Richard Hayne Sells 10,667 Shares of Urban Outfitters (NASDAQ:URBN) Stock

Urban Outfitters, Inc. (NASDAQ:URBN) CEO Richard Hayne sold 10,667 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $74.94, for a total transaction of $799,384.98. Following the sale, the chief executive officer directly owned 17,995,938 shares in the company, valued at approximately $1,348,615,593.72. This represents a 0.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Urban Outfitters Stock Performance

Shares of NASDAQ URBN traded up $4.24 during trading on Monday, reaching $78.31. The company had a trading volume of 3,176,120 shares, compared to its average volume of 2,143,156. Urban Outfitters, Inc. has a 52 week low of $41.89 and a 52 week high of $80.71. The business’s 50 day moving average price is $67.55 and its 200-day moving average price is $70.44. The stock has a market cap of $7.02 billion, a PE ratio of 15.29, a PEG ratio of 1.04 and a beta of 1.28.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Tuesday, November 25th. The apparel retailer reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.09. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $1.10 earnings per share. Urban Outfitters’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts anticipate that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Hedge Funds Weigh In On Urban Outfitters

A number of hedge funds and other institutional investors have recently made changes to their positions in URBN. Cambria Investment Management L.P. increased its position in shares of Urban Outfitters by 15.3% in the 3rd quarter. Cambria Investment Management L.P. now owns 15,694 shares of the apparel retailer’s stock valued at $1,121,000 after buying an additional 2,088 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Urban Outfitters during the third quarter worth about $466,000. Danske Bank A S acquired a new position in Urban Outfitters in the third quarter valued at about $4,032,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Urban Outfitters by 11.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 84,500 shares of the apparel retailer’s stock worth $6,036,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Oberweis Asset Management Inc. raised its position in shares of Urban Outfitters by 10.5% during the third quarter. Oberweis Asset Management Inc. now owns 234,300 shares of the apparel retailer’s stock worth $16,736,000 after purchasing an additional 22,200 shares during the period. 77.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Urban Outfitters from $85.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Urban Outfitters in a report on Wednesday, October 8th. Bank of America raised their target price on shares of Urban Outfitters from $90.00 to $93.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. Wells Fargo & Company boosted their price target on shares of Urban Outfitters from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. Finally, Wall Street Zen lowered shares of Urban Outfitters from a “strong-buy” rating to a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Urban Outfitters currently has an average rating of “Moderate Buy” and a consensus price target of $85.36.

About Urban Outfitters

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.