Lululemon Athletica (NASDAQ:LULU) Stock Price Down 3.5% - What's Next?

Lululemon Athletica Inc. (NASDAQ:LULU - Get Free Report) fell 3.5% during trading on Wednesday . The company traded as low as $375.10 and last traded at $375.27. 949,949 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 1,526,299 shares. The stock had previously closed at $388.74.

Wall Street Analyst Weigh In

LULU has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Lululemon Athletica from $420.00 to $460.00 and gave the company a "buy" rating in a report on Friday, January 10th. Wells Fargo & Company raised their target price on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an "equal weight" rating in a research note on Wednesday. Barclays boosted their price target on shares of Lululemon Athletica from $261.00 to $378.00 and gave the stock an "equal weight" rating in a research note on Friday, December 6th. Needham & Company LLC upgraded Lululemon Athletica from a "hold" rating to a "buy" rating and set a $475.00 price objective for the company in a research report on Friday, January 10th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $438.00 target price (up from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Lululemon Athletica presently has a consensus rating of "Moderate Buy" and an average price target of $388.93.

Lululemon Athletica Stock Performance

The stock has a fifty day moving average of $358.92 and a 200-day moving average of $303.06. The company has a market cap of $45.87 billion, a PE ratio of 27.20, a PEG ratio of 2.78 and a beta of 1.18.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.69 by $0.18. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 earnings per share. As a group, equities analysts anticipate that Lululemon Athletica Inc. will post 14.17 EPS for the current fiscal year.

Insider Transactions at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the transaction, the insider now owns 6,198 shares of the company's stock, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated 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 completion of the sale, the insider now owns 12,429 shares of the company's stock, valued at $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On Lululemon Athletica

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in Lululemon Athletica by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,474,828 shares of the apparel retailer's stock worth $669,036,000 after buying an additional 44,294 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Lululemon Athletica by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer's stock valued at $310,763,000 after acquiring an additional 37,239 shares during the period. International Assets Investment Management LLC raised its position in shares of Lululemon Athletica by 74,856.2% in the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer's stock worth $243,055,000 after acquiring an additional 894,531 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Lululemon Athletica by 38.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer's stock worth $220,423,000 after purchasing an additional 203,882 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Lululemon Athletica by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 702,294 shares of the apparel retailer's stock valued at $190,567,000 after purchasing an additional 19,808 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

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.