5,929 Shares in Urban Outfitters, Inc. (NASDAQ:URBN) Acquired by Cibc World Markets Corp

Cibc World Markets Corp bought a new stake in shares of Urban Outfitters, Inc. (NASDAQ:URBN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,929 shares of the apparel retailer’s stock, valued at approximately $325,000.

Several other hedge funds have also recently added to or reduced their stakes in URBN. Proficio Capital Partners LLC boosted its position in Urban Outfitters by 5,565.6% during the fourth quarter. Proficio Capital Partners LLC now owns 875,336 shares of the apparel retailer’s stock valued at $48,038,000 after acquiring an additional 859,886 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Urban Outfitters during the 4th quarter valued at about $21,140,000. Cerity Partners LLC acquired a new stake in Urban Outfitters during the third quarter worth approximately $8,340,000. Allspring Global Investments Holdings LLC increased its holdings in Urban Outfitters by 1,016.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 131,606 shares of the apparel retailer’s stock worth $7,223,000 after purchasing an additional 119,820 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Urban Outfitters by 5.6% in the fourth quarter. Fisher Asset Management LLC now owns 2,188,806 shares of the apparel retailer’s stock valued at $120,122,000 after buying an additional 115,390 shares during the period. Institutional investors own 77.61% of the company’s stock.

Insider Transactions at Urban Outfitters

In other news, Director Harry S. Cherken, Jr. sold 15,000 shares of Urban Outfitters stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $50.50, for a total transaction of $757,500.00. Following the sale, the director now directly owns 495,296 shares in the company, valued at $25,012,448. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Azeez Hayne sold 11,676 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $54.75, for a total transaction of $639,261.00. The disclosure for this sale can be found here. Insiders have sold 99,976 shares of company stock worth $5,573,263 in the last 90 days. Insiders own 31.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Urban Outfitters from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $63.00 in a research note on Tuesday, January 21st. Telsey Advisory Group lifted their price target on shares of Urban Outfitters from $56.00 to $59.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th. Robert W. Baird increased their price objective on shares of Urban Outfitters from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on Urban Outfitters from $46.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, Citigroup upgraded Urban Outfitters from a “neutral” rating to a “buy” rating and increased their price target for the stock from $42.00 to $59.00 in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Urban Outfitters currently has an average rating of “Hold” and an average target price of $56.00.

Urban Outfitters Trading Up 9.1 %

NASDAQ URBN opened at $53.58 on Tuesday. The business has a fifty day simple moving average of $54.78 and a 200 day simple moving average of $47.24. Urban Outfitters, Inc. has a 12 month low of $33.86 and a 12 month high of $61.16. The firm has a market capitalization of $4.94 billion, a P/E ratio of 15.35, a PEG ratio of 1.02 and a beta of 1.56.

Urban Outfitters (NASDAQ:URBN) last announced its earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $0.89 by $0.15. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. As a group, sell-side analysts predict that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

About Urban Outfitters

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.