Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 0.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 311,187 shares of the apparel retailer’s stock after selling 1,006 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Lululemon Athletica worth $84,441,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC increased its holdings in Lululemon Athletica by 78.2% in the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 40 shares in the last quarter. Paladin Wealth LLC acquired a new position in Lululemon Athletica in the 3rd quarter worth about $29,000. Ridgewood Investments LLC purchased a new position in Lululemon Athletica during the second quarter worth approximately $33,000. Finally, Dnca Finance acquired a new stake in Lululemon Athletica in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction 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 transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Calvin Mcdonald bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the purchase, the chief executive officer now directly owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This trade represents a 4.66 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $330.26 on Friday. The firm has a market cap of $40.55 billion, a P/E ratio of 25.52, a P/E/G ratio of 2.33 and a beta of 1.24. The firm’s 50 day moving average price is $283.50 and its 200-day moving average price is $290.42. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released 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 return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period last year, the business posted $2.68 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict that Lululemon Athletica Inc. will post 14.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LULU shares. Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a research report on Thursday, July 25th. Piper Sandler increased their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Sanford C. Bernstein reduced their price target 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. Raymond James lowered their price objective on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, September 2nd. Finally, KeyCorp cut their price objective on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $357.13.

Lululemon Athletica 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.