Insider Selling: Urban Outfitters (NASDAQ:URBN) CEO Sells $758,743.71 in Stock

Urban Outfitters, Inc. (NASDAQ:URBN) CEO Richard Hayne sold 10,667 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $71.13, for a total value of $758,743.71. Following the completion of the transaction, the chief executive officer directly owned 17,511,209 shares of the company’s stock, valued at approximately $1,245,572,296.17. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Urban Outfitters Stock Down 3.2%

NASDAQ:URBN traded down $2.26 during trading hours on Thursday, reaching $68.26. The company had a trading volume of 1,232,917 shares, compared to its average volume of 1,590,773. The stock has a 50-day moving average of $75.04 and a two-hundred day moving average of $72.21. Urban Outfitters, Inc. has a one year low of $41.89 and a one year high of $84.35. The firm has a market capitalization of $6.12 billion, a PE ratio of 12.88, a PEG ratio of 0.98 and a beta of 1.24.

Urban Outfitters (NASDAQ:URBN) last issued its earnings results on Wednesday, December 10th. The apparel retailer reported $1.28 EPS for the quarter. The company had revenue of $1.53 billion for the quarter. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.33%. As a group, sell-side analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

URBN has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Robert W. Baird set a $93.00 price target on shares of Urban Outfitters in a research note on Wednesday, December 17th. The Goldman Sachs Group started coverage on shares of Urban Outfitters in a research report on Tuesday, December 9th. They issued a “neutral” rating and a $83.00 price objective for the company. Zacks Research cut Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 6th. Finally, Wells Fargo & Company upped their price target on Urban Outfitters from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.67.

Hedge Funds Weigh In On Urban Outfitters

Hedge funds have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH increased its stake in Urban Outfitters by 316.5% in the third quarter. Allianz Asset Management GmbH now owns 187,660 shares of the apparel retailer’s stock valued at $13,405,000 after purchasing an additional 142,600 shares in the last quarter. Broad Peak Investment Advisers Pte Ltd acquired a new position in shares of Urban Outfitters in the 3rd quarter valued at $5,917,000. Oak Harvest Investment Services grew its holdings in shares of Urban Outfitters by 203.1% in the 3rd quarter. Oak Harvest Investment Services now owns 30,313 shares of the apparel retailer’s stock valued at $2,165,000 after buying an additional 20,313 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Urban Outfitters by 17.4% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 279,763 shares of the apparel retailer’s stock valued at $19,983,000 after buying an additional 41,559 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Urban Outfitters by 134.9% during the 2nd quarter. Bank of Montreal Can now owns 20,709 shares of the apparel retailer’s stock worth $1,502,000 after buying an additional 11,894 shares during the period. Institutional investors and hedge funds own 77.61% of the company’s stock.

Urban Outfitters Company Profile

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.