Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. cut its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 75.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,267 shares of the apparel retailer's stock after selling 488,304 shares during the period. Franklin Resources Inc. owned approximately 0.13% of Lululemon Athletica worth $45,671,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LULU. Larson Financial Group LLC raised 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 valued at $29,000 after purchasing an additional 43 shares during the last quarter. Paladin Wealth LLC purchased a new position in shares of Lululemon Athletica in the 3rd quarter worth $29,000. JFS Wealth Advisors LLC grew its holdings in shares of Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer's stock worth $31,000 after acquiring an additional 65 shares during the period. Ridgewood Investments LLC bought a new position in Lululemon Athletica in the second quarter valued at about $33,000. Finally, HHM Wealth Advisors LLC boosted its position in Lululemon Athletica by 66.7% in 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. 85.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Nicole Neuburger sold 486 shares of the 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. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Celeste Burgoyne sold 24,870 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares of the company's stock, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lululemon Athletica from $292.00 to $396.00 and gave the stock a "hold" rating in a research note on Monday, December 9th. Stifel Nicolaus restated a "buy" rating and issued a $438.00 price objective (up from $370.00) on shares of Lululemon Athletica in a research note on Friday, December 6th. Wells Fargo & Company decreased their target price on Lululemon Athletica from $350.00 to $285.00 and set an "equal weight" rating on the stock in a report on Friday, August 23rd. Finally, BMO Capital Markets upped their price target on Lululemon Athletica from $265.00 to $302.00 and gave the stock a "market perform" rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $377.63.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock traded down $18.52 during trading hours on Wednesday, reaching $372.07. The company's stock had a trading volume of 2,094,660 shares, compared to its average volume of 2,116,522. The firm has a 50 day moving average price of $325.40 and a 200-day moving average price of $293.11. The stock has a market cap of $45.31 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.84 and a beta of 1.23. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.17 EPS for the current fiscal year.

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.