Pattern Group (NASDAQ:PTRN) Reaches New 12-Month High – Here’s What Happened

Pattern Group Inc. (NASDAQ:PTRN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $27.15 and last traded at $27.6150, with a volume of 91637 shares traded. The stock had previously closed at $26.43.

Analyst Ratings Changes

A number of analysts have issued reports on PTRN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research note on Thursday, June 18th. The Goldman Sachs Group restated a “buy” rating and set a $27.00 price objective on shares of Pattern Group in a research report on Monday, June 29th. Needham & Company LLC boosted their target price on shares of Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their price target on shares of Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.78.

Pattern Group Stock Performance

The stock’s 50-day moving average is $19.58 and its two-hundred day moving average is $14.91. The stock has a market cap of $4.39 billion and a PE ratio of -15.13.

Pattern Group (NASDAQ:PTRN) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The firm had revenue of $773.73 million for the quarter, compared to analyst estimates of $715.90 million. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis. Analysts forecast that Pattern Group Inc. will post 0.56 EPS for the current year.

Insider Transactions at Pattern Group

In other news, Director Ann Mather sold 5,301 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $16.51, for a total transaction of $87,519.51. Following the sale, the director owned 31,509 shares of the company’s stock, valued at approximately $520,213.59. This represents a 14.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 70.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pattern Group

Institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC boosted its holdings in Pattern Group by 222.0% in the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock valued at $27,000 after purchasing an additional 1,636 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Pattern Group during the first quarter worth approximately $40,000. Federation des caisses Desjardins du Quebec acquired a new stake in Pattern Group in the fourth quarter valued at approximately $58,000. FNY Investment Advisers LLC purchased a new position in Pattern Group in the third quarter worth approximately $137,000. Finally, Susquehanna International Group LLP acquired a new position in Pattern Group during the 3rd quarter worth approximately $137,000.

About Pattern Group

At Pattern, we are on a mission to help brands accelerate profitable growth on global ecommerce marketplaces. Today, our proprietary technology and on-demand experts operate across more than 60 marketplaces to increase product sales to consumers in more than 100 countries. Utilizing more than 46 trillion data points and sophisticated machine learning and artificial intelligence (“AI”) models, we strive to optimize and automate key levers of ecommerce growth, including advertising, content creation and management, pricing, forecasting and customer service.