Pattern Group (NASDAQ:PTRN) Reaches New 12-Month Low – Time to Sell?

Pattern Group Inc. (NASDAQ:PTRN) hit a new 52-week low on Friday . The stock traded as low as $11.21 and last traded at $11.21, with a volume of 130706 shares changing hands. The stock had previously closed at $11.54.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PTRN. Needham & Company LLC lifted their price objective on Pattern Group from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded Pattern Group to a “hold” rating in a research report on Saturday, October 11th. Robert W. Baird upped their price target on Pattern Group from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Evercore ISI set a $23.00 price target on shares of Pattern Group and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, William Blair started coverage on shares of Pattern Group in a report on Tuesday, October 14th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Pattern Group has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

Pattern Group Trading Up 0.7%

The company’s fifty day moving average is $14.60. The company has a market cap of $1.80 billion and a P/E ratio of -5.31.

Pattern Group (NASDAQ:PTRN) last issued 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 company had revenue of $639.66 million for the quarter, compared to analyst estimates of $570.78 million.

Hedge Funds Weigh In On Pattern Group

Large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. acquired a new stake in Pattern Group in the 3rd quarter valued at $13,685,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Pattern Group during the 3rd quarter worth about $14,680,000. Freestone Grove Partners LP bought a new position in shares of Pattern Group in the 3rd quarter valued at about $3,051,000. Burkehill Global Management LP acquired a new stake in shares of Pattern Group in the third quarter valued at about $3,425,000. Finally, Longaeva Partners L.P. acquired a new stake in shares of Pattern Group in the third quarter valued at about $2,009,000.

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.