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

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) gapped down before the market opened on Monday following insider selling activity. 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 the firm’s 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 sale, the chief executive officer directly owned 17,718,596 shares of the company’s stock, valued at approximately $1,412,349,287.16. This trade represents a 0.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Margaret Hayne sold 9,333 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $79.71, for a total value of $743,933.43. Following the transaction, the insider directly owned 2,169,398 shares of the company’s stock, valued at $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 related news, CEO Richard A. Hayne sold 10,667 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $76.57, for a total transaction of $816,772.19. Following the completion of the sale, the chief executive officer owned 17,739,930 shares in the company, valued at $1,358,346,440.10. This represents a 0.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on URBN. UBS Group upped their price target on Urban Outfitters from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Robert W. Baird set a $93.00 target price on shares of Urban Outfitters in a research note on Wednesday, December 17th. Zacks Research lowered shares of Urban Outfitters from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 6th. The Goldman Sachs Group initiated coverage on shares of Urban Outfitters in a research report on Tuesday, December 9th. They set a “neutral” rating and a $83.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Urban Outfitters in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Urban Outfitters currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.50.

Urban Outfitters Trading Down 11.9%

The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.23 and a beta of 1.23. The stock has a fifty day moving average price of $73.08 and a 200-day moving average price of $72.50.

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

Hedge Funds Weigh In On Urban Outfitters

Institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Urban Outfitters during the third quarter worth about $25,000. Hollencrest Capital Management bought a new stake in Urban Outfitters during the 2nd quarter worth approximately $26,000. Global Retirement Partners LLC grew its position in Urban Outfitters by 158.4% during the 3rd quarter. Global Retirement Partners LLC now owns 460 shares of the apparel retailer’s stock worth $33,000 after acquiring an additional 282 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in Urban Outfitters by 180.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 274 shares during the last quarter. 77.61% of the stock is owned by institutional investors.

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.