Bank of America Corp DE Sells 248,743 Shares of Revolve Group, Inc. (NYSE:RVLV)

Bank of America Corp DE reduced its stake in shares of Revolve Group, Inc. (NYSE:RVLV - Free Report) by 27.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 643,093 shares of the company's stock after selling 248,743 shares during the quarter. Bank of America Corp DE owned 0.91% of Revolve Group worth $21,537,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its holdings in shares of Revolve Group by 1,302.1% in the fourth 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 last quarter. Sugar Maple Asset Management LLC bought a new stake in Revolve Group in the 4th quarter worth $50,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Revolve Group in the fourth quarter valued at about $87,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Revolve Group in the fourth quarter valued at about $117,000. Finally, AlphaQuest LLC raised its stake in shares of Revolve Group by 7.7% during the fourth quarter. AlphaQuest LLC now owns 5,535 shares of the company's stock valued at $185,000 after acquiring an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 67.60% of the company's stock.

Insider Activity

In related news, CEO Michael Karanikolas sold 12,566 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $25.94, for a total transaction of $325,962.04. Following the sale, the chief executive officer now directly owns 123,000 shares of the company's stock, valued at $3,190,620. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 43.82% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RVLV shares. BMO Capital Markets raised their target price on Revolve Group from $15.00 to $19.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 26th. Raymond James dropped their price objective on Revolve Group from $25.00 to $21.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Piper Sandler reduced their target price on Revolve Group from $35.00 to $22.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Stifel Nicolaus decreased their target price on Revolve Group from $40.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Jefferies Financial Group upgraded shares of Revolve Group from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Revolve Group presently has an average rating of "Hold" and an average target price of $26.07.

Revolve Group Stock Performance

Shares of RVLV opened at $20.74 on Tuesday. Revolve Group, Inc. has a fifty-two week low of $14.87 and a fifty-two week high of $39.58. The firm's 50-day simple moving average is $20.52 and its two-hundred day simple moving average is $27.81. The stock has a market cap of $1.48 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.48 and a beta of 2.10.

Revolve Group (NYSE:RVLV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $296.71 million for the quarter, compared to the consensus estimate of $297.56 million. Revolve Group had a return on equity of 10.17% and a net margin of 3.72%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS. Equities research analysts predict that Revolve Group, Inc. will post 0.6 EPS for the current year.

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.

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