Urban Outfitters (NASDAQ:URBN) CEO Sells $751,596.82 in Stock

Key Points

• Urban Outfitters CEO Richard Hayne sold 10,667 shares of stock for approximately $751,596.82, decreasing his ownership by 0.06% while retaining around 18 million shares valued at over $1.27 billion.
• The company's stock price fell 1.6% to $67.92 following the sale, with an average trading volume of over 2 million shares.
• Despite fluctuations in stock price, analysts maintain a moderate buy rating, with a consensus price target of $81.91 amid expected earnings growth for the current fiscal year.

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report) CEO Richard Hayne sold 10,667 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $70.46, for a total transaction of $751,596.82. Following the sale, the chief executive officer owned 18,027,939 shares in the company, valued at approximately $1,270,248,581.94. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Urban Outfitters Stock Down 1.6%

Urban Outfitters stock traded down $1.10 during mid-day trading on Tuesday, reaching $67.92. 2,162,253 shares of the company's stock were exchanged, compared to its average volume of 2,089,721. The company has a market cap of $6.09 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.07 and a beta of 1.26. Urban Outfitters, Inc. has a twelve month low of $34.76 and a twelve month high of $80.71. The company has a fifty day moving average of $72.90 and a 200-day moving average of $66.77.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of URBN. GAMMA Investing LLC grew its position in 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. SG Americas Securities LLC grew its position in Urban Outfitters by 313.4% during the 1st quarter. SG Americas Securities LLC now owns 23,342 shares of the apparel retailer's stock worth $1,223,000 after purchasing an additional 17,696 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Urban Outfitters during the 1st quarter worth $52,000. Janney Montgomery Scott LLC purchased a new position in Urban Outfitters during the 1st quarter worth $1,094,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in Urban Outfitters during the 1st quarter worth $1,677,000. 77.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on URBN. Morgan Stanley raised their price objective on shares of Urban Outfitters from $82.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Wells Fargo & Company raised their price objective on shares of Urban Outfitters from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, August 28th. Citigroup restated a "neutral" rating and issued a $76.00 price objective (up from $75.00) on shares of Urban Outfitters in a report on Wednesday, August 20th. UBS Group raised their price objective on shares of Urban Outfitters from $78.00 to $79.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Finally, Zacks Research upgraded shares of Urban Outfitters from a "hold" rating to a "strong-buy" rating in a report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Urban Outfitters currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.91.

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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