Envestnet Asset Management Inc. Sells 556 Shares of Revolve Group, Inc. (NYSE:RVLV)

Envestnet Asset Management Inc. lowered its position in shares of Revolve Group, Inc. (NYSE:RVLV) by 0.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 290,347 shares of the company’s stock after selling 556 shares during the period. Envestnet Asset Management Inc.’s holdings in Revolve Group were worth $9,724,000 as of its most recent filing with the SEC.

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

Revolve Group Trading Up 0.0 %

RVLV opened at $19.67 on Friday. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 1.48 and a beta of 2.10. The stock has a fifty day simple moving average of $23.79 and a two-hundred day simple moving average of $28.57. Revolve Group, Inc. has a 12-month low of $14.87 and a 12-month high of $39.58.

Insider Buying and Selling

In other Revolve Group news, CEO Michael Mente sold 44,962 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $30.93, for a total value of $1,390,674.66. Following the sale, the chief executive officer now directly owns 73,000 shares of the company’s stock, valued at approximately $2,257,890. The trade was a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Karanikolas sold 12,566 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $25.94, for a total value of $325,962.04. Following the transaction, the chief executive officer now owns 123,000 shares of the company’s stock, valued at $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. Insiders sold a total of 256,781 shares of company stock worth $7,793,755 in the last three months. 46.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler reduced their price objective on Revolve Group from $35.00 to $22.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Jefferies Financial Group raised shares of Revolve Group from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, March 14th. Morgan Stanley cut their price objective on Revolve Group from $29.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday. Barclays raised 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. Finally, Stifel Nicolaus lowered their price objective on shares of Revolve Group from $40.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.53.

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.