Michael Karanikolas, Co-Chief Executive Officer of Revolve Group , Inc. (NYSE:RVLV), a $2.08 billion market cap company currently trading at $29.30, recently executed a series of stock transactions, according to the latest SEC filings. InvestingPro analysis indicates the stock is currently overvalued. On January 7th, he sold 76,933 shares of Class A common stock at a weighted-average price of $30.46. Additionally, he sold another 1,272 shares at a weighted-average price of $31.24. The following day, January 8th, Karanikolas sold 43,633 shares at a weighted-average price of $30.48 and 2,354 shares at $30.83. On January 10th, he sold 49,814 shares at $29.53 and 19,791 shares at $30.37. These transactions were executed under a Rule 10b5-1 trading plan adopted by MMMK Development, Inc., a company in which Karanikolas holds shared voting and dispositive power. The total value of these sales amounted to approximately $5.86 million. The stock has experienced significant volatility recently, with a 13.19% decline over the past week and trading between $13.96 and $39.58 over the past 52 weeks. For deeper insights into RVLV’s valuation and 16 additional key metrics, visit InvestingPro.
In other recent news, Revolve Group Inc. demonstrated a robust performance in Q3 2024, with net sales increasing 10% year-over-year to reach $283 million. The company’s net income also saw a significant increase, reaching $11 million, or $0.15 per diluted share, a notable rise from the $3 million reported in the same quarter of the previous year. Adjusted EBITDA also grew by 85% to reach $18 million. KeyBanc has reiterated its Sector Weight rating for Revolve, observing an increase in promotional activity following Black Friday. Approximately 61% of items on the Revolve platform are discounted as of December 2, 2024, slightly down from the mid-October peak of about 62% but up from around 57% at the same time in the previous year. Despite the deep markdowns, the total SKU count on Revolve’s website has grown by approximately 9% year-to-date. Looking forward, the company plans to open a Revolve Holiday Shop and a flagship store by mid-2025. Although inventory levels are currently higher than desired, alignment with sales growth is expected by Q4. Lastly, despite a projected slight decline in Q4 gross margin due to markdowns and freight costs, the company’s management remains optimistic about Revolve’s trajectory.
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