Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Alerus Financial NA

Alerus Financial NA decreased its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 22.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,264 shares of the apparel retailer’s stock after selling 947 shares during the quarter. Alerus Financial NA’s holdings in Lululemon Athletica were worth $886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Erste Asset Management GmbH acquired a new stake in Lululemon Athletica in the 3rd quarter valued at about $5,745,000. Maverick Capital Ltd. purchased a new stake in shares of Lululemon Athletica in the third quarter valued at approximately $93,476,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Lululemon Athletica by 60.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 546,162 shares of the apparel retailer’s stock valued at $148,201,000 after purchasing an additional 205,757 shares during the last quarter. Southpoint Capital Advisors LP purchased a new position in Lululemon Athletica during the third quarter worth approximately $81,405,000. Finally, William Allan Corp boosted its stake in Lululemon Athletica by 4.0% during the third quarter. William Allan Corp now owns 5,225 shares of the apparel retailer’s stock worth $1,418,000 after buying an additional 199 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Sanford C. Bernstein reduced their price target on Lululemon Athletica from $345.00 to $325.00 and set a “market perform” rating on the stock in a report on Friday, August 30th. Guggenheim decreased their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Truist Financial raised their price target on shares of Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley upped their price objective on Lululemon Athletica from $314.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Evercore ISI restated an “outperform” rating and issued a $300.00 target price on shares of Lululemon Athletica in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, Lululemon Athletica has a consensus rating of “Moderate Buy” and an average target price of $356.03.

Insiders Place Their Bets

In related news, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $1,670,918.82. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Calvin Mcdonald acquired 4,000 shares of Lululemon Athletica stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the purchase, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The trade was a 4.66 % increase in their position. The disclosure for this purchase can be found here. 0.48% of the stock is owned by corporate insiders.

Lululemon Athletica Trading Up 0.4 %

Lululemon Athletica stock opened at $320.66 on Friday. The company has a fifty day simple moving average of $297.19 and a 200-day simple moving average of $287.43. The stock has a market cap of $39.37 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.22. The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 EPS. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.01 earnings per share for the current fiscal year.

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.