Pattern Group (NASDAQ:PTRN) Shares Down 4.3% – Should You Sell?

Shares of Pattern Group Inc. (NASDAQ:PTRN) were down 4.3% during mid-day trading on Thursday . The stock traded as low as $14.15 and last traded at $14.69. Approximately 631,500 shares traded hands during trading, a decline of 36% from the average daily volume of 986,525 shares. The stock had previously closed at $15.35.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PTRN shares. Zacks Research upgraded shares of Pattern Group to a “hold” rating in a report on Wednesday, October 15th. William Blair began coverage on Pattern Group in a report on Tuesday, October 14th. They issued an “outperform” rating on the stock. KeyCorp raised their price target on shares of Pattern Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Evercore ISI set a $23.00 price objective on shares of Pattern Group and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Pattern Group to a “hold” rating in a report on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.78.

Pattern Group Stock Down 0.3%

The company has a 50-day moving average of $15.41.

Pattern Group (NASDAQ:PTRN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($2.19) EPS for the quarter, topping analysts’ consensus estimates of ($2.71) by $0.52. The business had revenue of $639.66 million during the quarter, compared to analyst estimates of $570.78 million.

Insider Buying and Selling at Pattern Group

In related news, CEO David K. Wright sold 9,414,286 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $13.02, for a total value of $122,574,003.72. Following the completion of the sale, the chief executive officer owned 29,418,585 shares of the company’s stock, valued at $383,029,976.70. This represents a 24.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Gay sold 1,300,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $13.02, for a total transaction of $16,926,000.00. Following the transaction, the director owned 829,475 shares in the company, valued at $10,799,764.50. This represents a 61.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Investors Weigh In On Pattern Group

A number of institutional investors and hedge funds have recently modified their holdings of PTRN. PNC Financial Services Group Inc. acquired a new position in Pattern Group in the 3rd quarter worth approximately $89,000. Susquehanna International Group LLP purchased a new position in shares of Pattern Group during the 3rd quarter valued at $137,000. SG Americas Securities LLC acquired a new position in shares of Pattern Group in the third quarter worth $168,000. Greenland Capital Management LP purchased a new stake in shares of Pattern Group during the third quarter worth $174,000. Finally, Prelude Capital Management LLC acquired a new stake in Pattern Group during the third quarter valued at $228,000.

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.