Lululemon Athletica Inc. (NASDAQ:LULU) Stock Position Reduced by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS decreased its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 50.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,121 shares of the apparel retailer's stock after selling 30,010 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Lululemon Athletica were worth $11,136,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LULU. Net Worth Advisory Group purchased a new position in Lululemon Athletica during the 3rd quarter valued at about $348,000. Wealth Advisory Solutions LLC purchased a new stake in shares of Lululemon Athletica in the third quarter valued at about $5,423,000. Whittier Trust Co. increased its stake in shares of Lululemon Athletica by 2,868.1% during the 3rd quarter. Whittier Trust Co. now owns 25,229 shares of the apparel retailer's stock worth $6,845,000 after purchasing an additional 24,379 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Lululemon Athletica by 250,520.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 12,531 shares of the apparel retailer's stock worth $3,400,000 after purchasing an additional 12,526 shares during the last quarter. Finally, RBA Wealth Management LLC lifted its stake in Lululemon Athletica by 19.9% in the 3rd quarter. RBA Wealth Management LLC now owns 11,743 shares of the apparel retailer's stock valued at $3,186,000 after buying an additional 1,948 shares in the last quarter. Institutional investors and hedge funds own 85.20% of the company's stock.

Insider Buying and Selling at Lululemon Athletica

In related news, insider Nicole Neuburger sold 2,022 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares of the company's stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction on Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the sale, the insider now directly owns 12,429 shares in the company, valued at $5,040,456.66. This trade represents 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.

Lululemon Athletica Stock Performance

Lululemon Athletica stock traded down $6.85 during trading on Friday, reaching $358.97. 1,400,060 shares of the company's stock were exchanged, compared to its average volume of 1,614,250. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $480.94. The firm has a market cap of $43.72 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.23 and a beta of 1.19. The company's 50-day moving average is $388.35 and its two-hundred day moving average is $324.60.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 earnings per share. Analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler boosted their price target on Lululemon Athletica from $260.00 to $340.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Needham & Company LLC raised shares of Lululemon Athletica from a "hold" rating to a "buy" rating and set a $475.00 target price for the company in a research note on Friday, January 10th. UBS Group upped their target price on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a "neutral" rating in a report on Friday, December 6th. William Blair reiterated an "outperform" rating on shares of Lululemon Athletica in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Lululemon Athletica from $292.00 to $396.00 and gave the company a "hold" rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $399.14.

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.