Urban Outfitters, Inc. $URBN Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in Urban Outfitters, Inc. (NASDAQ:URBN) by 45.9% in the first quarter, Holdings Channel reports. The fund owned 268,600 shares of the apparel retailer’s stock after selling 227,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Urban Outfitters were worth $17,016,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Abrams Bison Investments LLC acquired a new position in shares of Urban Outfitters during the fourth quarter worth $127,114,000. Balyasny Asset Management L.P. grew its holdings in Urban Outfitters by 5,360.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 618,152 shares of the apparel retailer’s stock valued at $44,155,000 after purchasing an additional 606,831 shares in the last quarter. Norges Bank purchased a new stake in Urban Outfitters during the 4th quarter worth $44,191,000. UBS Group AG increased its stake in Urban Outfitters by 339.3% during the 4th quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock worth $48,276,000 after buying an additional 495,441 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Urban Outfitters by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,313,938 shares of the apparel retailer’s stock worth $273,274,000 after buying an additional 338,622 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and raised their target price for the company from $76.00 to $93.00 in a research note on Monday, July 20th. Barclays cut their price target on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, May 22nd. Bank of America raised their price objective on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Zacks Research upgraded Urban Outfitters from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen raised Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Urban Outfitters currently has an average rating of “Moderate Buy” and a consensus price target of $87.91.

Urban Outfitters Price Performance

URBN stock opened at $75.74 on Friday. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.39 and a beta of 1.22. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35. The firm has a fifty day moving average price of $72.74 and a two-hundred day moving average price of $69.90.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.18. Urban Outfitters had a net margin of 7.48% and a return on equity of 18.92%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the firm posted $1.16 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts expect that Urban Outfitters, Inc. will post 6.13 EPS for the current fiscal year.

Insider Activity at Urban Outfitters

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

About Urban Outfitters

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.