ProShare Advisors LLC Lowers Stake in Lululemon Athletica Inc. (NASDAQ:LULU)

ProShare Advisors LLC lessened its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 8.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,956 shares of the apparel retailer’s stock after selling 11,681 shares during the period. ProShare Advisors LLC owned about 0.10% of Lululemon Athletica worth $37,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. lifted its position in shares of Lululemon Athletica by 51.8% during the 4th quarter. Assetmark Inc. now owns 944 shares of the apparel retailer’s stock valued at $483,000 after buying an additional 322 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Lululemon Athletica by 17.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 12,520 shares of the apparel retailer’s stock valued at $6,401,000 after purchasing an additional 1,870 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of Lululemon Athletica in the fourth quarter valued at about $888,000. Orion Portfolio Solutions LLC increased its stake in shares of Lululemon Athletica by 11.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 4,564 shares of the apparel retailer’s stock worth $2,243,000 after purchasing an additional 480 shares in the last quarter. Finally, Advisory Services Network LLC raised its position in shares of Lululemon Athletica by 6.0% during the 4th quarter. Advisory Services Network LLC now owns 5,622 shares of the apparel retailer’s stock worth $2,874,000 after purchasing an additional 319 shares during the last quarter. Institutional investors and hedge funds own 85.20% of the company’s stock.

Insider Transactions at Lululemon Athletica

In related news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

LULU has been the subject of several research reports. Telsey Advisory Group cut their price objective on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating for the company in a research note on Monday, August 26th. KeyCorp dropped their price target on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Sanford C. Bernstein decreased their price objective 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. Morgan Stanley dropped their target price on shares of Lululemon Athletica from $329.00 to $326.00 and set an “overweight” rating for the company in a report on Sunday, September 1st. Finally, Piper Sandler raised their price target on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $354.94.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $262.61 on Monday. The company has a market cap of $32.83 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.38 and a beta of 1.25. The stock has a 50-day moving average of $259.72 and a two-hundred day moving average of $317.50. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.68 earnings per share. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.03 EPS for the current fiscal year.

Lululemon Athletica declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the apparel retailer to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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.