Pattern Group Inc.’s (NASDAQ:PTRN) Quiet Period Will Expire on October 29th

Pattern Group’s (NASDAQ:PTRN) quiet period will expire on Wednesday, October 29th. Pattern Group had issued 21,428,572 shares in its IPO on September 19th. The total size of the offering was $300,000,008 based on an initial share price of $14.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

Several brokerages recently commented on PTRN. Robert W. Baird began coverage on Pattern Group in a report on Tuesday, October 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Baird R W upgraded Pattern Group to a “strong-buy” rating in a report on Tuesday, October 14th. Needham & Company LLC initiated coverage on Pattern Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $18.00 price target on the stock. Stifel Nicolaus initiated coverage on Pattern Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on Pattern Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $18.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $18.11.

Pattern Group Price Performance

NASDAQ PTRN opened at $18.07 on Friday. Pattern Group has a 12 month low of $12.00 and a 12 month high of $18.19.

Insider Transactions at Pattern Group

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 completion of the sale, the chief executive officer owned 29,418,585 shares in the company, valued at approximately $383,029,976.70. This trade represents a 24.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel Gay sold 1,300,000 shares of Pattern Group stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $13.02, for a total value of $16,926,000.00. Following the sale, the director owned 829,475 shares of the company’s stock, valued at approximately $10,799,764.50. This trade represents a 61.05% decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Pattern Group

A hedge fund recently bought a new stake in Pattern Group stock. SG Americas Securities LLC acquired a new stake in shares of Pattern Group Inc. (NASDAQ:PTRN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,281 shares of the company’s stock, valued at approximately $168,000.

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.