Pattern Group (NASDAQ:PTRN) Stock Price Down 5.3% – Should You Sell?

Shares of Pattern Group Inc. (NASDAQ:PTRN) traded down 5.3% during trading on Tuesday . The stock traded as low as $11.73 and last traded at $11.73. 476,771 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 979,621 shares. The stock had previously closed at $12.38.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PTRN. The Goldman Sachs Group initiated coverage on Pattern Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $17.00 target price on the stock. Robert W. Baird raised their price target on shares of Pattern Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted 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. Zacks Research upgraded shares of Pattern Group to a “hold” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a report on Wednesday, December 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Pattern Group Stock Down 5.4%

The stock’s 50-day moving average is $14.79. The firm has a market capitalization of $1.81 billion and a PE ratio of -5.35.

Pattern Group (NASDAQ:PTRN) last posted its earnings results on Wednesday, November 5th. The company reported ($2.19) earnings per share for the quarter, beating the consensus estimate of ($2.71) by $0.52. The business had revenue of $639.66 million for the quarter, compared to analyst estimates of $570.78 million.

Institutional Trading of Pattern Group

A number of hedge funds have recently made changes to their positions in the company. Capital World Investors purchased a new position in shares of Pattern Group in the third quarter valued at $23,975,000. Vanguard Group Inc. acquired a new position in Pattern Group in the 3rd quarter worth $20,640,000. Woodline Partners LP purchased a new position in Pattern Group in the 3rd quarter valued at about $19,678,000. Alyeska Investment Group L.P. acquired a new stake in shares of Pattern Group during the third quarter valued at about $15,755,000. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Pattern Group during the third quarter worth about $15,562,000.

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.