Pattern Group (NASDAQ:PTRN) Trading Down 6.7% – Should You Sell?

Pattern Group Inc. (NASDAQ:PTRN)’s stock price was down 6.7% during trading on Monday . The company traded as low as $13.53 and last traded at $13.55. Approximately 1,011,800 shares traded hands during trading, a decline of 7% from the average daily volume of 1,086,778 shares. The stock had previously closed at $14.53.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Robert W. Baird raised their price target on Pattern Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. William Blair assumed coverage on Pattern Group in a research report on Tuesday, October 14th. They set an “outperform” rating on the stock. Evercore ISI set a $23.00 price target on shares of Pattern Group and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Zacks Research raised shares of Pattern Group to a “hold” rating in a research note on Wednesday, October 15th. Finally, The Goldman Sachs Group assumed coverage on Pattern Group in a report on Tuesday, October 14th. They issued a “buy” rating and a $17.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Pattern Group presently has an average rating of “Moderate Buy” and an average price target of $21.00.

Pattern Group Stock Performance

The firm’s 50-day moving average price is $14.06.

Pattern Group (NASDAQ:PTRN) last posted its earnings results on Wednesday, November 5th. The company reported ($2.19) EPS for the quarter, beating the consensus estimate of ($2.71) by $0.52. The firm had revenue of $639.66 million during the quarter, compared to analyst estimates of $570.78 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors acquired a new position in Pattern Group in the 3rd quarter valued at approximately $23,975,000. Vanguard Group Inc. acquired a new stake in shares of Pattern Group in the third quarter valued at about $20,640,000. Woodline Partners LP acquired a new position in shares of Pattern Group in the third quarter worth approximately $19,678,000. Alyeska Investment Group L.P. acquired a new stake in Pattern Group during the 3rd quarter valued at approximately $15,755,000. Finally, Westfield Capital Management Co. LP bought a new position in Pattern Group during the 3rd quarter worth approximately $15,562,000.

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.