Urban Outfitters, Inc. $URBN Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Urban Outfitters by 0.7%, owning 885,658 shares valued at approximately $46.4 million after selling 5,951 shares in the last quarter.
• Various institutional investors have made significant adjustments to their holdings, with Whipplewood Advisors LLC increasing their position by 2,893.8% and Federated Hermes Inc. raising their stake by 17,175.0%.
• Urban Outfitters reported earnings per share of $1.16 in its latest quarter, surpassing estimates by 35 cents, and experienced a 10.7% increase in revenue year-over-year.

T. Rowe Price Investment Management Inc. decreased its position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 885,658 shares of the apparel retailer's stock after selling 5,951 shares during the quarter. T. Rowe Price Investment Management Inc. owned 0.96% of Urban Outfitters worth $46,409,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of URBN. Whipplewood Advisors LLC boosted its stake in shares of Urban Outfitters by 2,893.8% during the 1st quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock worth $25,000 after acquiring an additional 463 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Urban Outfitters by 17,175.0% during the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock worth $36,000 after purchasing an additional 687 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Urban Outfitters during the 1st quarter worth approximately $52,000. GAMMA Investing LLC raised its position 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. Finally, US Bancorp DE raised its position in shares of Urban Outfitters by 16.4% during the 1st quarter. US Bancorp DE now owns 1,855 shares of the apparel retailer's stock worth $97,000 after purchasing an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 77.61% of the company's stock.

Analyst Ratings Changes

URBN has been the subject of several research reports. Wells Fargo & Company restated an "equal weight" rating on shares of Urban Outfitters in a research report on Thursday, May 22nd. Wall Street Zen downgraded Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group lifted their price objective on Urban Outfitters from $75.00 to $78.00 and gave the stock a "neutral" rating in a research report on Tuesday. Jefferies Financial Group upgraded Urban Outfitters from an "underperform" rating to a "hold" rating and lifted their price objective for the stock from $50.00 to $70.00 in a research report on Friday, June 6th. Finally, Barclays boosted their price target on Urban Outfitters from $59.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $77.27.

Urban Outfitters Stock Performance

Shares of URBN opened at $76.98 on Friday. The stock has a fifty day moving average of $73.71 and a two-hundred day moving average of $62.31. The company has a market capitalization of $6.90 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. Urban Outfitters, Inc. has a fifty-two week low of $33.86 and a fifty-two week high of $80.71.

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

Insider Buying and Selling at Urban Outfitters

In other news, insider Azeez Hayne sold 12,856 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $73.00, for a total transaction of $938,488.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Margaret Hayne sold 80,000 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $72.59, for a total value of $5,807,200.00. Following the sale, the insider owned 100 shares of the company's stock, valued at approximately $7,259. The trade was a 99.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,156 shares of company stock worth $11,636,158. 31.60% of the stock is currently owned by company 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.

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