abrdn plc Lowers Position in Lululemon Athletica Inc. (NASDAQ:LULU)

abrdn plc cut its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 36.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,264 shares of the apparel retailer’s stock after selling 45,116 shares during the period. abrdn plc owned 0.06% of Lululemon Athletica worth $29,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SeaCrest Wealth Management LLC lifted its holdings in Lululemon Athletica by 2.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock worth $389,000 after buying an additional 26 shares during the period. Adirondack Trust Co. increased its stake in shares of Lululemon Athletica by 6.5% during the fourth quarter. Adirondack Trust Co. now owns 651 shares of the apparel retailer’s stock valued at $249,000 after purchasing an additional 40 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Lululemon Athletica by 4.6% during the third quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock valued at $258,000 after purchasing an additional 42 shares in the last quarter. First Pacific Financial increased its stake in shares of Lululemon Athletica by 1.4% during the fourth quarter. First Pacific Financial now owns 3,096 shares of the apparel retailer’s stock valued at $1,184,000 after purchasing an additional 44 shares in the last quarter. Finally, Claro Advisors LLC increased its stake in shares of Lululemon Athletica by 5.6% during the fourth quarter. Claro Advisors LLC now owns 902 shares of the apparel retailer’s stock valued at $345,000 after purchasing an additional 48 shares in the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock opened at $412.80 on Thursday. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $480.94. The company’s fifty day simple moving average is $382.35 and its 200-day simple moving average is $313.87. The stock has a market capitalization of $50.27 billion, a PE ratio of 29.81, a P/E/G ratio of 2.70 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating 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 company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company earned $2.53 EPS. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. TD Securities raised their target price on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. UBS Group raised their target price on shares of Lululemon Athletica from $315.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. William Blair reissued an “outperform” rating on shares of Lululemon Athletica in a research report on Friday, December 6th. Raymond James reissued an “outperform” rating and set a $430.00 price target (up previously from $400.00) on shares of Lululemon Athletica in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $395.67.

Insider Activity at Lululemon Athletica

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

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.