Wealthedge Investment Advisors LLC Acquires New Holdings in Urban Outfitters, Inc. (NASDAQ:URBN)

Key Points

• Wealthedge Investment Advisors LLC has acquired 6,498 shares of Urban Outfitters, Inc., valued at approximately $340,000.
• Analysts have mixed opinions on Urban Outfitters, with one upgrade to "strong-buy" and an average target price of $75.00.
• Insider trading activity shows significant selling, with insiders offloading 159,156 shares worth $11.6 million in the last quarter alone.

Wealthedge Investment Advisors LLC acquired a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,498 shares of the apparel retailer's stock, valued at approximately $340,000.

Other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC boosted its holdings in shares of Urban Outfitters by 2,893.8% in the first quarter. Whipplewood Advisors LLC now owns 479 shares of the apparel retailer's stock valued at $25,000 after buying an additional 463 shares during the period. Federated Hermes Inc. lifted its stake in Urban Outfitters by 17,175.0% in the first quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after acquiring an additional 687 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Urban Outfitters in the first quarter valued at $52,000. GAMMA Investing LLC lifted its stake in Urban Outfitters by 34.7% in the first quarter. GAMMA Investing LLC now owns 1,022 shares of the apparel retailer's stock valued at $54,000 after acquiring an additional 263 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Urban Outfitters by 16.4% in the first 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. Institutional investors and hedge funds own 77.61% of the company's stock.

Analysts Set New Price Targets

URBN has been the subject of a number of research reports. Baird R W upgraded shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. raised their target price on shares of Urban Outfitters from $78.00 to $88.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Wall Street Zen cut shares of Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company reiterated an "equal weight" rating on shares of Urban Outfitters in a research note on Thursday, May 22nd. Finally, Barclays lifted their price objective on shares of Urban Outfitters from $59.00 to $73.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Urban Outfitters has a consensus rating of "Moderate Buy" and an average target price of $75.00.

Insider Buying and Selling at Urban Outfitters

In related news, insider Azeez Hayne sold 12,856 shares of Urban Outfitters stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 SEC, which can be accessed through this link. Also, insider Margaret Hayne sold 80,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $72.59, for a total transaction of $5,807,200.00. Following the completion of the transaction, the insider owned 100 shares in the company, valued at $7,259. This trade represents a 99.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,156 shares of company stock worth $11,636,158 over the last quarter. Insiders own 31.60% of the company's stock.

Urban Outfitters Price Performance

NASDAQ:URBN opened at $77.29 on Friday. The firm's 50 day simple moving average is $72.94 and its 200 day simple moving average is $61.46. Urban Outfitters, Inc. has a one year low of $33.86 and a one year high of $80.71. The company has a market cap of $6.93 billion, a PE ratio of 16.17, a P/E/G ratio of 1.38 and a beta of 1.44.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its earnings results on Wednesday, May 21st. The apparel retailer reported $1.16 EPS for the quarter, topping 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 business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $0.69 EPS. The firm's revenue was up 10.7% compared to the same quarter last year. Equities research analysts expect that Urban Outfitters, Inc. will post 3.91 EPS for the current year.

Urban Outfitters Profile

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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