Davidson Capital Management Inc. Reduces Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Davidson Capital Management Inc. cut its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 0.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,124 shares of the apparel retailer’s stock after selling 43 shares during the period. Davidson Capital Management Inc.’s holdings in Lululemon Athletica were worth $2,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares during the period. Versant Capital Management Inc increased its position in shares of Lululemon Athletica by 61.5% during the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after buying an additional 40 shares during the period. Paladin Wealth LLC bought a new stake in shares of Lululemon Athletica during the third quarter valued at about $29,000. Ridgewood Investments LLC bought a new stake in shares of Lululemon Athletica during the second quarter valued at about $33,000. Finally, Dnca Finance bought a new stake in shares of Lululemon Athletica during the second quarter valued at about $34,000. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Stock Performance

LULU stock traded down $1.92 on Tuesday, reaching $305.62. The company’s stock had a trading volume of 558,518 shares, compared to its average volume of 2,103,590. The business has a fifty day simple moving average of $271.13 and a two-hundred day simple moving average of $293.18. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The firm has a market cap of $38.20 billion, a PE ratio of 24.66, a PEG ratio of 2.17 and a beta of 1.25.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the firm posted $2.68 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, research analysts anticipate that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. KeyCorp decreased their price objective on shares of Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Truist Financial restated a “buy” rating and issued a $310.00 price objective on shares of Lululemon Athletica in a research report on Wednesday, August 28th. Guggenheim decreased their price objective on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. UBS Group decreased their price objective on shares of Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Finally, Robert W. Baird decreased their price objective on shares of Lululemon Athletica from $470.00 to $350.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $354.55.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price 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 $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Calvin Mcdonald acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price 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 $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole Neuburger sold 486 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

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.