Principal Financial Group Inc. Sells 191,418 Shares of Under Armour, Inc. (NYSE:UAA)

Principal Financial Group Inc. trimmed its stake in shares of Under Armour, Inc. (NYSE:UAA - Free Report) by 30.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 437,584 shares of the company's stock after selling 191,418 shares during the quarter. Principal Financial Group Inc. owned approximately 0.10% of Under Armour worth $3,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its holdings in Under Armour by 144,746.6% during the 3rd quarter. FMR LLC now owns 9,659,823 shares of the company's stock worth $86,069,000 after acquiring an additional 9,653,154 shares during the period. Pacer Advisors Inc. boosted its position in shares of Under Armour by 33,725.1% during the 3rd quarter. Pacer Advisors Inc. now owns 9,598,890 shares of the company's stock valued at $85,526,000 after purchasing an additional 9,570,512 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Under Armour by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 9,351,829 shares of the company's stock worth $62,376,000 after purchasing an additional 1,051,143 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Under Armour by 6.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 5,740,622 shares of the company's stock worth $51,149,000 after purchasing an additional 327,979 shares in the last quarter. Finally, Maven Securities LTD lifted its stake in Under Armour by 11.8% in the second quarter. Maven Securities LTD now owns 1,341,798 shares of the company's stock valued at $8,950,000 after buying an additional 141,556 shares during the period. 34.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UAA. UBS Group raised their price objective on shares of Under Armour from $12.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Truist Financial raised their price target on shares of Under Armour from $8.00 to $11.00 and gave the stock a "hold" rating in a report on Friday, November 8th. TD Cowen upped their price objective on shares of Under Armour from $10.00 to $11.00 and gave the company a "hold" rating in a report on Friday, December 13th. Needham & Company LLC restated a "hold" rating on shares of Under Armour in a research note on Friday, December 13th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $10.00 price target on shares of Under Armour in a research note on Friday, December 13th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.28.

Under Armour Stock Performance

Shares of Under Armour stock traded up $0.26 during mid-day trading on Friday, hitting $8.36. 7,199,555 shares of the stock were exchanged, compared to its average volume of 6,838,777. Under Armour, Inc. has a 12 month low of $6.17 and a 12 month high of $11.89. The company has a 50-day simple moving average of $9.20 and a 200 day simple moving average of $8.20. The company has a market capitalization of $3.61 billion, a P/E ratio of -278.57 and a beta of 1.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 2.18.

Insider Buying and Selling

In related news, insider Mehri Shadman sold 9,639 shares of Under Armour stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $8.81, for a total value of $84,919.59. Following the sale, the insider now owns 172,899 shares of the company's stock, valued at approximately $1,523,240.19. The trade was a 5.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Bergman sold 30,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were 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 owns 494,210 shares in the company, valued at approximately $4,492,368.90. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,879 shares of company stock worth $508,642. 15.60% of the stock is owned by company insiders.

Under Armour Company Profile

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.