PNC Financial Services Group Inc. Reduces Holdings in Revolve Group, Inc. (NYSE:RVLV)

PNC Financial Services Group Inc. cut its stake in shares of Revolve Group, Inc. (NYSE:RVLV) by 20.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,248 shares of the company’s stock after selling 2,570 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Revolve Group were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of RVLV. Polar Asset Management Partners Inc. purchased a new stake in Revolve Group in the 3rd quarter worth approximately $3,982,000. JPMorgan Chase & Co. lifted its holdings in Revolve Group by 83.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 349,670 shares of the company’s stock worth $8,665,000 after buying an additional 158,960 shares during the period. Principal Financial Group Inc. purchased a new stake in Revolve Group in the 4th quarter worth approximately $3,250,000. Maverick Capital Ltd. purchased a new stake in Revolve Group in the 3rd quarter worth approximately $2,165,000. Finally, Thrivent Financial for Lutherans purchased a new stake in Revolve Group in the 3rd quarter worth approximately $1,509,000. 67.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BMO Capital Markets increased their price objective 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 increased their target price on Revolve Group from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Roth Mkm reissued a “buy” rating and issued a $36.00 target price (up previously from $35.00) on shares of Revolve Group in a research report on Wednesday, February 26th. Stifel Nicolaus decreased their target price on Revolve Group from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group raised Revolve Group from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Friday, March 14th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.53.

Insiders Place Their Bets

In other Revolve Group news, CEO Michael Mente sold 67,118 shares of Revolve Group stock in a transaction on Friday, February 14th. The stock was sold at an average price of $30.91, for a total value of $2,074,617.38. Following the completion of the sale, the chief executive officer now owns 73,000 shares of the company’s stock, valued at approximately $2,256,430. This trade represents a 47.90 % 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 Revolve Group stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 123,000 shares of the company’s stock, valued at approximately $3,190,620. The trade was a 9.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 372,373 shares of company stock valued at $11,268,499. Corporate insiders own 46.56% of the company’s stock.

Revolve Group Stock Up 0.9 %

RVLV stock opened at $22.14 on Friday. Revolve Group, Inc. has a twelve month low of $14.87 and a twelve month high of $39.58. The firm has a market cap of $1.58 billion, a PE ratio of 39.53, a price-to-earnings-growth ratio of 1.48 and a beta of 2.25. The business has a 50 day moving average of $28.02 and a 200 day moving average of $29.06.

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.