SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 15% Stake in Under Armour Class A Common Stock

FMR LLC and its Chairman and CEO, Abigail P. Johnson, have filed an amended Schedule 13G, revealing beneficial ownership of 15.0% of Under Armour Inc.'s Class A Common Stock as of December 31, 2024.

Summary

• FMR LLC and Abigail P. Johnson collectively beneficially own 28,317,948.50 shares of Under Armour Inc.'s Class A Common Stock.
• This aggregate ownership represents 15.0% of the total outstanding Class A Common Stock.
• FMR LLC holds sole voting power over 27,697,298.34 shares and sole dispositive power over 28,317,948.50 shares.
• Abigail P. Johnson, through her role and ownership in FMR LLC, is deemed to have sole dispositive power over the same 28,317,948.50 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Under Armour Inc.
• Fidelity Blue Chip Growth Fund, a subsidiary of FMR LLC, is known to hold 13,513,300.00 shares, accounting for 7.2% of the total outstanding Class A Common Stock as of December 31, 2024.
• Other relevant entities under FMR LLC include FIAM LLC, Fidelity Institutional Asset Management Trust Company, Fidelity Management & Research Company LLC, Fidelity Management Trust Company, and Strategic Advisers LLC.

Sentiment

Score: 7

Explanation: The disclosure of a substantial 15% stake by a reputable asset manager like FMR LLC in Under Armour Inc. is generally viewed positively, indicating institutional confidence in the company's long-term prospects, especially given the stated purpose of holding in the ordinary course of business.

Positives

• The disclosure of a significant 15.0% stake by a major institutional investor like FMR LLC and its leadership can signal strong institutional confidence in Under Armour Inc.
• The holding is stated to be in the ordinary course of business, suggesting a long-term investment perspective rather than an activist stance.

Risks

• The concentration of a significant portion of Class A Common Stock (15.0%) in a single institutional holder and its affiliates could potentially influence market dynamics related to the stock.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding Under Armour Inc.'s future performance or strategic direction.

Industry Context

This filing reflects a significant ownership stake by a major asset management firm in a prominent athletic apparel and footwear company. Such institutional holdings are common in the consumer discretionary sector, indicating investor interest in established brands.

Stakeholder Impact

• Shareholders: The continued significant stake by a major institutional investor may reassure existing shareholders and attract new ones, potentially influencing stock stability and liquidity.
• Management: The presence of a large, passive institutional investor typically implies a focus on long-term value creation without immediate pressure for control changes.

Key Dates

Keywords

Under Armour Inc., UAA, FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Institutional Investor, Class A Common Stock, SEC Filing, Fidelity Blue Chip Growth Fund