Teacher Retirement System of Texas Takes $2.74 Million Position in Pattern Group Inc. $PTRN

Teacher Retirement System of Texas acquired a new stake in shares of Pattern Group Inc. (NASDAQ:PTRN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 200,000 shares of the company’s stock, valued at approximately $2,740,000. Teacher Retirement System of Texas owned approximately 0.11% of Pattern Group as of its most recent SEC filing.

Separately, Steadview Capital Management LLC acquired a new position in Pattern Group during the 3rd quarter valued at about $5,480,000.

Pattern Group Stock Up 2.2%

Shares of Pattern Group stock opened at $15.96 on Friday. Pattern Group Inc. has a 12-month low of $11.21 and a 12-month high of $20.10. The firm has a market capitalization of $2.47 billion and a price-to-earnings ratio of -7.29. The stock’s fifty day moving average is $13.38.

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

Analyst Ratings Changes

Several research firms have recently issued reports on PTRN. Stifel Nicolaus set a $22.00 price objective on shares of Pattern Group in a report on Thursday, November 6th. Zacks Research raised Pattern Group to a “hold” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Pattern Group in a research note on Wednesday, December 24th. Wall Street Zen upgraded Pattern Group to a “hold” rating in a report on Saturday, October 11th. Finally, KeyCorp lifted their target price on Pattern Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Pattern Group 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.