Allspring Global Investments Holdings LLC Increases Stock Position in Urban Outfitters, Inc. $URBN

Key Points

• Allspring Global Investments increased its stake in Urban Outfitters by 137.3% during Q2, now owning approximately 0.25% of the company worth $16.3 million.
• Urban Outfitters reported an earnings per share (EPS) of $1.58, exceeding expectations, and saw a revenue increase of 11.3% year-over-year, reaching $1.50 billion.
• Insider trading activity included CEO Richard A. Hayne selling 9,333 shares at an average price of $70.11, representing a 0.38% decrease in his holdings.

Allspring Global Investments Holdings LLC grew its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 137.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 221,655 shares of the apparel retailer's stock after acquiring an additional 128,249 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.25% of Urban Outfitters worth $16,312,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in shares of Urban Outfitters by 11.2% during the 1st quarter. American Century Companies Inc. now owns 2,322,526 shares of the apparel retailer's stock valued at $121,700,000 after acquiring an additional 233,371 shares during the last quarter. Junto Capital Management LP boosted its holdings in shares of Urban Outfitters by 16.5% during the 1st quarter. Junto Capital Management LP now owns 1,728,447 shares of the apparel retailer's stock valued at $90,571,000 after acquiring an additional 244,801 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Urban Outfitters by 27.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,397,175 shares of the apparel retailer's stock valued at $73,212,000 after acquiring an additional 302,444 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Urban Outfitters during the 1st quarter valued at about $43,769,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Urban Outfitters by 5.7% during the 1st quarter. Panagora Asset Management Inc. now owns 367,013 shares of the apparel retailer's stock valued at $19,231,000 after acquiring an additional 19,934 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Urban Outfitters Trading Up 0.4%

NASDAQ URBN opened at $66.89 on Friday. Urban Outfitters, Inc. has a 12 month low of $34.76 and a 12 month high of $80.71. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.05 and a beta of 1.26. The company's 50 day moving average is $72.05 and its two-hundred day moving average is $66.98.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.14. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter last year, the business earned $1.24 EPS. The firm's revenue was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, CEO Richard A. Hayne sold 9,333 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $70.11, for a total transaction of $654,336.63. Following the completion of the sale, the chief executive officer directly owned 2,430,722 shares of the company's stock, valued at $170,417,919.42. This trade represents a 0.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tricia D. Smith sold 3,400 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $69.77, for a total transaction of $237,218.00. Following the sale, the chief executive officer directly owned 10,077 shares of the company's stock, valued at approximately $703,072.29. This trade represents a 25.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,400 shares of company stock valued at $3,118,738 in the last three months. 31.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

URBN has been the topic of a number of recent analyst reports. Telsey Advisory Group raised their price target on shares of Urban Outfitters from $72.00 to $80.00 and gave the company a "market perform" rating in a report on Thursday, August 28th. Zacks Research upgraded shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Wells Fargo & Company increased their price objective on shares of Urban Outfitters from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 28th. Morgan Stanley increased their price objective on shares of Urban Outfitters from $82.00 to $84.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. Finally, Bank of America increased their price objective on shares of Urban Outfitters from $90.00 to $93.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Urban Outfitters has an average rating of "Moderate Buy" and an average price target of $81.91.

Urban Outfitters Company 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.

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