Pattern Group (NASDAQ:PTRN) Shares Down 5.9% – What’s Next?

Pattern Group Inc. (NASDAQ:PTRN) shares fell 5.9% during trading on Tuesday . The company traded as low as $26.40 and last traded at $26.3650. 333,944 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,395,677 shares. The stock had previously closed at $28.01.

Analyst Ratings Changes

PTRN has been the subject of a number of analyst reports. Wall Street Zen raised Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Pattern Group in a research note on Thursday, June 18th. Jefferies Financial Group downgraded shares of Pattern Group from a “buy” rating to a “hold” rating and increased their price target for the stock from $21.00 to $30.00 in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Pattern Group in a report on Monday, June 29th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.89.

Pattern Group Stock Down 5.5%

The firm has a market capitalization of $3.85 billion and a PE ratio of -13.27. The stock has a 50-day moving average price of $22.44 and a 200 day moving average price of $16.17.

Pattern Group (NASDAQ:PTRN) last announced its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. The company’s quarterly revenue was up 43.2% on a year-over-year basis. During the same quarter last year, the business earned $0.17 EPS. As a group, equities analysts predict that Pattern Group Inc. will post 0.56 earnings per share for the current fiscal year.

Insider Activity at Pattern Group

In other news, Director Ann Mather sold 5,301 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 31,509 shares in the company, valued at $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 SEC, which is available through this link. 70.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Pattern Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearstead Advisors LLC raised its position in shares of Pattern Group by 222.0% in the fourth quarter. Clearstead Advisors LLC now owns 2,373 shares of the company’s stock valued at $27,000 after buying an additional 1,636 shares during the last quarter. Roxbury Financial LLC purchased a new stake in Pattern Group during the 1st quarter valued at about $40,000. Federation des caisses Desjardins du Quebec acquired a new stake in Pattern Group in the 4th quarter valued at about $58,000. Susquehanna International Group LLP purchased a new position in Pattern Group in the 3rd quarter worth approximately $137,000. Finally, Jacobs Equity LLC acquired a new position in shares of Pattern Group during the 4th quarter worth approximately $151,000.

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.