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CERRITOS, CA—Michael Karanikolas, Co-Chief Executive Officer of Revolve Group , Inc. (NYSE:RVLV), executed a series of stock transactions involving the company's Class A common stock. According to a recent SEC filing, Karanikolas sold shares totaling approximately $6.23 million over several days. The transactions come as RVLV shares have shown significant momentum, with an impressive 81.66% return over the past year, according to InvestingPro data.
On February 12, Karanikolas sold 18,233 shares at an average price of $29.38, followed by the sale of 47,489 shares at an average price of $30.38. The next day, February 13, he sold 52,893 shares at an average price of $31.53 and an additional 16,028 shares at $31.88.
The sales continued on February 14, with 67,057 shares sold at an average price of $30.91, and a final transaction of 61 shares at $31.54. These transactions were conducted under a Rule 10b5-1 trading plan adopted by MMMK Development, Inc., where Karanikolas holds a stake and shares voting and dispositive power.
The transactions reflect a strategic move by Karanikolas, who remains a significant stakeholder in the company. Despite the insider selling, RVLV maintains strong financial health with a current ratio of 2.71, indicating solid liquidity position.
In other recent news, Revolve Group has been the subject of various analyst ratings. KeyBanc Capital Markets upgraded Revolve from a Sector Weight to an Overweight rating, setting a price target of $37.00. This shift in stance was due to increased confidence in the company's prospects, with clear visibility on previous top-line pressures, inventory rightsizing, and high return rates.
In contrast, Stifel maintained a Buy rating on Revolve, with a price target of $41.00. Stifel's analysts anticipate a top and bottom line beat in the company's fourth-quarter results, with an increased revenue estimate of $286.1 million and adjusted EBITDA of $10.7 million. The firm credits this to stronger consumer engagement and internal efforts to improve product returns and manage expenses.
Meanwhile, KeyBanc reiterated its Sector Weight rating for Revolve post Black Friday, observing an increase in promotional activity on the company's platform. The firm noted that around 61% of items were discounted as of early December, slightly down from the mid-October peak but up from the previous year.
These recent developments indicate a positive outlook for Revolve Group's financial health and market position, with analysts from both KeyBanc and Stifel expressing confidence in the company's growth trajectory and improved profitability.
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