Summary: Richard A. Hayne, who serves as both chief executive officer and chairman of Urban Outfitters Inc (NASDAQ:URBN), completed a series of stock sales on February 19 and 20, 2026, disposing of 23,652 common shares for proceeds totaling $1.74 million. The transactions, disclosed on a Form 4 filing with the Securities and Exchange Commission, came as the shares had dropped roughly 8% over the preceding week and were trading at $65.90 at the time reported.
Details of the transactions
According to the filing, on February 19 Hayne directly sold 2,497 shares at a weighted average price of $70.101. That same day, an additional 2,185 shares that are indirectly held by his spouse as trustee were also sold at the same weighted average price of $70.101.
On February 20 the filing shows multiple tranches: Hayne directly sold 9,120 shares and 7,980 shares held indirectly by his spouse as trustee, both at a weighted average price of $70.398. The filing also records sales of 1,547 directly held shares and 1,353 indirectly held shares at a weighted average price of $71.072. In total, the 23,652 shares moved in these transactions generated proceeds of $1.74 million.
Post-transaction holdings
After the reported sales, Hayne is shown as directly owning 17,449,385 shares, with an additional 1,933,859 shares held indirectly by his spouse as trustee.
Valuation and market context
Market commentary included in the filing notes that InvestingPro analysis regards the $5.9 billion retailer as undervalued, pointing to a price-to-earnings ratio of 12.43 ahead of the company’s earnings report scheduled for the next day. Despite that assessment, the company’s share price had declined nearly 8% over the previous week and was trading at $65.90 at the time of reporting.
Recent operating results and analyst coverage
Urban Outfitters reported a 9% increase in total net sales for the holiday period ending December 31, 2025, compared with the same period in 2024. The Retail segment’s net sales rose 7%, with comparable sales up 5%, driven by gains in both digital channels and physical store sales. The filing notes that these holiday sales were record-setting, yet the stock experienced a decline despite the results.
The company also released its earnings report for the third quarter of fiscal 2025, though the initial filing did not disclose specific financial details. In terms of analyst coverage, UBS retained its Neutral rating on Urban Outfitters with a $80 price target, suggesting roughly 12% upside from the then-current levels, and highlighted the strength of the Anthropologie, Free People, and Nuuly brands. Goldman Sachs initiated coverage with a Neutral rating and a $83 price target, citing solid market positioning and brand momentum within specialty retail.
What this means: The Form 4 filing documents a significant insider sale by the CEO conducted over two consecutive days at weighted average prices between $70.101 and $71.072. The sales took place against a backdrop of strong holiday sales performance for the company and recent analyst ratings that are neutral but view potential upside to the stock’s valuation. An upcoming earnings report is noted in the filing as a near-term event market participants will watch.