162,063 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Revolve Group were worth $15,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in shares of Revolve Group in the third quarter worth about $171,000. Creative Planning grew its stake in Revolve Group by 4.6% in the 3rd quarter. Creative Planning now owns 136,225 shares of the company’s stock valued at $3,376,000 after buying an additional 6,018 shares in the last quarter. SG Americas Securities LLC bought a new stake in Revolve Group during the 3rd quarter valued at $827,000. Cubist Systematic Strategies LLC lifted its position in shares of Revolve Group by 12.1% during the second quarter. Cubist Systematic Strategies LLC now owns 154,077 shares of the company’s stock worth $2,451,000 after acquiring an additional 16,680 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Revolve Group in the second quarter worth $68,000. 67.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RVLV. Morgan Stanley reissued an “equal weight” rating and set a $26.00 price objective (up previously from $17.00) on shares of Revolve Group in a report on Monday, October 21st. UBS Group upped their target price on shares of Revolve Group from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Piper Sandler reissued an “overweight” rating and issued a $30.00 price target on shares of Revolve Group in a report on Friday, August 23rd. BTIG Research boosted their price target on shares of Revolve Group from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, TD Cowen increased their price objective on Revolve Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.25.

Insider Buying and Selling

In other Revolve Group news, CEO Michael Mente sold 48,346 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $26.32, for a total value of $1,272,466.72. Following the completion of the sale, the chief executive officer now owns 73,000 shares in the company, valued at approximately $1,921,360. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Mente sold 48,346 shares of the business’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $26.32, for a total value of $1,272,466.72. Following the transaction, the chief executive officer now owns 73,000 shares in the company, valued at approximately $1,921,360. This 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 worth $3,260,634 in the last ninety days. 46.56% of the stock is owned by insiders.

Revolve Group Stock Performance

Shares of Revolve Group stock opened at $24.87 on Friday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 73.15, a price-to-earnings-growth ratio of 2.47 and a beta of 2.05. The company has a fifty day moving average of $24.23 and a 200-day moving average of $20.69. Revolve Group, Inc. has a 52-week low of $12.42 and a 52-week high of $26.72.

Revolve Group (NYSE:RVLV) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Revolve Group had a return on equity of 8.35% and a net margin of 3.08%. The firm had revenue of $282.50 million for the quarter, compared to analysts’ expectations of $277.06 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Revolve Group, Inc. will post 0.55 earnings per share for the current fiscal 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.