Azeez Hayne Sells 8,733 Shares of Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters, Inc. (NASDAQ:URBN) insider Azeez Hayne sold 8,733 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Urban Outfitters Price Performance

NASDAQ:URBN traded up $2.41 during midday trading on Tuesday, reaching $75.42. The stock had a trading volume of 1,592,068 shares, compared to its average volume of 1,593,663. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35. The firm’s fifty day simple moving average is $68.01 and its 200-day simple moving average is $70.16. The stock has a market capitalization of $6.46 billion, a P/E ratio of 14.48, a PEG ratio of 1.40 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.18. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. On average, equities research analysts anticipate that Urban Outfitters, Inc. will post 5.97 earnings per share for the current fiscal year.

Institutional Trading of Urban Outfitters

Hedge funds have recently modified their holdings of the company. Abrams Bison Investments LLC bought a new stake in shares of Urban Outfitters during the fourth quarter valued at approximately $127,114,000. Jupiter Asset Management Ltd. boosted its stake in Urban Outfitters by 900.1% during the third quarter. Jupiter Asset Management Ltd. now owns 969,999 shares of the apparel retailer’s stock worth $69,287,000 after buying an additional 873,008 shares in the last quarter. Capital World Investors acquired a new stake in Urban Outfitters during the third quarter worth $60,795,000. Balyasny Asset Management L.P. increased its holdings in Urban Outfitters by 5,360.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after buying an additional 606,831 shares during the period. Finally, Norges Bank acquired a new position in shares of Urban Outfitters in the 4th quarter valued at $44,191,000. Institutional investors own 77.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company dropped their price target on Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Jefferies Financial Group reissued a “hold” rating and issued a $72.00 price objective on shares of Urban Outfitters in a research report on Thursday, May 21st. Wall Street Zen lowered shares of Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. JPMorgan Chase & Co. upped their target price on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $98.00 price target on shares of Urban Outfitters in a report on Thursday, February 26th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.18.

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.