Assenagon Asset Management S.A. Sells 70,408 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Assenagon Asset Management S.A. lessened its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 211,374 shares of the apparel retailer’s stock after selling 70,408 shares during the period. Assenagon Asset Management S.A.’s holdings in Lululemon Athletica were worth $80,832,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LULU. Crestmont Private Wealth LLC bought a new stake in Lululemon Athletica in the fourth quarter valued at approximately $227,000. Oak Thistle LLC acquired a new position in shares of Lululemon Athletica in the 4th quarter worth approximately $334,000. SeaCrest Wealth Management LLC boosted its stake in shares of Lululemon Athletica by 2.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock valued at $389,000 after purchasing an additional 26 shares during the last quarter. Mayfair Advisory Group LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth $208,000. Finally, Cardinal Point Capital Management ULC bought a new position in Lululemon Athletica during the fourth quarter worth $229,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $376.66 on Thursday. Lululemon Athletica Inc. has a 52-week low of $226.01 and a 52-week high of $491.30. The company has a 50-day simple moving average of $358.92 and a two-hundred day simple moving average of $303.06. The company has a market capitalization of $45.87 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 2.78 and a beta of 1.18.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business posted $2.53 earnings per share. On average, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.17 EPS for the current fiscal year.

Insider Activity

In related news, insider Celeste Burgoyne sold 24,870 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. This trade represents a 66.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares in the company, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $438.00 price target (up from $370.00) on shares of Lululemon Athletica in a report on Friday, December 6th. KeyCorp lifted their target price on Lululemon Athletica from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased their price target on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. William Blair reiterated an “outperform” rating on shares of Lululemon Athletica in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lululemon Athletica from $425.00 to $428.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $388.93.

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.