Norges Bank Purchases Shares of 587,174 Urban Outfitters, Inc. $URBN

Norges Bank purchased a new stake in Urban Outfitters, Inc. (NASDAQ:URBN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 587,174 shares of the apparel retailer’s stock, valued at approximately $44,191,000.

Other large investors have also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. acquired a new position in Urban Outfitters in the 4th quarter valued at approximately $27,000. Salomon & Ludwin LLC raised its holdings in Urban Outfitters by 58.4% in the 4th quarter. Salomon & Ludwin LLC now owns 404 shares of the apparel retailer’s stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in Urban Outfitters by 90.3% in the 4th quarter. Richardson Financial Services Inc. now owns 432 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 205 shares in the last quarter. Spire Wealth Management raised its holdings in Urban Outfitters by 83.3% in the 4th quarter. Spire Wealth Management now owns 440 shares of the apparel retailer’s stock valued at $33,000 after acquiring an additional 200 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Urban Outfitters by 125.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 493 shares of the apparel retailer’s stock valued at $36,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

Wall Street Analysts Forecast Growth

URBN has been the subject of a number of recent research reports. Jefferies Financial Group restated a “hold” rating and issued a $72.00 price objective on shares of Urban Outfitters in a research note on Thursday, May 21st. Bank of America increased their price objective 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. Wells Fargo & Company dropped their price objective on shares of Urban Outfitters from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. increased their price objective 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. Finally, Wall Street Zen upgraded shares of Urban Outfitters from a “hold” rating to a “buy” rating in a research note on Saturday. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.18.

Insider Activity

In other Urban Outfitters news, insider Azeez Hayne sold 8,733 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Melanie Marein-Efron sold 5,036 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $73.42, for a total transaction of $369,743.12. Following the completion of the sale, the chief financial officer owned 17,023 shares of the company’s stock, valued at $1,249,828.66. The trade was a 22.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 32.10% of the company’s stock.

Urban Outfitters Price Performance

URBN stock opened at $71.88 on Tuesday. The business has a fifty day moving average price of $69.97 and a 200 day moving average price of $70.91. Urban Outfitters, Inc. has a fifty-two week low of $59.53 and a fifty-two week high of $84.35. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.35 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 earnings per share 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 firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm posted $1.16 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, equities analysts expect that Urban Outfitters, Inc. will post 5.97 earnings per share 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.