Urban Outfitters (NASDAQ:URBN) Trading Down 2.7% Following Insider Selling

Urban Outfitters, Inc. (NASDAQ:URBN) traded down 2.7% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $73.39 and last traded at $72.73. 92,710 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,945,837 shares. The stock had previously closed at $74.74.

Specifically, insider Azeez Hayne sold 12,856 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $73.00, for a total transaction of $938,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Melanie Marein-Efron sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $73.36, for a total transaction of $1,467,200.00. Following the completion of the sale, the chief financial officer now directly owns 5,036 shares of the company’s stock, valued at $369,440.96. The trade was a 79.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Urban Outfitters news, Director Harry S. Cherken, Jr. sold 35,000 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $74.15, for a total value of $2,595,250.00. Following the completion of the sale, the director now directly owns 480,296 shares of the company’s stock, valued at approximately $35,613,948.40. This represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on URBN shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $72.00 price objective (up from $59.00) on shares of Urban Outfitters in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised shares of Urban Outfitters from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $63.00 to $78.00 in a research report on Thursday, May 22nd. UBS Group upped their price objective on shares of Urban Outfitters from $54.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup reduced their price objective on shares of Urban Outfitters from $65.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird boosted their target price on shares of Urban Outfitters from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.36.

Urban Outfitters Stock Performance

The company has a market capitalization of $6.48 billion, a PE ratio of 20.05, a PEG ratio of 1.02 and a beta of 1.33. The stock’s 50 day moving average is $55.04 and its 200 day moving average is $53.47.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.35. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Urban Outfitters’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS. On average, equities research analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Institutional Trading of Urban Outfitters

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Urban Outfitters by 1,016.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer’s stock valued at $7,223,000 after buying an additional 119,820 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Urban Outfitters by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 706,161 shares of the apparel retailer’s stock valued at $38,754,000 after buying an additional 51,657 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Urban Outfitters by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,966 shares of the apparel retailer’s stock valued at $64,482,000 after buying an additional 60,697 shares in the last quarter. Amundi increased its holdings in Urban Outfitters by 850.3% during the 4th quarter. Amundi now owns 34,191 shares of the apparel retailer’s stock worth $1,952,000 after acquiring an additional 30,593 shares during the period. Finally, Norges Bank bought a new stake in Urban Outfitters during the 4th quarter worth approximately $31,605,000. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Urban Outfitters Company Profile

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.