Allspring Global Investments Holdings LLC Sells 38,200 Shares of Urban Outfitters, Inc. (NASDAQ:URBN)

Allspring Global Investments Holdings LLC cut its holdings in Urban Outfitters, Inc. (NASDAQ:URBN) by 29.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,406 shares of the apparel retailer’s stock after selling 38,200 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Urban Outfitters were worth $4,894,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in URBN. Whipplewood Advisors LLC grew its position in Urban Outfitters by 2,893.8% in the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer’s stock worth $25,000 after purchasing an additional 463 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Urban Outfitters by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 525 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 200 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Urban Outfitters in the 1st quarter worth $52,000. GAMMA Investing LLC boosted its stake in shares of Urban Outfitters by 34.7% in the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer’s stock worth $54,000 after buying an additional 263 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Urban Outfitters by 315.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the apparel retailer’s stock worth $82,000 after acquiring an additional 1,125 shares during the period. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Urban Outfitters Price Performance

Shares of URBN stock opened at $73.52 on Friday. Urban Outfitters, Inc. has a one year low of $33.86 and a one year high of $75.80. The company’s fifty day moving average price is $65.58 and its 200-day moving average price is $57.69. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.24 and a beta of 1.44.

Urban Outfitters (NASDAQ:URBN) last issued its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.35. Urban Outfitters had a return on equity of 17.98% and a net margin of 7.91%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business posted $0.69 EPS. Urban Outfitters’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Transactions at Urban Outfitters

In related news, Director Harry S. Cherken, Jr. sold 35,000 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $74.15, for a total transaction of $2,595,250.00. Following the sale, the director owned 480,296 shares of the company’s stock, valued at approximately $35,613,948.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Azeez Hayne sold 12,856 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $73.00, for a total value of $938,488.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,156 shares of company stock valued at $11,636,158. 31.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on URBN shares. Wall Street Zen upgraded Urban Outfitters from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 14th. Robert W. Baird upgraded shares of Urban Outfitters from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $75.00 to $90.00 in a research report on Wednesday, June 11th. Barclays upped their target price on shares of Urban Outfitters from $59.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Finally, BMO Capital Markets set a $76.00 price target on shares of Urban Outfitters and gave the stock a “market perform” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.09.

Urban Outfitters Profile

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.