575,895 Shares in Urban Outfitters, Inc. (NASDAQ:URBN) Acquired by Norges Bank

Norges Bank purchased a new position in shares of Urban Outfitters, Inc. (NASDAQ:URBN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 575,895 shares of the apparel retailer's stock, valued at approximately $31,605,000. Norges Bank owned about 0.62% of Urban Outfitters at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp grew its stake in Urban Outfitters by 1.1% during the 3rd 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 last quarter. Fisher Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 115,390 shares during the period. American Century Companies Inc. boosted its holdings in shares of Urban Outfitters by 9.0% in the fourth quarter. American Century Companies Inc. now owns 2,089,155 shares of the apparel retailer's stock valued at $114,653,000 after acquiring an additional 173,082 shares during the period. Geode Capital Management LLC raised its stake in shares of Urban Outfitters by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,481,469 shares of the apparel retailer's stock worth $56,765,000 after purchasing an additional 18,249 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Urban Outfitters by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,174,966 shares of the apparel retailer's stock worth $64,482,000 after purchasing an additional 60,697 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Urban Outfitters news, CEO Tricia D. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $53.94, for a total value of $539,400.00. Following the sale, the chief executive officer now owns 12,601 shares in the company, valued at approximately $679,697.94. This trade represents a 44.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry S. Cherken, Jr. sold 55,000 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $57.31, for a total transaction of $3,152,050.00. Following the completion of the sale, the director now owns 510,296 shares in the company, valued at $29,245,063.76. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,976 shares of company stock worth $5,573,263 over the last quarter. 31.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

URBN has been the subject of several research analyst reports. Robert W. Baird increased their price objective on 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. raised their price target on Urban Outfitters from $46.00 to $54.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 8th. Telsey Advisory Group raised their price target on Urban Outfitters from $56.00 to $59.00 and gave the stock a "market perform" rating in a research note on Thursday, February 27th. Citigroup decreased their price target on Urban Outfitters from $65.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, StockNews.com raised Urban Outfitters from a "hold" rating to a "buy" rating in a research note on Saturday, March 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $55.55.

Urban Outfitters Stock Performance

Shares of NASDAQ:URBN traded down $0.44 during mid-day trading on Thursday, hitting $50.01. 588,236 shares of the company traded hands, compared to its average volume of 2,196,458. The firm has a market cap of $4.63 billion, a P/E ratio of 14.33, a PEG ratio of 1.02 and a beta of 1.37. Urban Outfitters, Inc. has a 52-week low of $33.86 and a 52-week high of $61.16. The firm's 50 day simple moving average is $52.95 and its 200 day simple moving average is $48.40.

Urban Outfitters (NASDAQ:URBN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The apparel retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.15. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Urban Outfitters had a net margin of 6.11% and a return on equity of 15.86%. Equities research analysts expect 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.