Pattern Group (NASDAQ:PTRN) Now Covered by BMO Capital Markets

Key Points

• BMO Capital Markets initiated coverage on Pattern Group (NASDAQ:PTRN) with an "outperform" rating and a price target of $19.00, indicating a potential upside of 35.62%.
• Multiple analysts, including Evercore ISI and Jefferies Financial Group, also set target prices around $18.00 for the stock, contributing to an average rating of "Buy" and an average target price of $18.11.
• CEO David K. Wright and Director Daniel Gay both sold significant amounts of shares on September 22nd, notably a 24.24% decrease in Wright's ownership, raising questions about insider confidence in the stock.

Investment analysts at BMO Capital Markets initiated coverage on shares of Pattern Group (NASDAQ:PTRN - Get Free Report) in a report issued on Tuesday, Marketbeat Ratings reports. The firm set an "outperform" rating and a $19.00 price target on the stock. BMO Capital Markets' price target indicates a potential upside of 35.62% from the stock's current price.

A number of other equities research analysts have also recently commented on the company. 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. Jefferies Financial Group assumed coverage on Pattern Group in a report on Tuesday. They set a "buy" rating and a $18.00 target price on the stock. KeyCorp assumed coverage on Pattern Group in a report on Tuesday. They set an "overweight" rating and a $18.00 target price on the stock. Stifel Nicolaus assumed coverage on Pattern Group in a report on Tuesday. They set a "buy" rating and a $18.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on Pattern Group in a report on Tuesday. They set an "overweight" rating and a $18.00 target price on the stock. Five equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. Based on data from MarketBeat, Pattern Group currently has an average rating of "Buy" and an average target price of $18.11.

Pattern Group Trading Up 0.3%

NASDAQ PTRN opened at $14.01 on Tuesday. Pattern Group has a 12-month low of $12.00 and a 12-month high of $16.00.

Insider Activity

In other news, CEO David K. Wright sold 9,414,286 shares of Pattern Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $13.02, for a total transaction of $122,574,003.72. Following the sale, the chief executive officer directly owned 29,418,585 shares of the company's stock, valued at approximately $383,029,976.70. The trade was a 24.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Gay sold 1,300,000 shares of Pattern Group 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. The trade was 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.