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

Revolve Group, Inc. (NYSE:RVLV - Get Free Report) dropped 5.3% 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 changed hands during trading, a decline of 93% from the average daily volume of 1,085,711 shares. The stock had previously closed at $20.08.

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A number of other brokerages have also commented on RVLV. Stifel Nicolaus cut their price target on Revolve Group from $40.00 to $28.00 and set a "buy" rating on the stock in a research note on Thursday. Roth Mkm reiterated a "buy" rating and set a $36.00 price target (up previously from $35.00) on shares of Revolve Group in a report on Wednesday, February 26th. Jefferies Financial Group raised Revolve Group from a "hold" rating to a "buy" rating and set a $30.00 price target for the company in a research note on Friday, March 14th. BMO Capital Markets upped their target price on Revolve Group from $15.00 to $19.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Finally, KeyCorp upgraded shares of Revolve Group from a "sector weight" rating to an "overweight" rating and set a $37.00 price target for the company in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Revolve Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.87.

Check Out Our Latest Analysis on Revolve Group

Insider Activity at Revolve Group

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In other Revolve Group news, CEO Michael Mente sold 44,962 shares of Revolve Group stock in a transaction on Monday, January 27th. The shares were sold at an average price of $30.93, for a total transaction of $1,390,674.66. Following the transaction, the chief executive officer now directly owns 73,000 shares of the company's stock, valued at $2,257,890. The trade was a 38.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owns 123,000 shares of the company's stock, valued at approximately $3,190,620. This represents a 9.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 256,781 shares of company stock valued at $7,793,755. 46.56% of the stock is owned by corporate insiders.

Institutional Trading of Revolve Group

A number of hedge funds have recently bought and sold shares of the business. Venturi Wealth Management LLC raised its stake in shares of Revolve Group by 1,302.1% during the 4th quarter. Venturi Wealth Management LLC now owns 1,346 shares of the company's stock worth $45,000 after purchasing an additional 1,250 shares during the period. Sugar Maple Asset Management LLC bought a new stake in Revolve Group in the fourth quarter worth about $50,000. Castlekeep Investment Advisors LLC purchased a new position in Revolve Group in the fourth quarter valued at about $65,000. Northwest & Ethical Investments L.P. purchased a new position in Revolve Group in the fourth quarter valued at about $87,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Revolve Group during the 4th quarter valued at approximately $117,000. 67.60% of the stock is currently owned by institutional investors.

Revolve Group Stock Performance

• Pent Up Demand Could Propel Revolve NYSE: RVLV in 2021

The company has a market cap of $1.34 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 1.48 and a beta of 2.10. The company's 50 day moving average price is $25.05 and its 200-day moving average price is $28.80.

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.

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