Urban Outfitters (NASDAQ:URBN) Trading Down 5.4% After Insider Selling

Key Points

• Urban Outfitters stock fell 5.4% to $67.84 after insider director Mary Egan sold 1,000 shares, reducing her holdings by 6.56%.
• Several analysts have raised their target prices for Urban Outfitters, with Bank of America setting a target of $93.00 and BMO Capital Markets rating it as "market perform" at $76.00.
• The company's latest earnings showed a better-than-expected EPS of $1.58 and an 11.3% increase in revenue compared to the same quarter last year.

Urban Outfitters, Inc. (NASDAQ:URBN - Get Free Report) shares traded down 5.4% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $67.87 and last traded at $67.84. 834,300 shares changed hands during trading, a decline of 61% from the average session volume of 2,153,022 shares. The stock had previously closed at $71.70.

Specifically, Director Mary Egan sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $70.12, for a total transaction of $70,120.00. Following the completion of the sale, the director owned 14,250 shares in the company, valued at $999,210. This trade represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on URBN shares. JPMorgan Chase & Co. boosted their price target on shares of Urban Outfitters from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Morgan Stanley upped their target price on shares of Urban Outfitters from $82.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Wall Street Zen downgraded shares of Urban Outfitters from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised their price target on shares of Urban Outfitters from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 28th. Finally, Glj Research reaffirmed a "sell" rating on shares of Urban Outfitters in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Urban Outfitters has an average rating of "Hold" and a consensus price target of $81.91.

Urban Outfitters Stock Down 0.3%

The firm has a 50 day moving average price of $73.88 and a two-hundred day moving average price of $64.21. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.13 and a beta of 1.29.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings data 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. Urban Outfitters had a return on equity of 18.43% and a net margin of 8.15%.The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the business earned $1.24 EPS. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Urban Outfitters, Inc. will post 3.91 earnings per share for the current year.

Institutional Trading of Urban Outfitters

A number of institutional investors and hedge funds have recently made changes to their positions in URBN. Whipplewood Advisors LLC raised its holdings in shares of Urban Outfitters by 2,893.8% in the 1st 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. Hollencrest Capital Management bought a new position in shares of Urban Outfitters during the second quarter valued at approximately $26,000. Cullen Frost Bankers Inc. lifted its position in Urban Outfitters by 180.2% in the second quarter. Cullen Frost Bankers Inc. now owns 468 shares of the apparel retailer's stock worth $34,000 after purchasing an additional 301 shares during the period. Federated Hermes Inc. raised its stake in Urban Outfitters by 17,175.0% during the 1st quarter. Federated Hermes Inc. now owns 691 shares of the apparel retailer's stock valued at $36,000 after purchasing an additional 687 shares during the period. Finally, Kilter Group LLC bought a new position in Urban Outfitters during the second quarter worth about $36,000. 77.61% of the stock is currently owned by hedge funds and other institutional investors.

Urban Outfitters Company 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.