Panagora Asset Management Inc. Buys 18,498 Shares of Urban Outfitters, Inc. $URBN

Panagora Asset Management Inc. boosted its stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,918 shares of the apparel retailer’s stock after purchasing an additional 18,498 shares during the quarter. Panagora Asset Management Inc.’s holdings in Urban Outfitters were worth $29,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC boosted its position in Urban Outfitters by 58.4% during the fourth quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 149 shares in the last quarter. GAMMA Investing LLC boosted its position in Urban Outfitters by 8.0% during the fourth quarter. GAMMA Investing LLC now owns 2,088 shares of the apparel retailer’s stock valued at $157,000 after purchasing an additional 154 shares in the last quarter. Oliver Luxxe Assets LLC boosted its position in Urban Outfitters by 0.5% during the fourth quarter. Oliver Luxxe Assets LLC now owns 33,774 shares of the apparel retailer’s stock valued at $2,542,000 after purchasing an additional 181 shares in the last quarter. Lido Advisors LLC boosted its position in Urban Outfitters by 2.7% during the fourth quarter. Lido Advisors LLC now owns 7,367 shares of the apparel retailer’s stock valued at $533,000 after purchasing an additional 193 shares in the last quarter. Finally, Spire Wealth Management boosted its position in Urban Outfitters by 83.3% during the fourth quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 77.61% of the company’s stock.

Insider Transactions at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 5,036 shares of the 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 completion of the sale, the chief financial officer directly owned 17,023 shares in the company, valued at approximately $1,249,828.66. This trade represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Azeez Hayne sold 8,733 shares of the stock in a transaction dated Friday, May 22nd. The shares were 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. Company insiders own 32.10% of the company’s stock.

Analysts Set New Price Targets

URBN has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $72.00 price objective on shares of Urban Outfitters in a research report on Thursday, May 21st. Wall Street Zen raised Urban Outfitters from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. raised their price objective on Urban Outfitters from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Finally, Bank of America raised their price objective on Urban Outfitters from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.18.

Urban Outfitters Stock Performance

Urban Outfitters stock opened at $77.01 on Tuesday. The stock has a 50-day moving average of $71.25 and a two-hundred day moving average of $71.35. Urban Outfitters, Inc. has a one year low of $59.53 and a one year high of $84.35. The stock has a market cap of $6.60 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 1.45 and a beta of 1.22.

Urban Outfitters (NASDAQ:URBN) last released its quarterly earnings results on Thursday, May 21st. The apparel retailer reported $1.30 EPS for the quarter, beating 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 company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the business posted $1.16 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that Urban Outfitters, Inc. will post 6.01 EPS for the current fiscal year.

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.