Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,426 shares of the apparel retailer’s stock after selling 379 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lululemon Athletica were worth $2,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in LULU. International Assets Investment Management LLC boosted its stake in Lululemon Athletica by 74,856.2% during the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after buying an additional 894,531 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Lululemon Athletica during the third quarter worth $93,476,000. The Manufacturers Life Insurance Company boosted its stake in Lululemon Athletica by 136.3% during the third quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after buying an additional 305,302 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in Lululemon Athletica during the third quarter worth $81,405,000. Finally, River Road Asset Management LLC acquired a new position in Lululemon Athletica during the third quarter worth $79,503,000. 85.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LULU has been the topic of a number of recent research reports. Oppenheimer boosted their price objective on Lululemon Athletica from $380.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Raymond James restated an “outperform” rating and issued a $430.00 target price (up previously from $400.00) on shares of Lululemon Athletica in a research report on Wednesday, January 15th. BMO Capital Markets lifted their target price on Lululemon Athletica from $265.00 to $302.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Morgan Stanley lifted their target price on Lululemon Athletica from $414.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, January 15th. Finally, Sanford C. Bernstein upgraded Lululemon Athletica from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $360.00 to $460.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Lululemon Athletica currently has a consensus rating of “Moderate Buy” and a consensus target price of $399.14.

Insiders Place Their Bets

In other news, insider Nicole Neuburger sold 2,022 shares of the company’s 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 transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This represents a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now directly owns 12,429 shares of the company’s stock, 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 company insiders.

Lululemon Athletica Price Performance

Shares of NASDAQ LULU opened at $358.97 on Friday. The stock’s 50-day moving average is $388.35 and its two-hundred day moving average is $324.60. Lululemon Athletica Inc. has a 1-year low of $226.01 and a 1-year high of $480.94. The company has a market cap of $43.72 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the business earned $2.53 EPS. Lululemon Athletica’s revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Lululemon Athletica Inc. will post 14.36 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.