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

Reformation Inc. (NYSE:REF) shares gapped down prior to trading 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 trading hands.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on REF shares. Guggenheim began coverage on shares of Reformation in a research note on Monday, August 24th. They issued a “buy” rating and a $20.00 target price for the company. JPMorgan Chase & Co. began coverage on Reformation in a research report on Monday, August 24th. They set an “overweight” rating and a $21.00 price target for the company. Royal Bank Of Canada assumed coverage on shares of Reformation in a research note on Monday, August 24th. They set an “outperform” rating and a $18.00 price objective on the stock. William Blair assumed coverage on shares of Reformation in a research note on Monday, August 24th. They issued an “outperform” rating for the company. Finally, BTIG Research began coverage on Reformation in a report on Monday, August 24th. They set a “buy” rating and a $20.00 price target for the company. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Reformation has an average rating of “Moderate Buy” and an average price target of $19.25.

Reformation Price Performance

Reformation Company Profile

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