Meeder Asset Management Inc. Cuts Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Meeder Asset Management Inc. lowered its position in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 46.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,008 shares of the apparel retailer's stock after selling 5,219 shares during the period. Meeder Asset Management Inc.'s holdings in Urban Outfitters were worth $315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in URBN. Whipplewood Advisors LLC boosted its position in Urban Outfitters by 2,893.8% during the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after acquiring an additional 463 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Urban Outfitters in the 1st quarter worth approximately $52,000. GAMMA Investing LLC boosted its holdings in shares of Urban Outfitters by 34.7% during the 1st quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock worth $54,000 after purchasing an additional 263 shares during the last quarter. Covestor Ltd grew its position in shares of Urban Outfitters by 159.5% in the fourth quarter. Covestor Ltd now owns 2,753 shares of the apparel retailer's stock valued at $151,000 after purchasing an additional 1,692 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Urban Outfitters in the fourth quarter valued at approximately $173,000. Institutional investors and hedge funds own 77.61% of the company's stock.

Wall Street Analyst Weigh In

URBN has been the subject of a number of recent research reports. Bank of America raised their target price on Urban Outfitters from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird raised shares of Urban Outfitters from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $75.00 to $90.00 in a research note on Wednesday, June 11th. Telsey Advisory Group reissued a "market perform" rating and issued a $72.00 price target on shares of Urban Outfitters in a research note on Wednesday, June 11th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Finally, UBS Group raised their price objective on Urban Outfitters from $54.00 to $75.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

Urban Outfitters Price Performance

Shares of NASDAQ:URBN traded up $0.93 during trading on Friday, hitting $76.21. 2,036,002 shares of the company were exchanged, compared to its average volume of 1,623,481. The firm's 50 day moving average price is $71.87 and its 200-day moving average price is $60.12. Urban Outfitters, Inc. has a 12-month low of $33.86 and a 12-month high of $78.22. The stock has a market capitalization of $6.83 billion, a P/E ratio of 15.94, a PEG ratio of 1.30 and a beta of 1.44.

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

Insider Activity at Urban Outfitters

In other news, insider Azeez Hayne sold 12,856 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $73.00, for a total transaction of $938,488.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.