Panagora Asset Management Inc. Grows Stock Position in Urban Outfitters, Inc. $URBN

Panagora Asset Management Inc. boosted its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 4.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 396,918 shares of the apparel retailer’s stock after buying an additional 18,498 shares during the period. Panagora Asset Management Inc. owned approximately 0.44% of Urban Outfitters worth $29,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new stake in Urban Outfitters during the 4th quarter valued at $27,000. Brown Brothers Harriman & Co. increased its stake in Urban Outfitters by 815.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 366 shares of the apparel retailer’s stock worth $28,000 after purchasing an additional 326 shares during the period. Salomon & Ludwin LLC increased its stake in Urban Outfitters by 58.4% in the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 149 shares during the period. Richardson Financial Services Inc. increased its stake in Urban Outfitters by 90.3% in the fourth quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer’s stock worth $33,000 after purchasing an additional 205 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Urban Outfitters in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Melanie Marein-Efron sold 5,036 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.42, for a total transaction of $369,743.12. Following the transaction, the chief financial officer owned 17,023 shares of the company’s stock, valued at approximately $1,249,828.66. This represents a 22.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Azeez Hayne sold 8,733 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $73.18, for a total value of $639,080.94. The SEC filing for this sale provides additional information. 32.10% of the stock is currently owned by corporate insiders.

Urban Outfitters Trading Up 0.0%

URBN opened at $77.01 on Tuesday. Urban Outfitters, Inc. has a 12-month low of $59.53 and a 12-month high of $84.35. The business’s fifty day simple moving average is $71.25 and its 200-day simple moving average is $71.35. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.45 and a beta of 1.22.

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 return on equity of 18.92% and a net margin of 7.48%.The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts predict that Urban Outfitters, Inc. will post 6.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays reduced their target price 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 increased their target price on Urban Outfitters from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $72.00 target price on shares of Urban Outfitters in a research note on Thursday, May 21st. Wells Fargo & Company reduced their target price on Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.18.

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.