Urban Outfitters, Inc. $URBN Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 28.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,940 shares of the apparel retailer’s stock after selling 21,457 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of Urban Outfitters worth $3,853,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Norges Bank bought a new position in Urban Outfitters during the 2nd quarter worth $55,429,000. Qube Research & Technologies Ltd raised its stake in shares of Urban Outfitters by 59.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,287,096 shares of the apparel retailer’s stock valued at $93,366,000 after purchasing an additional 477,909 shares in the last quarter. Marshall Wace LLP raised its stake in shares of 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 purchasing an additional 371,058 shares in the last quarter. Junto Capital Management LP boosted its holdings in shares of Urban Outfitters by 16.5% in the first quarter. Junto Capital Management LP now owns 1,728,447 shares of the apparel retailer’s stock valued at $90,571,000 after acquiring an additional 244,801 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Urban Outfitters during the 2nd quarter valued at $17,279,000. Institutional investors own 77.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays raised their target price on shares of Urban Outfitters from $89.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Robert W. Baird set a $93.00 target price on Urban Outfitters in a report on Wednesday, December 17th. JPMorgan Chase & Co. lifted their target price on Urban Outfitters from $89.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Wall Street Zen raised Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Bank of America increased their target price on shares of Urban Outfitters from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $86.50.

Urban Outfitters Stock Down 1.5%

Shares of Urban Outfitters stock opened at $80.12 on Tuesday. The stock has a market capitalization of $7.19 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. Urban Outfitters, Inc. has a 12-month low of $41.89 and a 12-month high of $83.94. The company has a 50-day simple moving average of $70.09 and a 200 day simple moving average of $71.63.

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

Insiders Place Their Bets

In other news, insider Margaret Hayne sold 9,333 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $82.53, for a total transaction of $770,252.49. Following the completion of the sale, the insider owned 2,290,727 shares of the company’s stock, valued at $189,053,699.31. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard A. Hayne sold 10,667 shares of Urban Outfitters stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $82.53, for a total value of $880,347.51. Following the completion of the sale, the chief executive officer directly owned 17,857,267 shares in the company, valued at $1,473,760,245.51. This represents a 0.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 232,733 shares of company stock valued at $17,863,752 in the last ninety days. Company insiders own 31.80% of the company’s stock.

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.