Pattern Group (NASDAQ:PTRN) Reaches New 12-Month High – Here’s Why

Pattern Group Inc. (NASDAQ:PTRN) reached a new 52-week high during trading on Monday . The stock traded as high as $27.15 and last traded at $27.6150, with a volume of 91637 shares traded. The stock had previously closed at $26.43.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PTRN shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Pattern Group in a research report on Thursday, June 18th. JPMorgan Chase & Co. lifted 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. The Goldman Sachs Group reiterated a “buy” rating and set a $27.00 price target on shares of Pattern Group in a report on Monday, June 29th. Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Needham & Company LLC raised their price objective 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. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.78.

Pattern Group Trading Up 5.8%

The company has a 50-day simple moving average of $18.98 and a 200 day simple moving average of $14.67. The company has a market cap of $4.34 billion and a P/E ratio of -14.92.

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

Insiders Place Their Bets

In related news, Director Ann Mather sold 5,301 shares of Pattern Group stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $16.51, for a total transaction of $87,519.51. Following the completion of the sale, the director owned 31,509 shares in the company, valued at $520,213.59. This trade represents a 14.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 70.97% of the stock is owned by insiders.

Institutional Trading of Pattern Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Clearstead Advisors LLC grew its stake in Pattern Group by 222.0% in the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock worth $27,000 after purchasing an additional 1,636 shares in the last quarter. Roxbury Financial LLC bought a new stake in Pattern Group during the 1st quarter valued at $40,000. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Pattern Group in the 4th quarter worth $58,000. FNY Investment Advisers LLC purchased a new stake in shares of Pattern Group in the 3rd quarter worth $137,000. Finally, Susquehanna International Group LLP bought a new position in shares of Pattern Group during the 3rd quarter worth $137,000.

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.