Essex Investment Management Co. LLC Acquires New Position in Revolve Group, Inc. (NYSE:RVLV)

Essex Investment Management Co. LLC acquired a new position in Revolve Group, Inc. (NYSE:RVLV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,301 shares of the company’s stock, valued at approximately $7,117,000. Revolve Group makes up 0.8% of Essex Investment Management Co. LLC’s portfolio, making the stock its 23rd largest holding. Essex Investment Management Co. LLC owned approximately 0.14% of Revolve Group as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Revolve Group by 255.4% in the second quarter. BlackRock Inc. now owns 2,411,514 shares of the company’s stock worth $166,154,000 after acquiring an additional 1,733,061 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Revolve Group by 6.0% in the first quarter. Penserra Capital Management LLC now owns 1,677,601 shares of the company’s stock worth $75,374,000 after acquiring an additional 94,245 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Revolve Group by 5.1% in the second quarter. Stephens Investment Management Group LLC now owns 1,365,936 shares of the company’s stock worth $94,113,000 after acquiring an additional 66,598 shares in the last quarter. Fiera Capital Corp increased its position in shares of Revolve Group by 71.2% in the first quarter. Fiera Capital Corp now owns 1,215,770 shares of the company’s stock worth $54,624,000 after acquiring an additional 505,460 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Revolve Group by 21.6% in the second quarter. Principal Financial Group Inc. now owns 1,209,066 shares of the company’s stock worth $83,305,000 after acquiring an additional 214,717 shares in the last quarter. 49.63% of the stock is owned by institutional investors.

Shares of NYSE:RVLV traded down $0.57 during midday trading on Monday, reaching $68.27. The company had a trading volume of 4,257 shares, compared to its average volume of 1,111,086. Revolve Group, Inc. has a 1-year low of $16.24 and a 1-year high of $74.82. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 54.69, a price-to-earnings-growth ratio of 3.11 and a beta of 2.62. The company has a fifty day simple moving average of $64.22 and a two-hundred day simple moving average of $57.99.

Revolve Group (NYSE:RVLV) last announced its quarterly earnings data on Wednesday, August 4th. The company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.21. Revolve Group had a return on equity of 39.45% and a net margin of 13.18%. The firm had revenue of $228.60 million during the quarter, compared to analyst estimates of $198.91 million. During the same period last year, the company posted $0.20 EPS. The business’s quarterly revenue was up 60.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Revolve Group, Inc. will post 1.05 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed a “buy” rating and set a $78.00 price target on shares of Revolve Group in a report on Monday, August 30th. B. Riley raised their price target on shares of Revolve Group from $58.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 29th. Jefferies Financial Group raised shares of Revolve Group from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $80.00 in a report on Monday, September 13th. MKM Partners increased their price objective on shares of Revolve Group from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, August 2nd. Finally, Cowen increased their price objective on shares of Revolve Group from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 5th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $66.33.

In related news, CEO Michael Mente sold 119,513 shares of the firm’s stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $64.45, for a total value of $7,702,612.85. Following the transaction, the chief executive officer now directly owns 500 shares of the company’s stock, valued at approximately $32,225. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Mmmk Development, Inc. sold 82,583 shares of the firm’s stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $67.03, for a total value of $5,535,538.49. Following the completion of the transaction, the insider now directly owns 43,690 shares in the company, valued at $2,928,540.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,384,688 shares of company stock valued at $89,051,678 over the last ninety days. Company insiders own 51.12% of the company’s stock.

About Revolve Group

Revolve Group, Inc engages in the retail of next-generation fashion for millennial and generation Z consumers. It operates through the Revolve, and Forward segments. The Revolve segment offers assortment of apparel and footwear, accessories and beauty products from emerging, established and owned brands.

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Institutional Ownership by Quarter for Revolve Group (NYSE:RVLV)

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