Needham & Company LLC Initiates Coverage on Pattern Group (NASDAQ:PTRN)

Stock analysts at Needham & Company LLC initiated coverage on shares of Pattern Group (NASDAQ:PTRN) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $18.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 28.57% from the company’s current price.

PTRN has been the subject of a number of other research reports. William Blair started coverage on shares of Pattern Group in a report on Tuesday. They set an “outperform” rating for the company. KeyCorp started coverage on Pattern Group in a research note on Tuesday. They set an “overweight” rating and a $18.00 price objective for the company. Baird R W raised Pattern Group to a “strong-buy” rating in a research note on Tuesday. Evercore ISI assumed coverage on Pattern Group in a report on Tuesday. They set an “outperform” rating and a $19.00 target price on the stock. Finally, Wall Street Zen raised Pattern Group to a “hold” rating in a research note on Saturday, October 11th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to MarketBeat.com, Pattern Group has an average rating of “Buy” and a consensus price target of $18.11.

Pattern Group Stock Performance

Shares of NASDAQ:PTRN opened at $14.00 on Tuesday. Pattern Group has a one year low of $12.00 and a one year high of $16.00.

Insider Transactions at Pattern Group

In other Pattern Group news, CEO David K. Wright sold 9,414,286 shares of the stock in a transaction dated Monday, September 22nd. The stock was 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 directly owned 29,418,585 shares in the company, valued at $383,029,976.70. This represents a 24.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Gay sold 1,300,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $13.02, for a total value of $16,926,000.00. Following the sale, the director directly owned 829,475 shares in the company, valued at approximately $10,799,764.50. This represents a 61.05% decrease in their position. The disclosure for this sale can be found here.

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.