Urban Outfitters (NASDAQ:URBN) Shares Gap Down Following Insider Selling

Urban Outfitters, Inc. (NASDAQ:URBN) gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $81.56, but opened at $74.75. Urban Outfitters shares last traded at $72.0470, with a volume of 716,565 shares.

Specifically, CEO Richard A. Hayne sold 10,667 shares of Urban Outfitters stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $79.71, for a total value of $850,266.57. Following the completion of the transaction, the chief executive officer directly owned 17,718,596 shares of the company’s stock, valued at $1,412,349,287.16. The trade was a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Margaret Hayne sold 9,333 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $79.71, for a total transaction of $743,933.43. Following the sale, the insider directly owned 2,169,398 shares in the company, valued at approximately $172,922,714.58. This represents a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In other Urban Outfitters news, CEO Richard A. Hayne sold 10,667 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $76.57, for a total value of $816,772.19. Following the completion of the transaction, the chief executive officer directly owned 17,739,930 shares of the company’s stock, valued at approximately $1,358,346,440.10. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several research firms have recently commented on URBN. JPMorgan Chase & Co. increased their price target on shares of Urban Outfitters from $89.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. UBS Group upped their price objective on Urban Outfitters from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Morgan Stanley increased their price objective on Urban Outfitters from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Citigroup lifted their target price on Urban Outfitters from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, Zacks Research downgraded Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.50.

Urban Outfitters Trading Down 11.9%

The stock has a 50 day moving average price of $73.08 and a two-hundred day moving average price of $72.50. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 1.23 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN) last announced its quarterly earnings data on Wednesday, December 10th. The apparel retailer reported $1.28 EPS for the quarter. Urban Outfitters had a return on equity of 18.33% and a net margin of 8.15%.The business had revenue of $1.53 billion during the quarter. On average, equities analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Institutional Trading of Urban Outfitters

A number of hedge funds have recently modified their holdings of URBN. Root Financial Partners LLC bought a new position in Urban Outfitters during the 3rd quarter worth approximately $25,000. Hollencrest Capital Management acquired a new stake in Urban Outfitters in the second quarter worth $26,000. Global Retirement Partners LLC boosted its position in shares of Urban Outfitters by 158.4% during the third quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 282 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Urban Outfitters by 180.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after buying an additional 301 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Urban Outfitters by 125.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock valued at $36,000 after buying an additional 274 shares during the period. 77.61% of the stock is currently owned by institutional investors and hedge funds.

About Urban Outfitters

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city’s historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.