Pattern Group (NASDAQ:PTRN) Upgraded at Zacks Research

Zacks Research upgraded shares of Pattern Group (NASDAQ:PTRN) to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also issued reports on PTRN. Wall Street Zen upgraded Pattern Group to a “hold” rating in a research report on Saturday, October 11th. Stifel Nicolaus started coverage on Pattern Group in a report on Tuesday. They issued a “buy” rating and a $18.00 price objective for the company. Evercore ISI started coverage on Pattern Group in a report on Tuesday. They issued an “outperform” rating and a $19.00 price objective for the company. Robert W. Baird started coverage on Pattern Group in a report on Tuesday. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Pattern Group in a report on Tuesday. They issued a “buy” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Pattern Group currently has a consensus rating of “Buy” and a consensus target price of $18.11.

Pattern Group Stock Down 3.2%

Shares of PTRN stock opened at $13.37 on Wednesday. Pattern Group has a 1 year low of $12.00 and a 1 year high of $16.00.

Insiders Place Their Bets

In other news, Director Daniel Gay sold 1,300,000 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $13.02, for a total transaction of $16,926,000.00. Following the sale, the director directly owned 829,475 shares of the company’s stock, valued at $10,799,764.50. The trade was a 61.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David K. Wright sold 9,414,286 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 29,418,585 shares in the company, valued at $383,029,976.70. This trade represents a 24.24% decrease in their ownership of the stock. 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.