Essex Investment Management Co. LLC Reduces Stock Position in Revolve Group, Inc. (NYSE:RVLV)

Essex Investment Management Co. LLC lowered its stake in shares of Revolve Group, Inc. (NYSE:RVLV) by 13.0% during the 4th quarter, HoldingsChannel reports. The fund owned 114,360 shares of the company’s stock after selling 17,103 shares during the period. Essex Investment Management Co. LLC’s holdings in Revolve Group were worth $3,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. AlphaQuest LLC increased its holdings in shares of Revolve Group by 7.7% in the fourth quarter. AlphaQuest LLC now owns 5,535 shares of the company’s stock worth $185,000 after purchasing an additional 396 shares during the period. Lisanti Capital Growth LLC increased its holdings in shares of Revolve Group by 9.8% in the fourth quarter. Lisanti Capital Growth LLC now owns 100,875 shares of the company’s stock worth $3,378,000 after purchasing an additional 9,030 shares during the period. Raymond James Financial Inc. bought a new position in shares of Revolve Group in the fourth quarter worth $333,000. Cookson Peirce & Co. Inc. bought a new position in shares of Revolve Group in the fourth quarter worth $595,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Revolve Group in the fourth quarter worth $218,000. Hedge funds and other institutional investors own 67.60% of the company’s stock.

Revolve Group Stock Up 4.5 %

NYSE RVLV opened at $24.05 on Friday. The company has a 50-day simple moving average of $29.89 and a two-hundred day simple moving average of $29.14. Revolve Group, Inc. has a 12-month low of $14.87 and a 12-month high of $39.58. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 42.94, a PEG ratio of 1.48 and a beta of 2.25.

Analysts Set New Price Targets

RVLV has been the topic of several research analyst reports. Barclays upped their price target on shares of Revolve Group from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Roth Mkm reaffirmed a “buy” rating and issued a $36.00 price target (up previously from $35.00) on shares of Revolve Group in a report on Wednesday, February 26th. Stifel Nicolaus decreased their price target on shares of Revolve Group from $41.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. KeyCorp raised Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a research note on Thursday, January 23rd. Finally, BMO Capital Markets increased their target price on Revolve Group from $15.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.57.

Insider Buying and Selling at Revolve Group

In other news, CEO Michael Karanikolas sold 12,566 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $25.94, for a total transaction of $325,962.04. Following the completion of the sale, the chief executive officer now directly owns 123,000 shares in the company, valued at approximately $3,190,620. This represents a 9.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Mente sold 62,441 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $34.20, for a total transaction of $2,135,482.20. Following the sale, the chief executive officer now owns 73,000 shares of the company’s stock, valued at approximately $2,496,600. This represents a 46.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 511,649 shares of company stock worth $16,027,128 over the last three months. Company insiders own 46.56% of the company’s stock.

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.