Reformation (NYSE:REF) Shares Gap Down on Insider Selling

Reformation Inc. (NYSE:REF)’s stock price gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $14.13, but opened at $13.41. Reformation shares last traded at $13.62, with a volume of 3,958 shares.

Specifically, major shareholder Scsp Refo sold 149,596 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $13.95, for a total transaction of $2,086,864.20. Following the transaction, the insider owned 28,942,153 shares in the company, valued at $403,743,034.35. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yael Aflalo sold 60,298 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $13.95, for a total value of $841,157.10. Following the sale, the director directly owned 11,665,505 shares in the company, valued at approximately $162,733,794.75. This trade represents a 0.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

REF has been the subject of several analyst reports. JPMorgan Chase & Co. began coverage on shares of Reformation in a research report on Monday, August 24th. They issued an “overweight” rating and a $21.00 target price for the company. Zacks Research raised shares of Reformation to a “hold” rating in a research note on Tuesday, August 25th. Royal Bank Of Canada initiated coverage on shares of Reformation in a research report on Monday, August 24th. They set an “outperform” rating and a $18.00 price objective for the company. William Blair initiated coverage on Reformation in a research note on Monday, August 24th. They set an “outperform” rating for the company. Finally, Guggenheim began coverage on Reformation in a report on Monday, August 24th. They issued a “buy” rating and a $20.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.25.

Reformation Stock Performance

About Reformation

Reformation Inc provide sustainable womenswear brand. Reformation Inc is based in LOS ANGELES.