Pattern Group Inc. (NASDAQ:PTRN) Receives Average Rating of “Buy” from Brokerages

Pattern Group Inc. (NASDAQ:PTRN) has received an average rating of “Buy” from the twelve research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $20.7778.

Several analysts have recently commented on PTRN shares. JPMorgan Chase & Co. raised their price objective on shares of Pattern Group from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Jefferies Financial Group initiated coverage on Pattern Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $18.00 price target for the company. Wall Street Zen upgraded Pattern Group to a “hold” rating in a research report on Saturday, October 11th. Zacks Research raised Pattern Group to a “hold” rating in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group initiated coverage on Pattern Group in a research note on Tuesday, October 14th. They set a “buy” rating and a $17.00 target price on the stock.

Insider Activity at Pattern Group

In other news, CEO David K. Wright sold 9,414,286 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $13.02, for a total value of $122,574,003.72. Following the transaction, the chief executive officer owned 29,418,585 shares of the company’s stock, valued at approximately $383,029,976.70. The trade was a 24.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Gay sold 1,300,000 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $13.02, for a total transaction of $16,926,000.00. Following the transaction, the director owned 829,475 shares of the company’s stock, valued at approximately $10,799,764.50. This represents a 61.05% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On Pattern Group

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new stake in shares of Pattern Group in the third quarter worth about $89,000. Susquehanna International Group LLP bought a new stake in Pattern Group in the 3rd quarter worth approximately $137,000. SG Americas Securities LLC purchased a new stake in shares of Pattern Group during the 3rd quarter worth approximately $168,000. Greenland Capital Management LP purchased a new stake in shares of Pattern Group during the 3rd quarter worth approximately $174,000. Finally, Prelude Capital Management LLC bought a new position in shares of Pattern Group during the 3rd quarter valued at approximately $228,000.

Pattern Group Stock Down 0.3%

Shares of NASDAQ:PTRN opened at $13.31 on Wednesday. The company’s 50 day moving average is $15.41. Pattern Group has a 12-month low of $12.00 and a 12-month high of $20.10.

Pattern Group (NASDAQ:PTRN) last released its earnings results on Wednesday, November 5th. The company reported ($2.19) EPS for the quarter, topping analysts’ consensus estimates of ($2.71) by $0.52. The firm had revenue of $639.66 million for the quarter, compared to the consensus estimate of $570.78 million.

Pattern Group Company Profile

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.