Refo SCSp sold $2.1M of REF

William Blair initiated coverage on Reformation Inc (NYSE:REF) with an outperform rating, citing its competitive advantages and 62% gross profit margin. The firm values shares at 16.5x 2028 EPS, but notes current P/E of 133 suggests overvaluation. Projections include 40% annualized earnings growth over five years. Other firms like JPMorgan, Morgan Stanley, RBC, and Baird have also initiated coverage with varying ratings and price targets.

JPMorgan initiated coverage on Reformation Inc (NYSE:REF) with an overweight rating and $21.00 price target, citing 45% upside potential. The stock is near its 52-week low after a 9.5% weekly decline. Analysts highlight durable revenue growth drivers, high gross margins, and a strong direct-to-consumer model. Reformation completed its IPO at $15 per share, with strong demand and multiple analyst ratings.

Refo SCSp sold 2,987,199 shares of Reformation Inc. (REF) at $13.95 ($41.67M total) on 2026-07-31.

Aflalo Yael sold 1,204,029 indirectly-held shares of Reformation Inc. (REF) at $13.95 ($16.80M total) on 2026-07-29.

Reformation Inc. priced its IPO of 14,062,500 shares at $15.00 per share. The company offered 9,478,821 shares and selling stockholders offered 4,583,679 shares, with an underwriters’ option for up to 2,109,375 additional shares. Shares are set to start trading on NYSE on July 30, 2026 under ticker REF.

Reformation Inc. priced its IPO at $15.00 per share, selling 9,478,821 shares out of 14,062,500 total. Existing holders sold 4,583,679 shares and granted underwriters a 30-day option for up to 2,109,375 more at the IPO price. The stock will trade on NYSE as REF starting July 30, 2026. J.P. Morgan and Morgan Stanley are joint leads.