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

Allspring Global Investments Holdings LLC trimmed its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 29.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,406 shares of the apparel retailer's stock after selling 38,200 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of Urban Outfitters worth $4,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC raised its holdings in shares of Urban Outfitters by 2,893.8% during the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after acquiring an additional 463 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in 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 stake in Urban Outfitters during the 1st quarter valued at $52,000. GAMMA Investing LLC raised its holdings in Urban Outfitters by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock valued at $54,000 after buying an additional 263 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Urban Outfitters by 315.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,482 shares of the apparel retailer's stock valued at $82,000 after buying an additional 1,125 shares during the period. 77.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Harry S. Cherken, Jr. sold 35,000 shares of the firm's stock in a transaction dated 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 $35,613,948.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kotzman Kelly Campbell sold 6,800 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $75.10, for a total value of $510,680.00. Following the sale, the director directly owned 4,750 shares in the company, valued at approximately $356,725. The trade was a 58.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,156 shares of company stock valued at $11,636,158. Company insiders own 31.60% of the company's stock.

Wall Street Analyst Weigh In

URBN has been the topic of several recent research reports. Barclays increased their price target on Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Bank of America increased their price target on Urban Outfitters from $70.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. BMO Capital Markets set a $76.00 price target on Urban Outfitters and gave the company a "market perform" rating in a report on Thursday, May 22nd. Robert W. Baird upgraded Urban Outfitters from a "neutral" rating to an "outperform" rating and increased their price target for the company from $75.00 to $90.00 in a report on Wednesday, June 11th. Finally, Baird R W upgraded Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $74.09.

Urban Outfitters Trading Down 0.1%

Shares of Urban Outfitters stock traded down $0.10 during trading on Friday, hitting $73.52. 612,060 shares of the stock traded hands, compared to its average volume of 1,996,212. The firm has a market cap of $6.59 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 1.24 and a beta of 1.44. Urban Outfitters, Inc. has a 52-week low of $33.86 and a 52-week high of $75.80. The stock's fifty day simple moving average is $65.58 and its 200 day simple moving average is $57.69.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, beating the consensus estimate of $0.81 by $0.35. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.29 billion. Urban Outfitters had a return on equity of 17.98% and a net margin of 7.91%. The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, equities analysts expect that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

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.