Sylebra Capital LLC Takes $1.97 Million Position in Pattern Group Inc. $PTRN

Sylebra Capital LLC purchased a new position in shares of Pattern Group Inc. (NASDAQ:PTRN) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 158,556 shares of the company’s stock, valued at approximately $1,971,000. Pattern Group comprises approximately 0.3% of Sylebra Capital LLC’s holdings, making the stock its 11th largest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. purchased a new position in Pattern Group in the 3rd quarter valued at approximately $20,640,000. Blair William & Co. IL acquired a new position in Pattern Group during the third quarter worth $253,000. Legal & General Group Plc purchased a new stake in Pattern Group during the third quarter worth $411,000. UBS Group AG purchased a new stake in Pattern Group during the third quarter worth $7,578,000. Finally, Sei Investments Co. acquired a new stake in Pattern Group in the third quarter valued at $654,000.

Insider Activity

In other news, Director Ann Mather sold 5,301 shares of Pattern Group stock in a transaction on Friday, May 15th. The stock was sold at an average price of $16.51, for a total value of $87,519.51. Following the completion of the sale, the director owned 31,509 shares of the company’s stock, valued at $520,213.59. The trade was a 14.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 70.97% of the stock is owned by company insiders.

Pattern Group Trading Down 0.6%

Pattern Group stock opened at $23.14 on Wednesday. The stock has a market cap of $3.59 billion and a PE ratio of -12.37. The stock has a 50-day moving average price of $22.92 and a 200 day moving average price of $16.45. Pattern Group Inc. has a 52 week low of $8.92 and a 52 week high of $29.80.

Pattern Group (NASDAQ:PTRN) last announced its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06. The firm had revenue of $773.73 million during the quarter, compared to analyst estimates of $715.90 million. The company’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. On average, equities analysts predict that Pattern Group Inc. will post 0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PTRN shares. Needham & Company LLC raised their price target on Pattern Group from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Pattern Group from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $27.00 price objective on shares of Pattern Group in a research note on Monday, June 29th. Wall Street Zen upgraded shares of Pattern Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pattern Group in a report on Thursday, June 18th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Pattern Group presently has an average rating of “Moderate Buy” and an average target price of $22.89.

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.