Sylebra Capital LLC Invests $1.97 Million in Pattern Group Inc. $PTRN

Sylebra Capital LLC purchased a new position in shares of Pattern Group Inc. (NASDAQ:PTRN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 158,556 shares of the company’s stock, valued at approximately $1,971,000. Pattern Group comprises approximately 0.3% of Sylebra Capital LLC’s holdings, making the stock its 11th biggest position. Sylebra Capital LLC owned about 0.10% of Pattern Group at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PTRN. Weiss Asset Management LP purchased a new stake in Pattern Group during the 1st quarter valued at approximately $3,212,000. Public Employees Retirement System of Ohio grew its stake in shares of Pattern Group by 44.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 118,097 shares of the company’s stock valued at $1,468,000 after purchasing an additional 36,539 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Pattern Group in the 1st quarter valued at approximately $561,000. Sei Investments Co. increased its holdings in shares of Pattern Group by 43.7% in the first quarter. Sei Investments Co. now owns 102,721 shares of the company’s stock valued at $1,277,000 after purchasing an additional 31,223 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Pattern Group by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,101,545 shares of the company’s stock worth $25,723,000 after purchasing an additional 23,589 shares during the last quarter.

Pattern Group Trading Down 0.6%

Shares of PTRN stock opened at $23.14 on Wednesday. The company has a market cap of $3.59 billion and a price-to-earnings ratio of -12.37. The stock has a 50 day simple moving average of $22.92 and a 200-day simple moving average of $16.45. Pattern Group Inc. has a 12-month low of $8.92 and a 12-month high of $29.80.

Pattern Group (NASDAQ:PTRN) last posted its quarterly 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 analyst estimates of $715.90 million. During the same period in the prior year, the business earned $0.17 earnings per share. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. On average, equities analysts forecast that Pattern Group Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Transactions at Pattern Group

In other Pattern Group news, Director Ann Mather sold 5,301 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $16.51, for a total value of $87,519.51. Following the completion of the sale, the director owned 31,509 shares of the company’s stock, valued at approximately $520,213.59. This trade represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 70.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $27.00 price target on shares of Pattern Group in a report on Monday, June 29th. Needham & Company LLC boosted their price objective on shares of Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped 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. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a research note on Thursday, June 18th. Finally, Jefferies Financial Group downgraded shares of Pattern Group from a “buy” rating to a “hold” rating and lifted their target price for the company from $21.00 to $30.00 in a report on Tuesday, July 14th. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pattern Group presently has an average rating of “Moderate Buy” and a consensus price target of $22.89.

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.