Michael Karanikolas, Co-Chief Executive Officer of Revolve Group, Inc. (NYSE:RVLV), sold a total of 138,901 shares of Class A Common Stock during the three trading days from January 26 to January 28, 2026. The sales were executed by MMMK Development, Inc. and produced proceeds of approximately $4,039,936, with trade prices spanning from $28.57 to $29.76, a range that sits close to the stock’s then-current trading level of $28.55.
The sales were reported as multiple transactions across the three days. On January 26, 2026, 32,709 shares were sold at a weighted average price of $29.76. The following day, January 27, 56,419 shares were sold at a weighted average price of $29.09. On January 28, 49,882 shares changed hands in two tranches, with weighted average prices of $28.57 and $29.36 respectively.
On those same dates Mr. Karanikolas converted 138,901 shares of Class B Common Stock into Class A Common Stock, matching exactly the number of Class A shares that were sold over the three-day period.
After completing these transactions, Karanikolas, through MMMK Development, Inc., continues to hold 30,141,412 shares of Class B Common Stock and directly owns 123,000 shares of Class A Common Stock.
Market-data referenced in the filings shows that RVLV has delivered a robust 36.6% price return over the past six months, though the company’s shares remain characterized by volatility. InvestingPro assigns Revolve Group a "GOOD" financial health score and treats the company, with a market capitalization of $2.03 billion, as slightly undervalued under its proprietary Fair Value model.
The insider sales come at a time of ongoing company activity: Revolve Group opened a new flagship store at The Grove shopping center in Los Angeles. The two-story, 8,450-square-foot location carries merchandise from both the REVOLVE and FWRD brands and represents the company’s latest expansion of its physical retail footprint.
Several investment firms maintain positive stances on the stock even as near-term results have been mixed. KeyBanc kept an Overweight rating and a $25 price target, pointing out that while revenue came in slightly below expectations, the company achieved notable gross margin expansion and beat forecasts for EBITDA and earnings per share. Jefferies raised its price target to $34, citing the company’s AI-driven technology stack as a contributor to improving performance. Stifel increased its price target to $33, noting that lifestyle brands could produce selective opportunities despite macroeconomic headwinds. BTIG reiterated a Buy rating with a $30 price target after a management meeting that provided updates on performance and strategy.
Summary
Between January 26 and January 28, 2026, Revolve Group Co-CEO Michael Karanikolas sold 138,901 Class A shares via MMMK Development, Inc., generating about $4.04 million in proceeds. Those sales coincided with a conversion of an identical number of Class B shares into Class A shares. Following the actions, Karanikolas retains 30,141,412 Class B shares and 123,000 Class A shares. The company has also expanded its retail presence with a new 8,450-square-foot flagship store at The Grove in Los Angeles. Analysts have retained generally positive ratings, adjusting price targets in light of margin and earnings results.
Key points
- Insider activity: 138,901 Class A shares sold by Karanikolas from January 26-28, 2026, via MMMK Development, Inc., raising roughly $4,039,936.
- Share structure movement: On the same dates, an equivalent number of Class B shares (138,901) were converted into Class A shares.
- Corporate developments and market view: Revolve opened a two-story, 8,450-square-foot flagship at The Grove in Los Angeles; multiple brokerages have maintained or raised price targets while noting mixed revenue and improved margins.
Risks and uncertainties
- Revenue headwinds: KeyBanc noted revenue was slightly below expectations, a point that may affect near-term investor sentiment - impacting the retail and consumer discretionary sectors.
- Share volatility: The stock has exhibited characteristic volatility, which can create uncertainty for investors in the retail-equity and broader consumer sectors.
- Macroeconomic pressure: Stifel referenced macroeconomic challenges that could limit opportunities for lifestyle brands, presenting risk to retail and apparel market performance.
The information above is drawn from regulatory filings and investor commentary made public in connection with the transactions and company updates.