ING Groep NV Sells 31,511 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

ING Groep NV trimmed its position in Lululemon Athletica Inc. (NASDAQ:LULUFree Report) by 39.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,031 shares of the apparel retailer’s stock after selling 31,511 shares during the period. ING Groep NV’s holdings in Lululemon Athletica were worth $25,069,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System raised its position in shares of Lululemon Athletica by 18.2% in the third quarter. New York State Teachers Retirement System now owns 2,751 shares of the apparel retailer’s stock worth $1,061,000 after buying an additional 424 shares in the last quarter. Assetmark Inc. raised its stake in Lululemon Athletica by 19.2% in the third quarter. Assetmark Inc. now owns 622 shares of the apparel retailer’s stock valued at $240,000 after purchasing an additional 100 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Lululemon Athletica by 13.4% during the third quarter. Daiwa Securities Group Inc. now owns 13,937 shares of the apparel retailer’s stock valued at $5,374,000 after purchasing an additional 1,643 shares during the last quarter. WealthPlan Investment Management LLC purchased a new position in Lululemon Athletica in the 3rd quarter worth approximately $1,289,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Lululemon Athletica by 11.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,549 shares of the apparel retailer’s stock worth $3,297,000 after buying an additional 886 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LULU shares. Piper Sandler lowered their price objective on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. TD Cowen reduced their price objective on shares of Lululemon Athletica from $553.00 to $515.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Barclays downgraded shares of Lululemon Athletica from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $546.00 to $395.00 in a research note on Monday, April 29th. Wells Fargo & Company lowered their price objective on Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating for the company in a research report on Friday, March 22nd. Finally, Citigroup dropped their price target on Lululemon Athletica from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $474.79.

Check Out Our Latest Report on LULU

Lululemon Athletica Price Performance

NASDAQ LULU traded down $3.33 during trading hours on Friday, reaching $334.95. The company’s stock had a trading volume of 2,588,595 shares, compared to its average volume of 1,628,066. The company’s 50-day moving average is $378.90 and its two-hundred day moving average is $434.09. The firm has a market capitalization of $42.21 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.20 and a beta of 1.30. Lululemon Athletica Inc. has a 1-year low of $326.93 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULUGet Free Report) last released its earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.00 by $0.29. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the company posted $4.40 EPS. The business’s revenue was up 15.6% on a year-over-year basis. Equities analysts forecast that Lululemon Athletica Inc. will post 14.15 EPS for the current fiscal year.

Insider Activity at Lululemon Athletica

In other news, Director Martha A. M. Morfitt bought 700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average price of $389.29 per share, with a total value of $272,503.00. Following the purchase, the director now owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by insiders.

About Lululemon Athletica

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

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