KLP Kapitalforvaltning AS Takes $708,000 Position in Urban Outfitters, Inc. (NASDAQ:URBN)

KLP Kapitalforvaltning AS acquired a new stake in Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,900 shares of the apparel retailer's stock, valued at approximately $708,000.

Several other large investors have also modified their holdings of URBN. Geode Capital Management LLC lifted its holdings in shares of Urban Outfitters by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer's stock worth $56,765,000 after acquiring an additional 18,249 shares during the last quarter. Friedenthal Financial acquired a new position in Urban Outfitters during the fourth quarter worth $765,000. Petrus Trust Company LTA acquired a new position in Urban Outfitters during the third quarter worth $642,000. State Street Corp boosted its position in shares of Urban Outfitters by 1.1% during the third quarter. State Street Corp now owns 2,799,366 shares of the apparel retailer's stock worth $107,244,000 after buying an additional 31,100 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of 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 valued at $7,223,000 after buying an additional 119,820 shares in the last quarter. Institutional investors and hedge funds own 77.61% of the company's stock.

Urban Outfitters Price Performance

Shares of NASDAQ URBN traded up $1.37 during midday trading on Friday, hitting $46.61. 5,682,796 shares of the company's stock were exchanged, compared to its average volume of 1,822,486. The firm's fifty day simple moving average is $53.81 and its 200-day simple moving average is $48.22. The company has a market cap of $4.30 billion, a PE ratio of 13.36, a P/E/G ratio of 1.02 and a beta of 1.37. Urban Outfitters, Inc. has a twelve month low of $33.86 and a twelve month high of $61.16.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.63 billion. Equities analysts anticipate that Urban Outfitters, Inc. will post 3.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Urban Outfitters from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Telsey Advisory Group lifted their price objective on shares of Urban Outfitters from $56.00 to $59.00 and gave the company a "market perform" rating in a report on Thursday, February 27th. Morgan Stanley upgraded shares of Urban Outfitters from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $41.00 to $63.00 in a report on Tuesday, January 21st. Robert W. Baird boosted their price target on shares of Urban Outfitters from $60.00 to $62.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Finally, Barclays increased their price objective on Urban Outfitters from $63.00 to $68.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $56.00.

Insider Activity at Urban Outfitters

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

Urban Outfitters Profile

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.