Jennison Associates LLC Purchases Shares of 11,317 Urban Outfitters, Inc. $URBN

Jennison Associates LLC acquired a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 11,317 shares of the apparel retailer’s stock, valued at approximately $852,000.

Several other hedge funds also recently made changes to their positions in the business. Allianz Asset Management GmbH lifted its stake in Urban Outfitters by 316.5% during the third quarter. Allianz Asset Management GmbH now owns 187,660 shares of the apparel retailer’s stock valued at $13,405,000 after purchasing an additional 142,600 shares during the last quarter. Broad Peak Investment Advisers Pte Ltd acquired a new position in Urban Outfitters in the third quarter worth approximately $5,917,000. Optimize Financial Inc bought a new position in shares of Urban Outfitters in the third quarter valued at $602,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Urban Outfitters by 17.4% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 279,763 shares of the apparel retailer’s stock valued at $19,983,000 after buying an additional 41,559 shares in the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in shares of Urban Outfitters during the 3rd quarter valued at $4,104,000. Institutional investors and hedge funds own 77.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on URBN. Telsey Advisory Group reissued an “outperform” rating and set a $98.00 price objective on shares of Urban Outfitters in a research note on Thursday, February 26th. UBS Group reaffirmed a “neutral” rating on shares of Urban Outfitters in a research report on Tuesday, January 13th. Wells Fargo & Company reduced their target price on Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Wall Street Zen lowered Urban Outfitters from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Barclays lifted their price target on Urban Outfitters from $98.00 to $102.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.25.

Urban Outfitters Stock Performance

NASDAQ URBN opened at $69.01 on Monday. The firm’s 50 day moving average price is $66.68 and its two-hundred day moving average price is $69.76. Urban Outfitters, Inc. has a twelve month low of $51.12 and a twelve month high of $84.35. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.33 and a beta of 1.23.

Urban Outfitters (NASDAQ:URBN) last released its earnings results on Wednesday, February 25th. The apparel retailer reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.19. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.79 billion. Urban Outfitters had a return on equity of 18.96% and a net margin of 7.54%.The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. On average, research analysts forecast that Urban Outfitters, Inc. will post 5.84 EPS for the current fiscal year.

Insider Buying and Selling at Urban Outfitters

In related news, CEO Richard A. Hayne sold 10,667 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $70.50, for a total value of $752,023.50. Following the completion of the sale, the chief executive officer directly owned 17,449,385 shares of the company’s stock, valued at approximately $1,230,181,642.50. This represents a 0.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Margaret Hayne sold 9,333 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $71.13, for a total value of $663,856.29. Following the sale, the insider owned 1,987,950 shares of the company’s stock, valued at $141,402,883.50. The trade was a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,682 shares of company stock worth $4,629,408 over the last three months. 32.10% of the stock is owned by insiders.

Urban Outfitters 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.