Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC lessened its holdings in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 27.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,452 shares of the apparel retailer's stock after selling 2,419 shares during the period. Advisory Services Network LLC's holdings in Lululemon Athletica were worth $2,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mawer Investment Management Ltd. bought a new stake in Lululemon Athletica in the fourth quarter worth $523,520,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $370,062,000. Alliancebernstein L.P. raised its holdings in Lululemon Athletica by 14.9% in the fourth quarter. Alliancebernstein L.P. now owns 4,397,588 shares of the apparel retailer's stock worth $1,681,682,000 after purchasing an additional 571,657 shares in the last quarter. Schroder Investment Management Group boosted its stake in Lululemon Athletica by 31.0% during the fourth quarter. Schroder Investment Management Group now owns 1,781,237 shares of the apparel retailer's stock worth $681,163,000 after acquiring an additional 421,890 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Lululemon Athletica in the 4th quarter worth approximately $142,235,000. Hedge funds and other institutional investors own 85.20% of the company's stock.

Analysts Set New Price Targets

LULU has been the topic of several analyst reports. Truist Financial dropped their target price on shares of Lululemon Athletica from $380.00 to $297.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Sanford C. Bernstein raised Lululemon Athletica from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $360.00 to $460.00 in a report on Tuesday, January 7th. Piper Sandler cut their price target on Lululemon Athletica from $315.00 to $280.00 and set a "neutral" rating for the company in a research note on Friday. UBS Group dropped their price target on Lululemon Athletica from $376.00 to $335.00 and set a "neutral" rating for the company in a research note on Friday, March 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of Lululemon Athletica in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $371.72.

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Lululemon Athletica Stock Performance

Lululemon Athletica stock traded down $4.17 during midday trading on Tuesday, hitting $255.60. 1,256,873 shares of the company's stock were exchanged, compared to its average volume of 2,235,857. The firm has a 50-day moving average of $329.34 and a two-hundred day moving average of $339.62. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $423.32. The company has a market cap of $30.83 billion, a PE ratio of 18.45, a P/E/G ratio of 2.22 and a beta of 1.31.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.85 by $0.29. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the company posted $5.29 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. As a group, equities analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current 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.