Blueshift Asset Management LLC Makes New $551,000 Investment in Urban Outfitters, Inc. (NASDAQ:URBN)

Key Points

• Blueshift Asset Management LLC acquired 10,508 shares of Urban Outfitters, valued at approximately $551,000, during the 1st quarter, as reported to the SEC.
• Insider activity included significant sales, with Azeez Hayne selling 12,856 shares and Kelly Campbell selling 6,800 shares, indicating a decrease in insider ownership.
• Analysts raised the price target for Urban Outfitters, with Bank of America increasing it from $70 to $80, reflecting positive sentiment towards the stock.

Blueshift Asset Management LLC acquired a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,508 shares of the apparel retailer's stock, valued at approximately $551,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. US Bancorp DE grew its position in Urban Outfitters by 16.4% during the 1st quarter. US Bancorp DE now owns 1,855 shares of the apparel retailer's stock worth $97,000 after acquiring an additional 262 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Urban Outfitters by 55.3% during the first quarter. Natixis Advisors LLC now owns 23,976 shares of the apparel retailer's stock worth $1,256,000 after purchasing an additional 8,542 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Urban Outfitters during the 1st quarter worth about $442,000. Vestcor Inc acquired a new stake in Urban Outfitters in the 1st quarter valued at about $343,000. Finally, GSA Capital Partners LLP raised its stake in shares of Urban Outfitters by 2.0% in the first quarter. GSA Capital Partners LLP now owns 10,401 shares of the apparel retailer's stock worth $545,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company's stock.

Insider Activity at Urban Outfitters

In other Urban Outfitters news, insider Margaret Hayne sold 80,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $72.59, for a total value of $5,807,200.00. Following the completion of the sale, the insider owned 100 shares of the company's stock, valued at approximately $7,259. This trade represents a 99.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Melanie Marein-Efron sold 20,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $73.36, for a total transaction of $1,467,200.00. Following the sale, the chief financial officer directly owned 5,036 shares of the company's stock, valued at approximately $369,440.96. The trade was a 79.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,156 shares of company stock worth $11,636,158 in the last ninety days. Insiders own 31.80% of the company's stock.

Urban Outfitters Trading Up 3.8%

Shares of NASDAQ URBN traded up $2.93 during mid-day trading on Monday, hitting $79.14. The company had a trading volume of 1,678,762 shares, compared to its average volume of 1,725,288. The company has a market capitalization of $7.09 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.44. The firm has a 50-day simple moving average of $71.87 and a two-hundred day simple moving average of $60.20. Urban Outfitters, Inc. has a one year low of $33.86 and a one year high of $79.16.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The apparel retailer reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.35. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.29 billion. Urban Outfitters had a net margin of 7.91% and a return on equity of 17.98%. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 EPS. Sell-side analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Glj Research reissued a "sell" rating on shares of Urban Outfitters in a report on Thursday, May 22nd. UBS Group boosted their target price on Urban Outfitters from $54.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Wall Street Zen lowered Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Telsey Advisory Group reiterated a "market perform" rating and issued a $72.00 price objective on shares of Urban Outfitters in a research report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Urban Outfitters from $78.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Urban Outfitters currently has an average rating of "Moderate Buy" and an average price target of $75.00.

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.