Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Zacks Investment Management

Zacks Investment Management reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 83.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,597 shares of the apparel retailer's stock after selling 8,188 shares during the quarter. Zacks Investment Management's holdings in Lululemon Athletica were worth $433,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Shepherd Financial Partners LLC bought a new position in shares of Lululemon Athletica during the third quarter valued at approximately $953,000. XTX Topco Ltd grew its stake in shares of Lululemon Athletica by 281.4% during the second quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer's stock valued at $2,657,000 after buying an additional 6,562 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Lululemon Athletica by 31.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer's stock valued at $4,607,000 after buying an additional 3,721 shares during the last quarter. Rheos Capital Works Inc. grew its stake in shares of Lululemon Athletica by 19.2% during the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer's stock valued at $4,206,000 after buying an additional 2,500 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Lululemon Athletica by 198.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer's stock valued at $1,844,000 after buying an additional 4,564 shares during the last quarter. 85.20% of the stock is owned by institutional investors.

Lululemon Athletica Price Performance

LULU stock traded up $2.65 during trading on Wednesday, hitting $399.75. 1,358,934 shares of the company traded hands, compared to its average volume of 2,127,332. The stock's 50-day simple moving average is $311.07 and its 200 day simple moving average is $289.39. The company has a market cap of $49.08 billion, a PE ratio of 28.91, a P/E/G ratio of 2.87 and a beta of 1.23. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion during 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%. Lululemon Athletica's quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $2.53 earnings per share. Research analysts expect that Lululemon Athletica Inc. will post 14.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LULU has been the topic of a number of analyst reports. KeyCorp upped their target price on Lululemon Athletica from $350.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Wedbush reduced their price objective on Lululemon Athletica from $400.00 to $324.00 and set an "outperform" rating on the stock in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft upped their target price on Lululemon Athletica from $292.00 to $396.00 and gave the stock a "hold" rating in a report on Monday. Raymond James increased their price target on Lululemon Athletica from $320.00 to $355.00 in a research report on Thursday, December 5th. Finally, Oppenheimer dropped their price target on Lululemon Athletica from $445.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $377.63.

Insider Activity

In other news, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica 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 completion of the sale, the insider now directly owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

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.