Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,822 shares of the apparel retailer’s stock after selling 51 shares during the period. Sumitomo Life Insurance Co.’s holdings in Lululemon Athletica were worth $1,462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LULU. Paladin Wealth LLC acquired a new position in Lululemon Athletica in the 3rd quarter valued at $29,000. JFS Wealth Advisors LLC grew its position in shares of Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Sound Income Strategies LLC increased its stake in Lululemon Athletica by 309.5% in the fourth quarter. Sound Income Strategies LLC now owns 86 shares of the apparel retailer’s stock valued at $33,000 after purchasing an additional 65 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in Lululemon Athletica by 110.1% during the third quarter. Armstrong Advisory Group Inc. now owns 145 shares of the apparel retailer’s stock worth $39,000 after buying an additional 76 shares during the period. Finally, Asset Dedication LLC boosted its stake in Lululemon Athletica by 402.1% in the 3rd quarter. Asset Dedication LLC now owns 236 shares of the apparel retailer’s stock worth $64,000 after buying an additional 189 shares during the last quarter. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LULU. Barclays increased their price objective on shares of Lululemon Athletica from $378.00 to $411.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Piper Sandler increased their price target on shares of Lululemon Athletica from $260.00 to $340.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. TD Securities boosted their price objective on shares of Lululemon Athletica from $382.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Raymond James reaffirmed an “outperform” rating and issued a $430.00 target price (up from $400.00) on shares of Lululemon Athletica in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. boosted their price target on Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $395.67.

Lululemon Athletica Price Performance

LULU opened at $411.16 on Thursday. The stock has a market capitalization of $50.07 billion, a PE ratio of 29.69, a P/E/G ratio of 2.50 and a beta of 1.18. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $491.30. The firm’s fifty day moving average price is $372.62 and its 200 day moving average price is $309.37.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.53 earnings per share. On average, equities research analysts forecast that Lululemon Athletica Inc. will post 14.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Nicole Neuburger sold 2,022 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now owns 6,198 shares of the company’s stock, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction on 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 owns 12,429 shares of the company’s stock, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

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.