Pattern Group (NASDAQ:PTRN) Trading Up 7.1% – Here’s What Happened

Pattern Group Inc. (NASDAQ:PTRN)’s stock price was up 7.1% during trading on Monday . The stock traded as high as $15.45 and last traded at $15.29. Approximately 283,433 shares were traded during trading, a decline of 70% from the average daily volume of 942,399 shares. The stock had previously closed at $14.27.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PTRN. Evercore ISI set a $23.00 price target on Pattern Group and gave the stock an “outperform” rating in a research report on Thursday, November 6th. KeyCorp increased their target price on shares of Pattern Group from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. The Goldman Sachs Group initiated coverage on shares of Pattern Group in a research report on Tuesday, October 14th. They set a “buy” rating and a $17.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research note on Wednesday, December 24th. Finally, BMO Capital Markets raised their target price on shares of Pattern Group from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Pattern Group presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Pattern Group Stock Performance

The company has a market capitalization of $2.48 billion and a P/E ratio of -7.33. The stock’s 50-day moving average price is $13.35.

Pattern Group (NASDAQ:PTRN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($2.19) EPS for the quarter, topping the consensus estimate 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.

Institutional Trading of Pattern Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors acquired a new position in shares of Pattern Group in the third quarter valued at approximately $23,975,000. Vanguard Group Inc. acquired a new position in shares of Pattern Group in the third quarter worth $20,640,000. Woodline Partners LP acquired a new position in shares of Pattern Group in the third quarter worth $19,678,000. Alyeska Investment Group L.P. purchased a new stake in shares of Pattern Group during the third quarter worth $15,755,000. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Pattern Group in the third quarter valued at $15,562,000.

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.