Citigroup Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU - Get Free Report) had its price objective lowered by equities research analysts at Citigroup from $380.00 to $330.00 in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage currently has a "neutral" rating on the apparel retailer's stock. Citigroup's target price would suggest a potential downside of 1.37% from the stock's current price.

Other analysts have also issued reports about the stock. William Blair reaffirmed an "outperform" rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Wells Fargo & Company boosted their price target on Lululemon Athletica from $350.00 to $375.00 and gave the stock an "equal weight" rating in a research report on Wednesday, January 15th. Piper Sandler lifted their target price on Lululemon Athletica from $260.00 to $340.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Evercore ISI lifted their price objective on shares of Lululemon Athletica from $440.00 to $495.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Finally, Oppenheimer increased their target price on shares of Lululemon Athletica from $380.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $397.10.

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Lululemon Athletica Stock Performance

NASDAQ LULU traded up $11.98 on Thursday, reaching $334.60. 893,769 shares of the stock traded hands, compared to its average volume of 2,077,366. Lululemon Athletica has a 12 month low of $226.01 and a 12 month high of $423.32. The company has a market cap of $40.75 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.22 and a beta of 1.21. The company has a fifty day moving average price of $369.92 and a 200-day moving average price of $337.50.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the sale, the insider now directly owns 6,198 shares of the company's stock, valued at $2,399,307.78. This represents a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC increased its position in shares of Lululemon Athletica by 82.3% in the third quarter. Quest Partners LLC now owns 3,060 shares of the apparel retailer's stock valued at $830,000 after buying an additional 1,381 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Lululemon Athletica in the 3rd quarter worth $2,195,000. PNC Financial Services Group Inc. increased its holdings in Lululemon Athletica by 9.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,692 shares of the apparel retailer's stock worth $4,801,000 after acquiring an additional 1,579 shares in the last quarter. Advisors Asset Management Inc. raised its position in Lululemon Athletica by 51.6% during the third quarter. Advisors Asset Management Inc. now owns 1,677 shares of the apparel retailer's stock worth $455,000 after acquiring an additional 571 shares during the period. Finally, Moors & Cabot Inc. purchased a new position in Lululemon Athletica during the third quarter valued at $392,000. Hedge funds and other institutional investors own 85.20% of the company's stock.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.