Urban Outfitters, Inc. $URBN Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S cut its stake in Urban Outfitters by 46.6% in the first quarter, selling 165,814 shares and ending with 189,933 shares worth about $12.0 million.
• Urban Outfitters reported better-than-expected Q1 earnings, posting EPS of $1.30 versus the $1.12 estimate, with revenue of $1.48 billion, up 11.4% year over year.
• Insider selling continued, with CFO Melanie Marein-Efron and insider Azeez Hayne both selling shares in May, while analysts currently rate the stock a Moderate Buy with an average price target of $87.18.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 46.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,933 shares of the apparel retailer's stock after selling 165,814 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.22% of Urban Outfitters worth $12,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Urban Outfitters by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,975,316 shares of the apparel retailer's stock valued at $299,183,000 after buying an additional 299,380 shares during the period. American Century Companies Inc. grew its holdings in Urban Outfitters by 23.1% during the third quarter. American Century Companies Inc. now owns 2,879,092 shares of the apparel retailer's stock worth $205,654,000 after acquiring an additional 540,877 shares during the period. Fisher Asset Management LLC grew its holdings in Urban Outfitters by 2.8% during the third quarter. Fisher Asset Management LLC now owns 1,847,922 shares of the apparel retailer's stock worth $131,997,000 after acquiring an additional 50,837 shares during the period. Abrams Bison Investments LLC bought a new stake in Urban Outfitters in the fourth quarter worth about $127,114,000. Finally, Geode Capital Management LLC raised its position in Urban Outfitters by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,507,027 shares of the apparel retailer's stock worth $113,434,000 after acquiring an additional 35,244 shares in the last quarter. 77.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the transaction, the chief financial officer owned 17,023 shares in the company, valued at $1,249,828.66. This represents a 22.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Azeez Hayne sold 8,733 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total transaction of $639,080.94. The disclosure for this sale is available in the SEC filing. 32.10% of the stock is currently owned by corporate insiders.

Urban Outfitters Price Performance

Shares of NASDAQ:URBN opened at $76.42 on Monday. The company's fifty day moving average is $72.00 and its two-hundred day moving average is $71.31. The company has a market cap of $6.54 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. Urban Outfitters, Inc. has a 12-month low of $59.53 and a 12-month high of $84.35.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last issued its earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, topping the consensus estimate of $1.12 by $0.18. Urban Outfitters had a return on equity of 18.92% and a net margin of 7.48%.The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter last year, the firm posted $1.16 earnings per share. Urban Outfitters's revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Urban Outfitters, Inc. will post 6.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on URBN. Jefferies Financial Group restated a "hold" rating and set a $72.00 price objective on shares of Urban Outfitters in a research report on Thursday, May 21st. Barclays dropped 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. Wells Fargo & Company cut their target price on shares of Urban Outfitters from $80.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, February 26th. Telsey Advisory Group restated an "outperform" rating and set a $98.00 target price on shares of Urban Outfitters in a report on Thursday, February 26th. Finally, Wall Street Zen lowered shares of Urban Outfitters from a "buy" rating to a "hold" rating in a research report on Saturday. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.18.

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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