Ann Mather Sells 5,301 Shares of Pattern Group (NASDAQ:PTRN) Stock

Pattern Group Inc. (NASDAQ:PTRN) Director Ann Mather sold 5,301 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $16.51, for a total transaction of $87,519.51. Following the completion of the sale, the director directly owned 31,509 shares in the company, valued at approximately $520,213.59. This represents a 14.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Pattern Group Trading Up 0.1%

Pattern Group stock opened at $17.58 on Wednesday. The company has a fifty day simple moving average of $13.31 and a 200-day simple moving average of $13.40. The stock has a market cap of $2.73 billion and a P/E ratio of -9.40. Pattern Group Inc. has a 12-month low of $8.92 and a 12-month high of $20.10.

Pattern Group (NASDAQ:PTRN) last posted its earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. The business had revenue of $773.73 million during the quarter, compared to analysts’ expectations of $715.90 million. During the same period last year, the company earned $0.17 EPS. The business’s quarterly revenue was up 43.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Pattern Group Inc. will post 0.56 earnings per share for the current fiscal year.

Pattern Group declared that its board has initiated a stock buyback program on Thursday, March 5th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 5.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PTRN. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a research report on Monday, March 23rd. Robert W. Baird dropped their price target on shares of Pattern Group from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. boosted their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus lowered their target price on shares of Pattern Group from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, March 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Pattern Group presently has an average rating of “Moderate Buy” and an average target price of $20.67.

Institutional Trading of Pattern Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Clearstead Advisors LLC boosted its position in shares of Pattern Group by 222.0% in the 4th 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 Pattern Group in the first quarter valued at approximately $40,000. Barclays PLC lifted its stake in Pattern Group by 25.2% in the fourth quarter. Barclays PLC now owns 16,652 shares of the company’s stock valued at $192,000 after buying an additional 3,352 shares during the last quarter. Federation des caisses Desjardins du Quebec acquired a new stake in shares of Pattern Group in the fourth quarter valued at approximately $58,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Pattern Group in the third quarter valued at approximately $89,000.

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.