587,174 Shares in Urban Outfitters, Inc. $URBN Acquired by Norges Bank

Norges Bank purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 587,174 shares of the apparel retailer’s stock, valued at approximately $44,191,000. Norges Bank owned 0.65% of Urban Outfitters as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of URBN. Jupiter Asset Management Ltd. boosted its position in Urban Outfitters by 900.1% during the third quarter. Jupiter Asset Management Ltd. now owns 969,999 shares of the apparel retailer’s stock valued at $69,287,000 after purchasing an additional 873,008 shares during the last quarter. Capital World Investors acquired a new stake in Urban Outfitters during the third quarter valued at $60,795,000. Balyasny Asset Management L.P. boosted its position in Urban Outfitters by 5,360.2% during the third 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 during the last quarter. American Century Companies Inc. boosted its position in Urban Outfitters by 23.1% during the third quarter. American Century Companies Inc. now owns 2,879,092 shares of the apparel retailer’s stock valued at $205,654,000 after purchasing an additional 540,877 shares during the last quarter. Finally, UBS Group AG boosted its position in Urban Outfitters by 339.3% during the fourth quarter. UBS Group AG now owns 641,454 shares of the apparel retailer’s stock valued at $48,276,000 after purchasing an additional 495,441 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Analysts Set New Price Targets

URBN has been the subject of a number of research reports. Barclays reduced their price objective on Urban Outfitters from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, May 22nd. Bank of America lifted their target price on shares of Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. lifted their target price on shares of Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Wall Street Zen upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Urban Outfitters currently has an average rating of “Moderate Buy” and a consensus price target of $87.18.

Insider Activity

In related news, insider Azeez Hayne sold 8,733 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Melanie Marein-Efron sold 5,036 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $73.42, for a total value of $369,743.12. Following the transaction, the chief financial officer directly owned 17,023 shares of the company’s stock, valued at $1,249,828.66. This 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 insiders.

Urban Outfitters Trading Up 0.8%

Shares of Urban Outfitters stock opened at $71.88 on Tuesday. The firm has a fifty day simple moving average of $69.97 and a 200-day simple moving average of $70.91. Urban Outfitters, Inc. has a 1-year low of $59.53 and a 1-year high of $84.35. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.35 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings data on Thursday, May 21st. The apparel retailer reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, research analysts predict that Urban Outfitters, Inc. will post 5.97 earnings per share for the current year.

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.