Pattern Group (NASDAQ:PTRN) Sets New 52-Week Low – Here’s What Happened

Pattern Group Inc. (NASDAQ:PTRN) shares reached a new 52-week low on Wednesday . The stock traded as low as $10.92 and last traded at $10.96, with a volume of 295980 shares traded. The stock had previously closed at $12.02.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group set a $20.00 price target on Pattern Group in a research report on Thursday, December 11th. 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 report on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Pattern Group in a report on Wednesday, December 24th. Robert W. Baird upped their target price on Pattern Group from $18.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, KeyCorp upped their price target on shares of Pattern Group from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pattern Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Pattern Group Stock Performance

The firm’s fifty day simple moving average is $12.86. The firm has a market cap of $1.67 billion and a price-to-earnings ratio of -4.94.

Institutional Investors Weigh In On Pattern Group

A number of large investors have recently added to or reduced their stakes in PTRN. Charles Schwab Investment Management Inc. bought a new stake in Pattern Group in the 4th quarter valued at $1,537,000. State Street Corp grew its position in Pattern Group by 414.8% during the fourth quarter. State Street Corp now owns 113,474 shares of the company’s stock worth $1,309,000 after buying an additional 91,432 shares in the last quarter. Wells Fargo & Company MN increased its stake in Pattern Group by 217.1% during the fourth quarter. Wells Fargo & Company MN now owns 30,736 shares of the company’s stock valued at $355,000 after acquiring an additional 21,042 shares during the period. Wasatch Advisors LP acquired a new position in Pattern Group in the 4th quarter valued at approximately $23,144,000. Finally, Federation des caisses Desjardins du Quebec bought a new stake in shares of Pattern Group in the 4th quarter worth approximately $58,000.

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.