Lululemon Athletica Inc. (NASDAQ:LULU) Stock Holdings Lessened by Edgewood Management LLC

Edgewood Management LLC lessened its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,196,119 shares of the apparel retailer's stock after selling 36,624 shares during the quarter. Lululemon Athletica comprises about 2.3% of Edgewood Management LLC's investment portfolio, making the stock its 21st biggest position. Edgewood Management LLC owned about 2.60% of Lululemon Athletica worth $867,267,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Versant Capital Management Inc grew its holdings in Lululemon Athletica by 61.5% during the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer's stock valued at $31,000 after buying an additional 40 shares during the last quarter. Rockline Wealth Management LLC boosted its holdings in shares of Lululemon Athletica by 1.3% during the second quarter. Rockline Wealth Management LLC now owns 3,314 shares of the apparel retailer's stock worth $990,000 after purchasing an additional 43 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer's stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Beacon Capital Management LLC boosted its holdings in shares of Lululemon Athletica by 31.1% during the first quarter. Beacon Capital Management LLC now owns 194 shares of the apparel retailer's stock worth $76,000 after purchasing an additional 46 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Lululemon Athletica by 66.7% during the second quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer's stock worth $34,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company's stock.

Analysts Set New Price Targets

LULU has been the topic of several analyst reports. Piper Sandler raised their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, August 30th. Wedbush reduced their target price on Lululemon Athletica from $400.00 to $324.00 and set an "outperform" rating on the stock in a report on Wednesday, August 28th. Bank of America reduced their target price on Lululemon Athletica from $440.00 to $355.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Raymond James reduced their target price on Lululemon Athletica from $350.00 to $325.00 and set an "outperform" rating on the stock in a report on Monday, September 2nd. Finally, Jefferies Financial Group reiterated an "underperform" rating and issued a $220.00 target price on shares of Lululemon Athletica in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica has a consensus rating of "Moderate Buy" and a consensus price target of $357.13.

Insider Transactions at Lululemon Athletica

In other news, CEO Calvin Mcdonald bought 4,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Lululemon Athletica Stock Up 2.3 %

LULU stock traded up $7.18 during midday trading on Friday, reaching $322.32. The company had a trading volume of 1,126,919 shares, compared to its average volume of 2,085,253. The stock has a 50 day moving average price of $290.83 and a 200 day moving average price of $289.10. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The firm has a market capitalization of $39.57 billion, a PE ratio of 24.35, a P/E/G ratio of 2.20 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 earnings per share. Research analysts predict that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Lululemon Athletica Profile

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.