Urban Outfitters, Inc. (NASDAQ:URBN) Shares Sold by Allspring Global Investments Holdings LLC

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whipplewood Advisors LLC increased its position 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 purchasing an additional 463 shares during the last quarter. Jones Financial Companies Lllp boosted 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 acquiring an additional 200 shares during the period. Exchange Traded Concepts LLC purchased a new position in Urban Outfitters during the 1st quarter valued at about $52,000. GAMMA Investing LLC boosted 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 acquiring an additional 263 shares during the period. Finally, Smartleaf Asset Management LLC boosted 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 acquiring an additional 1,125 shares during the period. 77.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on URBN shares. Baird R W upgraded Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. Telsey Advisory Group reiterated a "market perform" rating and issued a $72.00 price objective on shares of Urban Outfitters in a research note on Wednesday, June 11th. Bank of America lifted their price objective on Urban Outfitters from $70.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird upgraded Urban Outfitters from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $75.00 to $90.00 in a research note on Wednesday, June 11th. Finally, Jefferies Financial Group upgraded Urban Outfitters from an "underperform" rating to a "hold" rating and lifted their price objective for the company from $50.00 to $70.00 in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.09.

Urban Outfitters Stock Performance

NASDAQ URBN traded up $1.42 during trading hours on Wednesday, hitting $71.93. The company had a trading volume of 2,293,217 shares, compared to its average volume of 2,001,036. The company has a market cap of $6.45 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.44. Urban Outfitters, Inc. has a 1-year low of $33.86 and a 1-year high of $75.80. The business has a 50 day moving average of $66.66 and a 200-day moving average of $58.01.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping the consensus estimate of $0.81 by $0.35. The company 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 firm's revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. Sell-side analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Activity at Urban Outfitters

In other news, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Margaret Hayne sold 80,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $72.59, for a total value of $5,807,200.00. Following the completion of the transaction, the insider directly owned 100 shares in the company, valued at approximately $7,259. The trade was a 99.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,156 shares of company stock valued at $11,636,158 over the last 90 days. 31.60% of the stock is owned by insiders.

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.