Assenagon Asset Management S.A. Sells 42,945 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Assenagon Asset Management S.A. lessened its position in Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 168,429 shares of the apparel retailer's stock after selling 42,945 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of Lululemon Athletica worth $47,676,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Investment Partners Asset Management Inc. bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $275,000. Nutshell Asset Management Ltd bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $956,000. Montag A & Associates Inc. increased its position in shares of Lululemon Athletica by 495.1% during the fourth quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer's stock worth $1,627,000 after acquiring an additional 3,540 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $17,775,000. Finally, Aigen Investment Management LP bought a new stake in shares of Lululemon Athletica during the fourth quarter worth $2,229,000. Institutional investors own 85.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LULU. BMO Capital Markets lowered their price objective on shares of Lululemon Athletica from $302.00 to $250.00 and set a "market perform" rating for the company in a research report on Friday, June 6th. JPMorgan Chase & Co. reduced their target price on shares of Lululemon Athletica from $389.00 to $303.00 and set an "overweight" rating for the company in a report on Friday, June 6th. Piper Sandler increased their target price on shares of Lululemon Athletica from $280.00 to $315.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. CICC Research restated a "market perform" rating and set a $280.49 target price on shares of Lululemon Athletica in a report on Monday, June 9th. Finally, Barclays reduced their target price on shares of Lululemon Athletica from $276.00 to $270.00 and set an "equal weight" rating for the company in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $340.26.

Lululemon Athletica Stock Down 3.2%

Shares of NASDAQ LULU traded down $7.92 during mid-day trading on Friday, reaching $239.11. 4,511,966 shares of the company were exchanged, compared to its average volume of 2,216,630. The company's 50-day simple moving average is $284.75 and its 200-day simple moving average is $335.60. The stock has a market capitalization of $28.66 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.22 and a beta of 1.26. Lululemon Athletica Inc. has a twelve month low of $226.01 and a twelve month high of $423.32.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.60. The company had revenue of $2.37 billion during 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%. Lululemon Athletica's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.54 EPS. As a group, equities research analysts expect that Lululemon Athletica Inc. will post 14.36 EPS for the current year.

Lululemon Athletica Company 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.