Deutsche Bank AG Acquires Shares of 63,217 Urban Outfitters, Inc. $URBN

Key Points

• Deutsche Bank acquired 63,217 shares of Urban Outfitters during the second quarter, valued at approximately $4.48 million and representing a 0.07% stake.
• Several other institutions also initiated positions, including Bank of New York Mellon’s roughly $26.3 million investment. Institutional investors collectively own 77.61% of Urban Outfitters.
• Urban Outfitters shares opened at $75.78, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $89.73.

Deutsche Bank AG bought a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 63,217 shares of the apparel retailer's stock, valued at approximately $4,480,000. Deutsche Bank AG owned 0.07% of Urban Outfitters as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of URBN. Chase Investment Counsel Corp bought a new position in Urban Outfitters in the 2nd quarter worth approximately $4,769,000. HBK Sorce Advisory LLC bought a new stake in Urban Outfitters during the 2nd quarter valued at $220,000. Global Retirement Partners LLC bought a new stake in Urban Outfitters during the 2nd quarter valued at $182,000. Bank of New York Mellon Corp purchased a new stake in shares of Urban Outfitters during the second quarter worth $26,280,000. Finally, Summit Global Investments bought a new position in shares of Urban Outfitters in the second quarter worth $282,000. Institutional investors own 77.61% of the company's stock.

Urban Outfitters Price Performance

Shares of NASDAQ:URBN opened at $75.78 on Wednesday. The company's fifty day moving average price is $73.69 and its 200-day moving average price is $70.64. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.41 and a beta of 1.23. Urban Outfitters, Inc. has a one year low of $59.53 and a one year high of $84.35.

Wall Street Analyst Weigh In

URBN has been the topic of a number of analyst reports. Wall Street Zen upgraded Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Sunday. Jefferies Financial Group lifted their target price on Urban Outfitters from $72.00 to $79.00 and gave the company a "hold" rating in a report on Wednesday, August 12th. Zacks Research downgraded shares of Urban Outfitters from a "strong-buy" rating to a "hold" rating in a report on Friday, August 14th. The Goldman Sachs Group upgraded shares of Urban Outfitters from a "neutral" rating to a "buy" rating and raised their price objective for the company from $76.00 to $93.00 in a research report on Monday, July 20th. Finally, Barclays decreased their target price on shares of Urban Outfitters from $102.00 to $100.00 and set an "overweight" rating on the stock in a report on Friday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.73.

Urban Outfitters Profile

Urban Outfitters, Inc is a global lifestyle retailer headquartered in Philadelphia, Pennsylvania. Established in 1970 by Richard Hayne, Scott Belair and Judy Wicks, the company began as a single store catering to college students in the city's historic Old City neighborhood. Over the decades, Urban Outfitters has expanded its reach and diversified its portfolio to include multiple retail concepts addressing distinct customer segments.

The company operates through several well-known brands, each offering a curated selection of apparel, footwear, accessories and home goods.

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