Revolve Group (NYSE:RVLV) Shares Down 5.3% Following Analyst Downgrade

Shares of Revolve Group, Inc. (NYSE:RVLV) dropped 5.3% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $35.00 to $22.00. Piper Sandler currently has an overweight rating on the stock. Revolve Group traded as low as $19.14 and last traded at $19.01. Approximately 79,612 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,085,711 shares. The stock had previously closed at $20.08.

Several other equities research analysts also recently commented on the stock. KeyCorp raised shares of Revolve Group from a “sector weight” rating to an “overweight” rating and set a $37.00 target price for the company in a research report on Thursday, January 23rd. Jefferies Financial Group upgraded Revolve Group from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Friday, March 14th. BMO Capital Markets upped their price objective 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. Roth Mkm reiterated a “buy” rating and set a $36.00 target price (up previously from $35.00) on shares of Revolve Group in a research report on Wednesday, February 26th. Finally, Barclays lifted their price target on Revolve Group from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Revolve Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.87.

Insiders Place Their Bets

In other Revolve Group news, CEO Michael Mente sold 67,118 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $30.91, for a total transaction of $2,074,617.38. Following the completion of the transaction, the chief executive officer now owns 73,000 shares in the company, valued at $2,256,430. The trade was a 47.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Karanikolas sold 12,566 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $25.94, for a total transaction of $325,962.04. Following the completion of the transaction, the chief executive officer now owns 123,000 shares in the company, valued at approximately $3,190,620. The trade was a 9.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,781 shares of company stock worth $7,793,755. Corporate insiders own 46.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC acquired a new stake in Revolve Group in the 3rd quarter worth approximately $250,000. Barclays PLC raised its holdings in Revolve Group by 156.7% in the 3rd quarter. Barclays PLC now owns 85,613 shares of the company’s stock worth $2,122,000 after purchasing an additional 52,257 shares during the period. Franklin Resources Inc. lifted its position in shares of Revolve Group by 6.9% during the 3rd quarter. Franklin Resources Inc. now owns 27,195 shares of the company’s stock valued at $699,000 after buying an additional 1,753 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Revolve Group by 83.4% in the third quarter. JPMorgan Chase & Co. now owns 349,670 shares of the company’s stock valued at $8,665,000 after purchasing an additional 158,960 shares during the period. Finally, Sugar Maple Asset Management LLC purchased a new stake in Revolve Group during the 4th quarter worth approximately $50,000. 67.60% of the stock is currently owned by institutional investors.

Revolve Group Stock Performance

The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 1.48 and a beta of 2.10. The company has a 50 day moving average of $24.81 and a 200 day moving average of $28.77.

Revolve Group Company 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.