DAVENPORT & Co LLC Acquires Shares of 4,798 Urban Outfitters, Inc. $URBN

DAVENPORT & Co LLC acquired a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,798 shares of the apparel retailer's stock, valued at approximately $348,000.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Urban Outfitters by 313.4% during the first quarter. SG Americas Securities LLC now owns 23,342 shares of the apparel retailer's stock valued at $1,223,000 after purchasing an additional 17,696 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Urban Outfitters during the first quarter valued at approximately $241,000. Exchange Traded Concepts LLC acquired a new stake in Urban Outfitters during the first quarter valued at approximately $52,000. Janney Montgomery Scott LLC acquired a new stake in Urban Outfitters during the first quarter valued at approximately $1,094,000. Finally, GAMMA Investing LLC boosted its holdings in Urban Outfitters by 34.7% during the first quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock valued at $54,000 after purchasing an additional 263 shares in the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Urban Outfitters Price Performance

URBN stock opened at $68.34 on Monday. The company has a 50 day moving average price of $73.10 and a 200 day moving average price of $66.65. Urban Outfitters, Inc. has a fifty-two week low of $34.76 and a fifty-two week high of $80.71. The stock has a market capitalization of $6.13 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 1.07 and a beta of 1.26.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The apparel retailer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.14. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same quarter in the previous year, the company posted $1.24 EPS. Urban Outfitters's revenue was up 11.3% on a year-over-year basis. As a group, equities 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 Urban Outfitters news, Director Mary Egan sold 1,000 shares of Urban Outfitters stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the completion of the sale, the director owned 14,250 shares of the company's stock, valued at approximately $999,210. The trade was a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tricia D. Smith sold 3,400 shares of Urban Outfitters stock in a transaction on Tuesday, October 7th. The stock was 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 $703,072.29. This represents a 25.23% decrease in their position. The disclosure for this sale can be found here. Insiders own 31.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on URBN shares. JPMorgan Chase & Co. lifted their target price on shares of Urban Outfitters from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Bank of America lifted their target price on shares of Urban Outfitters from $90.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, August 28th. Wells Fargo & Company lifted their target price on shares of Urban Outfitters from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note 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. Finally, Morgan Stanley lifted their target price on shares of Urban Outfitters from $82.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, August 28th. Two equities 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $81.91.

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.

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