Pattern Group (NASDAQ:PTRN) Director Ann Mather Sells 5,301 Shares

Pattern Group Inc. (NASDAQ:PTRN) Director Ann Mather sold 5,301 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $16.51, for a total transaction of $87,519.51. Following the sale, the director owned 31,509 shares of the company’s stock, valued at $520,213.59. This trade represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Pattern Group Price Performance

PTRN stock opened at $17.57 on Tuesday. Pattern Group Inc. has a 52-week low of $8.92 and a 52-week high of $20.10. The company has a 50-day moving average of $13.18 and a two-hundred day moving average of $13.39. The stock has a market capitalization of $2.73 billion and a price-to-earnings ratio of -9.40.

Pattern Group (NASDAQ:PTRN) last released its quarterly 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 firm had revenue of $773.73 million for the quarter, compared to the consensus estimate of $715.90 million. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s revenue was up 43.2% on a year-over-year basis. Equities analysts expect that Pattern Group Inc. will post 0.56 EPS for the current fiscal year.

Pattern Group announced that its board has initiated a share buyback plan on Thursday, March 5th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 5.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas acquired a new position in Pattern Group in the third quarter worth about $2,740,000. Capelight Capital Asset Management LP acquired a new position in Pattern Group in the fourth quarter worth about $923,000. Hudson Bay Capital Management LP acquired a new position in Pattern Group in the third quarter worth about $1,649,000. Monashee Investment Management LLC acquired a new position in Pattern Group in the third quarter worth about $2,055,000. Finally, Dragoneer Investment Group LLC acquired a new position in Pattern Group in the third quarter worth about $6,709,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a research report on Monday, March 23rd. Needham & Company LLC upped their price objective on shares of Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Robert W. Baird cut their price objective on shares of Pattern Group from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Ten 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.67.

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.