lululemon athletica inc. (NASDAQ:LULU) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has significantly reduced its stake in lululemon athletica, cutting its holdings by 88.8% to just 10,637 shares.
• Several hedge funds have made recent transactions involving lululemon, including a noteworthy purchase of approximately $142 million by Norges Bank in the fourth quarter.
• Analysts have revised their price targets for lululemon athletica, with estimates ranging from $250 to $366 and a consensus target of $333.57.

Allianz Asset Management GmbH trimmed its stake in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 88.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,637 shares of the apparel retailer's stock after selling 84,372 shares during the period. Allianz Asset Management GmbH's holdings in lululemon athletica were worth $3,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LULU. Twin Capital Management Inc. boosted its position in lululemon athletica by 58.3% during the first quarter. Twin Capital Management Inc. now owns 3,676 shares of the apparel retailer's stock worth $1,041,000 after purchasing an additional 1,354 shares in the last quarter. Narwhal Capital Management raised its stake in shares of lululemon athletica by 262.7% during the 1st quarter. Narwhal Capital Management now owns 18,777 shares of the apparel retailer's stock worth $5,315,000 after buying an additional 13,600 shares during the period. Sawgrass Asset Management LLC acquired a new position in shares of lululemon athletica during the 1st quarter worth approximately $9,209,000. Flossbach Von Storch SE lifted its position in shares of lululemon athletica by 10.3% during the 1st quarter. Flossbach Von Storch SE now owns 1,401,885 shares of the apparel retailer's stock valued at $396,818,000 after buying an additional 130,565 shares in the last quarter. Finally, Bender Robert & Associates grew its stake in lululemon athletica by 18.5% in the 1st quarter. Bender Robert & Associates now owns 44,961 shares of the apparel retailer's stock valued at $12,727,000 after acquiring an additional 7,028 shares during the period. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LULU has been the subject of a number of research analyst reports. CICC Research restated a "market perform" rating and set a $280.49 price objective on shares of lululemon athletica in a research report on Monday, June 9th. Truist Financial cut their target price on shares of lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Piper Sandler decreased their price target on shares of lululemon athletica from $270.00 to $200.00 and set a "neutral" rating on the stock in a research note on Tuesday. UBS Group lowered their price objective on lululemon athletica from $330.00 to $290.00 and set a "neutral" rating on the stock in a report on Friday, June 6th. Finally, William Blair reissued an "outperform" rating on shares of lululemon athletica in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, lululemon athletica presently has an average rating of "Moderate Buy" and a consensus price target of $333.57.

lululemon athletica Trading Down 2.2%

LULU traded down $4.47 during mid-day trading on Friday, hitting $196.06. 798,391 shares of the stock were exchanged, compared to its average volume of 2,567,057. The firm's fifty day moving average is $251.01 and its two-hundred day moving average is $301.20. lululemon athletica inc. has a 1-year low of $194.00 and a 1-year high of $423.32. The company has a market cap of $23.50 billion, a PE ratio of 13.26, a PEG ratio of 1.76 and a beta of 1.17.

lululemon athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.60. The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. lululemon athletica had a net margin of 16.82% and a return on equity of 43.48%. The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.54 earnings per share. As a group, research analysts anticipate that lululemon athletica inc. will post 14.36 earnings per share for the current year.

Insider Buying and Selling

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the transaction, the chief executive officer owned 110,564 shares in the company, valued at $26,058,829.16. The trade was a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate 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.