Pattern Group (NASDAQ:PTRN) Director Sells $87,519.51 in Stock

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

Pattern Group Trading Up 6.4%

Shares of Pattern Group stock traded up $1.06 on Monday, hitting $17.57. 2,723,974 shares of the company’s stock were exchanged, compared to its average volume of 1,165,173. The company has a 50-day simple moving average of $13.18 and a 200-day simple moving average of $13.39. Pattern Group Inc. has a 1 year low of $8.92 and a 1 year high of $20.10.

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

Pattern Group declared that its board has authorized a share repurchase plan on Thursday, March 5th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 5.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Pattern Group

Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new stake in shares of Pattern Group in the 3rd quarter worth approximately $2,740,000. Capelight Capital Asset Management LP acquired a new position in Pattern Group during the 4th quarter valued at approximately $923,000. Hudson Bay Capital Management LP acquired a new position in Pattern Group during the 3rd quarter valued at approximately $1,649,000. Monashee Investment Management LLC acquired a new position in Pattern Group during the 3rd quarter valued at approximately $2,055,000. Finally, Dragoneer Investment Group LLC acquired a new position in Pattern Group during the 3rd quarter valued at approximately $6,709,000.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Pattern Group in a research note on Monday, March 23rd. Needham & Company LLC boosted their price target on shares of Pattern Group from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus decreased their price target on shares of Pattern Group from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Wall Street Zen upgraded shares of Pattern Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

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.