Allspring Global Investments Holdings LLC Sells 162,063 Shares of Revolve Group, Inc. (NYSE:RVLV)

Allspring Global Investments Holdings LLC lowered its stake in Revolve Group, Inc. (NYSE:RVLV) by 20.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 639,176 shares of the company’s stock after selling 162,063 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.90% of Revolve Group worth $15,839,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RVLV. Westfield Capital Management Co. LP bought a new stake in Revolve Group during the 1st quarter worth $33,735,000. Dimensional Fund Advisors LP grew its holdings in shares of Revolve Group by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company’s stock worth $10,867,000 after purchasing an additional 123,745 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Revolve Group by 141.2% in the second quarter. Marshall Wace LLP now owns 478,623 shares of the company’s stock valued at $7,615,000 after buying an additional 280,151 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Revolve Group by 55.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 376,620 shares of the company’s stock valued at $7,973,000 after buying an additional 134,775 shares during the last quarter. Finally, Norden Group LLC boosted its position in Revolve Group by 2,269.6% during the 1st quarter. Norden Group LLC now owns 367,200 shares of the company’s stock worth $7,774,000 after buying an additional 351,704 shares during the period. 67.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on RVLV shares. Robert W. Baird raised their price target on shares of Revolve Group from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. UBS Group raised their target price on Revolve Group from $21.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 price target (up previously from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. Piper Sandler restated an “overweight” rating and set a $30.00 price objective on shares of Revolve Group in a research report on Friday, August 23rd. Finally, Barclays upped their target price on Revolve Group from $15.00 to $17.00 and gave the company an “underweight” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.25.

Revolve Group Trading Up 0.5 %

RVLV opened at $24.87 on Friday. The company has a fifty day moving average price of $24.23 and a two-hundred day moving average price of $20.69. The company has a market cap of $1.76 billion, a P/E ratio of 73.15, a price-to-earnings-growth ratio of 2.47 and a beta of 2.05. Revolve Group, Inc. has a 1-year low of $12.42 and a 1-year high of $26.72.

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

Insider Activity

In other Revolve Group news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $25.92, for a total value of $168,298.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Mente sold 36,114 shares of Revolve Group stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $25.95, for a total transaction of $937,158.30. Following the sale, the chief executive officer now directly owns 73,000 shares in the company, valued at $1,894,350. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Mmmk Development, Inc. sold 6,493 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.92, for a total transaction of $168,298.56. The disclosure for this sale can be found here. Insiders sold a total of 124,573 shares of company stock worth $3,260,634 over the last quarter. 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.