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

Pinnacle Financial Partners Inc lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 8.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,896 shares of the apparel retailer’s stock after selling 165 shares during the period. Pinnacle Financial Partners Inc’s holdings in Lululemon Athletica were worth $692,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Shepherd Financial Partners LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter valued at $953,000. Investment Partners Asset Management Inc. purchased a new stake in shares of Lululemon Athletica during the 4th quarter valued at $275,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Lululemon Athletica by 198.8% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock valued at $1,844,000 after purchasing an additional 4,564 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Lululemon Athletica by 50.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after purchasing an additional 34,704 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in shares of Lululemon Athletica by 876.8% during the 3rd quarter. Rakuten Securities Inc. now owns 2,022 shares of the apparel retailer’s stock valued at $549,000 after purchasing an additional 1,815 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LULU. Piper Sandler raised their target price on Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Oppenheimer raised their target price on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Guggenheim raised their target price on Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup raised their target price on Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, UBS Group increased their price target on Lululemon Athletica from $315.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $399.14.

Get Our Latest Stock Report on Lululemon Athletica

Lululemon Athletica Price Performance

LULU opened at $358.97 on Monday. The company’s 50 day simple moving average is $388.35 and its two-hundred day simple moving average is $325.86. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $480.94. The firm has a market capitalization of $43.72 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period last year, the company posted $2.53 EPS. The business’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. The trade was 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 that occurred on Monday, December 9th. The shares were sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the sale, the insider now directly owns 12,429 shares in the company, valued at approximately $5,040,456.66. The trade was a 66.68 % 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

(Free Report)

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.

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Want to see what other hedge funds are holding LULU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lululemon Athletica Inc. (NASDAQ:LULUFree Report).

Institutional Ownership by Quarter for Lululemon Athletica (NASDAQ:LULU)

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