Geode Capital Management LLC Sells 249,650 Shares of Under Armour, Inc. (NYSE:UAA)

Geode Capital Management LLC trimmed its stake in shares of Under Armour, Inc. (NYSE:UAA - Free Report) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,881,081 shares of the company's stock after selling 249,650 shares during the quarter. Geode Capital Management LLC owned approximately 0.67% of Under Armour worth $25,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. boosted its position in Under Armour by 163.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,900 shares of the company's stock worth $26,000 after buying an additional 1,800 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Under Armour in the third quarter valued at approximately $56,000. CWM LLC boosted its stake in Under Armour by 20.7% during the third quarter. CWM LLC now owns 8,211 shares of the company's stock worth $73,000 after acquiring an additional 1,409 shares in the last quarter. City State Bank increased its position in Under Armour by 292.6% in the 3rd quarter. City State Bank now owns 10,063 shares of the company's stock valued at $90,000 after buying an additional 7,500 shares in the last quarter. Finally, Baker Avenue Asset Management LP bought a new position in shares of Under Armour in the 3rd quarter worth $92,000. Institutional investors own 34.58% of the company's stock.

Insider Transactions at Under Armour

In other news, CFO David Bergman sold 30,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $9.09, for a total value of $272,700.00. Following the completion of the transaction, the chief financial officer now directly owns 494,210 shares in the company, valued at approximately $4,492,368.90. This represents a 5.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mehri Shadman sold 17,240 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $8.76, for a total value of $151,022.40. Following the transaction, the insider now owns 182,538 shares in the company, valued at $1,599,032.88. This trade represents a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,879 shares of company stock valued at $508,642. 15.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Telsey Advisory Group reiterated a "market perform" rating and set a $10.00 price target on shares of Under Armour in a research note on Friday, December 13th. UBS Group increased their price target on Under Armour from $12.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, November 8th. TD Cowen lifted their price objective on shares of Under Armour from $10.00 to $11.00 and gave the stock a "hold" rating in a report on Friday, December 13th. Wells Fargo & Company increased their target price on shares of Under Armour from $8.00 to $11.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. Finally, Barclays cut their price target on shares of Under Armour from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $9.28.

Under Armour Price Performance

NYSE UAA traded down $0.07 during trading on Friday, reaching $8.38. The company's stock had a trading volume of 4,958,118 shares, compared to its average volume of 10,125,314. The firm has a fifty day moving average of $9.26 and a 200 day moving average of $8.15. Under Armour, Inc. has a one year low of $6.17 and a one year high of $11.89. The stock has a market capitalization of $3.62 billion, a PE ratio of -279.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.18 and a quick ratio of 1.24.

About Under Armour

Under Armour, Inc, together with its subsidiaries, engages developing, marketing, and distributing performance apparel, footwear, and accessories for men, women, and youth. The company provides its apparel in compression, fitted, and loose fit types. It also offers footwear products for running, training, basketball, cleated sports, recovery, and outdoor applications.