Fmr LLC Has $141.36 Million Holdings in Revolve Group, Inc. (NYSE:RVLV)

Fmr LLC decreased its holdings in shares of Revolve Group, Inc. (NYSE:RVLV) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,704,457 shares of the company’s stock after selling 28,600 shares during the quarter. Fmr LLC owned approximately 8.08% of Revolve Group worth $141,356,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in RVLV. Charles Schwab Investment Management Inc. boosted its stake in shares of Revolve Group by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 315,213 shares of the company’s stock worth $7,811,000 after buying an additional 2,963 shares during the last quarter. Navellier & Associates Inc. acquired a new position in Revolve Group during the third quarter valued at approximately $612,000. Intech Investment Management LLC acquired a new position in Revolve Group during the third quarter valued at approximately $241,000. LMR Partners LLP bought a new position in Revolve Group in the third quarter valued at approximately $228,000. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Revolve Group during the 3rd quarter worth approximately $1,509,000. Institutional investors own 67.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RVLV. BTIG Research raised their target price on shares of Revolve Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. UBS Group lifted their price objective on shares of Revolve Group from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wedbush restated a “neutral” rating and set a $19.00 price objective on shares of Revolve Group in a research note on Wednesday, August 7th. TD Cowen raised their target price on shares of Revolve Group from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler boosted their price target on Revolve Group from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. One investment analyst has 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 an average rating of “Hold” and a consensus target price of $26.19.

Revolve Group Stock Performance

NYSE:RVLV opened at $35.50 on Wednesday. Revolve Group, Inc. has a 52 week low of $13.76 and a 52 week high of $39.03. The firm’s 50-day simple moving average is $28.76 and its 200 day simple moving average is $22.87. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 63.45, a P/E/G ratio of 2.29 and a beta of 2.19.

Revolve Group (NYSE:RVLV) last announced its earnings results on Tuesday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $283.15 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $0.04 earnings per share. Sell-side analysts anticipate that Revolve Group, Inc. will post 0.6 EPS for the current year.

Insider Buying and Selling at Revolve Group

In other Revolve Group news, CFO Jesse Timmermans sold 91,625 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 3,054 shares in the company, valued at $93,818.88. This represents a 96.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Mente sold 36,114 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $25.95, for a total value of $937,158.30. Following the completion of the sale, the chief executive officer now directly owns 73,000 shares in the company, valued at approximately $1,894,350. This represents a 33.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 581,817 shares of company stock valued at $17,870,621 in the last three months. Corporate insiders own 46.56% of the company’s stock.

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.