Lululemon Athletica Inc. (NASDAQ:LULU) Holdings Reduced by Entropy Technologies LP

Entropy Technologies LP lessened its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 24.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,594 shares of the apparel retailer’s stock after selling 2,465 shares during the quarter. Entropy Technologies LP’s holdings in Lululemon Athletica were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LULU. Larson Financial Group LLC boosted its position in Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 43 shares during the period. Paladin Wealth LLC acquired a new stake in Lululemon Athletica in the third quarter worth about $29,000. Versant Capital Management Inc grew its position in Lululemon Athletica by 61.5% in the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 40 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in shares of Lululemon Athletica during the 2nd quarter worth about $33,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Lululemon Athletica Stock Performance

NASDAQ:LULU opened at $320.90 on Wednesday. The company has a market capitalization of $39.40 billion, a P/E ratio of 24.61, a P/E/G ratio of 2.24 and a beta of 1.24. The stock’s 50 day moving average price is $280.78 and its 200 day moving average price is $290.46. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the business posted $2.68 EPS. Lululemon Athletica’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LULU has been the subject of several recent analyst reports. TD Securities increased their price objective on shares of Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. cut their price objective on Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Telsey Advisory Group lowered their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Raymond James cut their price target on shares of Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, September 2nd. Finally, Bank of America dropped their target price on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus price target of $357.13.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 486 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction dated 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 transaction, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. The trade was a 0.00 % 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.

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.