Reformation (NYSE:REF) Shares Down 6.7% – Here’s What Happened

Reformation Inc. (NYSE:REF)’s share price fell 6.7% during trading on Monday . The company traded as low as $13.98 and last traded at $14.00. 127,211 shares traded hands during trading, a decline of 73% from the average daily volume of 468,328 shares. The stock had previously closed at $15.00.

Wall Street Analysts Forecast Growth

Several analysts recently commented on REF shares. Zacks Research upgraded Reformation to a “hold” rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded shares of Reformation to a “hold” rating in a research report on Saturday, August 8th. Morgan Stanley initiated coverage on shares of Reformation in a research report on Monday, August 24th. They set an “equal weight” rating and a $16.00 price target on the stock. William Blair initiated coverage on shares of Reformation in a research note on Monday, August 24th. They issued an “outperform” rating on the stock. Finally, Robert W. Baird initiated coverage on Reformation in a report on Monday, August 24th. They issued an “outperform” rating and a $19.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.25.

Reformation Stock Down 4.0%

Insider Transactions at Reformation

In other Reformation news, major shareholder Scsp Refo sold 2,987,199 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $13.95, for a total transaction of $41,671,426.05. Following the sale, the insider directly owned 29,091,749 shares in the company, valued at $405,829,898.55. This represents a 9.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yael Aflalo sold 1,204,029 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $13.95, for a total transaction of $16,796,204.55. Following the sale, the director directly owned 11,725,803 shares in the company, valued at approximately $163,574,951.85. The trade was a 9.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Reformation Company Profile

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