Allianz Asset Management GmbH Purchases 142,600 Shares of Urban Outfitters, Inc. $URBN

Allianz Asset Management GmbH lifted its position in Urban Outfitters, Inc. (NASDAQ:URBN) by 316.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 187,660 shares of the apparel retailer’s stock after buying an additional 142,600 shares during the period. Allianz Asset Management GmbH’s holdings in Urban Outfitters were worth $13,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in Urban Outfitters by 0.7% in the second quarter. American Century Companies Inc. now owns 2,338,215 shares of the apparel retailer’s stock valued at $169,614,000 after acquiring an additional 15,689 shares during the period. Geode Capital Management LLC increased its position in shares of Urban Outfitters by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,525,150 shares of the apparel retailer’s stock valued at $110,646,000 after purchasing an additional 12,965 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of Urban Outfitters by 59.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,287,096 shares of the apparel retailer’s stock worth $93,366,000 after purchasing an additional 477,909 shares during the period. Norges Bank purchased a new position in shares of Urban Outfitters in the second quarter worth approximately $55,429,000. Finally, Marshall Wace LLP grew its position in Urban Outfitters by 150.5% during the second quarter. Marshall Wace LLP now owns 617,527 shares of the apparel retailer’s stock valued at $44,795,000 after buying an additional 371,058 shares during the period. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Stock Up 1.8%

NASDAQ:URBN opened at $72.47 on Friday. The business’s 50-day simple moving average is $75.51 and its two-hundred day simple moving average is $72.32. Urban Outfitters, Inc. has a 52 week low of $41.89 and a 52 week high of $84.35. The stock has a market cap of $6.50 billion, a PE ratio of 13.67, a P/E/G ratio of 1.00 and a beta of 1.24.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Wednesday, December 10th. The apparel retailer reported $1.28 earnings per share (EPS) for the quarter. Urban Outfitters had a return on equity of 18.33% and a net margin of 8.15%.The firm had revenue of $1.53 billion during the quarter. Sell-side analysts anticipate that Urban Outfitters, Inc. will post 3.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard A. Hayne sold 10,667 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $73.43, for a total value of $783,277.81. Following the completion of the transaction, the chief executive officer directly owned 17,553,877 shares of the company’s stock, valued at approximately $1,288,981,188.11. This trade represents a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Margaret Hayne sold 9,333 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $73.43, for a total transaction of $685,322.19. Following the completion of the transaction, the insider directly owned 2,025,282 shares of the company’s stock, valued at approximately $148,716,457.26. The trade was a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 578,168 shares of company stock worth $43,902,856. Corporate insiders own 31.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on URBN shares. JPMorgan Chase & Co. decreased their price target on shares of Urban Outfitters from $96.00 to $94.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Urban Outfitters in a research note on Monday, December 29th. Guggenheim initiated coverage on Urban Outfitters in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. Barclays boosted their price target on Urban Outfitters from $98.00 to $102.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, Wells Fargo & Company raised their price objective on Urban Outfitters from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 26th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $86.67.

Urban Outfitters Company Profile

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.