Pattern Group (NASDAQ:PTRN) Director Sells $87,519.51 in Stock

Pattern Group Inc. (NASDAQ:PTRN) 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 transaction of $87,519.51. Following the sale, the director directly owned 31,509 shares of the company’s stock, valued at approximately $520,213.59. The trade was a 14.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Pattern Group Trading Up 0.8%

NASDAQ PTRN opened at $17.72 on Thursday. The firm has a market cap of $2.75 billion and a price-to-earnings ratio of -9.48. The company has a 50 day moving average of $13.46 and a 200-day moving average of $13.41. Pattern Group Inc. has a 1-year low of $8.92 and a 1-year high of $20.10.

Pattern Group (NASDAQ:PTRN) last posted its quarterly earnings data 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 firm had revenue of $773.73 million for the quarter, compared to analyst estimates of $715.90 million. The business’s quarterly revenue was up 43.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. On average, analysts forecast that Pattern Group Inc. will post 0.56 earnings per share for the current year.

Pattern Group announced that its board has authorized a stock buyback program on Thursday, March 5th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 5.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on PTRN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a report on Monday, March 23rd. Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. raised their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Robert W. Baird dropped their price objective on shares of Pattern Group from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, March 6th. 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 report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Institutional Trading of Pattern Group

A number of hedge funds and other institutional investors have recently modified their holdings of PTRN. Knox Lane LP acquired a new stake in shares of Pattern Group in the fourth quarter valued at approximately $325,157,000. Norges Bank acquired a new stake in shares of Pattern Group in the fourth quarter valued at approximately $25,965,000. Wasatch Advisors LP acquired a new stake in shares of Pattern Group in the fourth quarter valued at approximately $23,144,000. Capital World Investors acquired a new stake in shares of Pattern Group in the third quarter valued at approximately $23,975,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Pattern Group in the third quarter valued at approximately $20,640,000.

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.