Panagora Asset Management Inc. Grows Stock Position in Urban Outfitters, Inc. $URBN

Key Points

• Panagora Asset Management Inc. increased its stake in Urban Outfitters by 5.7% to approximately $19.23 million, owning 367,013 shares as of the latest SEC filing.
• CEO Tricia D. Smith sold 4,500 shares at an average price of $70.52, representing a 25.03% reduction in her position, leaving her with 13,477 shares valued at about $950,398.
• Urban Outfitters reported a quarterly EPS of $1.58, surpassing analysts' expectations, along with an 11.3% increase in revenue year-over-year, totaling $1.50 billion.

Panagora Asset Management Inc. grew its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 5.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 367,013 shares of the apparel retailer's stock after acquiring an additional 19,934 shares during the quarter. Panagora Asset Management Inc. owned about 0.40% of Urban Outfitters worth $19,231,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GSA Capital Partners LLP raised its stake in Urban Outfitters by 2.0% during the first quarter. GSA Capital Partners LLP now owns 10,401 shares of the apparel retailer's stock valued at $545,000 after purchasing an additional 203 shares in the last quarter. Xponance Inc. raised its position in shares of Urban Outfitters by 4.9% during the 1st quarter. Xponance Inc. now owns 4,782 shares of the apparel retailer's stock valued at $251,000 after buying an additional 222 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Urban Outfitters by 1.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,288 shares of the apparel retailer's stock valued at $1,011,000 after buying an additional 228 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Urban Outfitters by 16.4% in the 1st quarter. US Bancorp DE now owns 1,855 shares of the apparel retailer's stock valued at $97,000 after acquiring an additional 262 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Urban Outfitters by 34.7% in the first quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock worth $54,000 after acquiring an additional 263 shares in the last quarter. Institutional investors own 77.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on URBN shares. Bank of America upped their price objective on Urban Outfitters from $90.00 to $93.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. Barclays restated an "overweight" rating and set a $89.00 price target on shares of Urban Outfitters in a report on Friday. BMO Capital Markets set a $76.00 price objective on shares of Urban Outfitters and gave the stock a "market perform" rating in a research note on Thursday, May 22nd. Citigroup reiterated a "neutral" rating and set a $76.00 price objective (up previously from $75.00) on shares of Urban Outfitters in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Urban Outfitters from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $81.91.

Insider Buying and Selling at Urban Outfitters

In other news, CEO Tricia D. Smith sold 4,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $70.52, for a total value of $317,340.00. Following the sale, the chief executive officer directly owned 13,477 shares in the company, valued at approximately $950,398.04. This trade represents a 25.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.80% of the company's stock.

Urban Outfitters Stock Performance

NASDAQ URBN traded up $0.53 on Tuesday, reaching $67.61. 2,880,657 shares of the stock traded hands, compared to its average volume of 2,041,407. Urban Outfitters, Inc. has a 12 month low of $33.86 and a 12 month high of $80.71. The company has a fifty day moving average price of $74.13 and a 200-day moving average price of $63.09. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.08 and a beta of 1.29.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its earnings results on Wednesday, August 27th. The apparel retailer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.14. Urban Outfitters had a net margin of 8.15% and a return on equity of 18.43%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $1.24 EPS. The company's revenue for the quarter was up 11.3% on a year-over-year basis. As a group, research analysts anticipate that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

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.