Pattern Group (NASDAQ:PTRN) Rating Increased to Hold at Wall Street Zen

Key Points

• Pattern Group has been upgraded to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment regarding the stock.
• CEO David K. Wright sold over 9.4 million shares of stock, representing a 24.24% decrease in his position, while a director also sold 1.3 million shares.
• The stock is currently trading at $13.32, down 5.0%, with a 12-month low of $12.00 and a high of $16.00.

Pattern Group (NASDAQ:PTRN - Get Free Report) was upgraded by Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday.

Pattern Group Trading Down 5.0%

Shares of PTRN stock opened at $13.32 on Friday. Pattern Group has a 12-month low of $12.00 and a 12-month high of $16.00.

Insider Buying and Selling

In related news, CEO David K. Wright sold 9,414,286 shares of Pattern Group stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $13.02, for a total value of $122,574,003.72. Following the completion of the transaction, the chief executive officer directly owned 29,418,585 shares in the company, valued at approximately $383,029,976.70. The trade was a 24.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Gay sold 1,300,000 shares of Pattern Group stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $13.02, for a total transaction of $16,926,000.00. Following the completion of the transaction, the director owned 829,475 shares of the company's stock, valued at $10,799,764.50. This represents a 61.05% 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.

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