Pinnacle Financial Partners Inc Lowers Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Pinnacle Financial Partners Inc lowered its position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 82.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,061 shares of the apparel retailer's stock after selling 9,400 shares during the quarter. Pinnacle Financial Partners Inc's holdings in Lululemon Athletica were worth $559,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bleakley Financial Group LLC boosted its stake in Lululemon Athletica by 2.1% in the 1st quarter. Bleakley Financial Group LLC now owns 1,889 shares of the apparel retailer's stock worth $738,000 after purchasing an additional 38 shares during the period. Koshinski Asset Management Inc. purchased a new position in shares of Lululemon Athletica during the 1st quarter worth $226,000. Orion Portfolio Solutions LLC increased its position in shares of Lululemon Athletica by 41.7% during the 1st quarter. Orion Portfolio Solutions LLC now owns 6,465 shares of the apparel retailer's stock worth $2,526,000 after purchasing an additional 1,901 shares during the last quarter. Cumberland Partners Ltd purchased a new position in shares of Lululemon Athletica in the 1st quarter valued at about $1,074,000. Finally, M&G Plc purchased a new stake in Lululemon Athletica during the first quarter worth approximately $72,455,000. Hedge funds and other institutional investors own 85.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LULU. The Goldman Sachs Group lowered Lululemon Athletica from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $463.00 to $286.00 in a report on Friday, August 2nd. Bank of America lowered their price target on Lululemon Athletica from $440.00 to $355.00 and set a "buy" rating for the company in a report on Friday, August 30th. Sanford C. Bernstein decreased their price objective on shares of Lululemon Athletica from $345.00 to $325.00 and set a "market perform" rating for the company in a research report on Friday, August 30th. Truist Financial raised their price target on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley cut their target price on Lululemon Athletica from $326.00 to $314.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $357.13.

Lululemon Athletica Stock Down 2.2 %

Shares of NASDAQ:LULU traded down $7.22 during midday trading on Friday, reaching $323.04. The company's stock had a trading volume of 605,422 shares, compared to its average volume of 2,093,036. The firm has a market capitalization of $39.66 billion, a P/E ratio of 25.26, a PEG ratio of 2.39 and a beta of 1.24. The firm has a 50 day moving average of $285.03 and a 200-day moving average of $290.70. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.22. The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company's revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $2.68 EPS. On average, research analysts predict that Lululemon Athletica Inc. will post 14.02 EPS for the current year.

Insider Transactions at Lululemon Athletica

In other news, CEO Calvin Mcdonald purchased 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now directly owns 89,922 shares in the company, valued at approximately $23,379,720. This 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 company's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now directly owns 6,198 shares of the company's stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company's stock.

Lululemon Athletica Company 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.