22,782 Shares in lululemon athletica inc. (NASDAQ:LULU) Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in lululemon athletica, purchasing 22,782 shares valued at approximately $6.4 million.
• Institutional investors and hedge funds collectively own 85.2% of lululemon's stock, indicating strong institutional interest in the company.
• Recent price target adjustments from several analysts suggest a range between $225.00 and $405.00, with a consensus rating of "Moderate Buy" and a price target of $327.15.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,782 shares of the apparel retailer's stock, valued at approximately $6,449,000.

Several other large investors also recently bought and sold shares of the stock. Twin Capital Management Inc. boosted its holdings in lululemon athletica by 58.3% in the first quarter. Twin Capital Management Inc. now owns 3,676 shares of the apparel retailer's stock valued at $1,041,000 after purchasing an additional 1,354 shares in the last quarter. Narwhal Capital Management boosted its holdings in lululemon athletica by 262.7% in the first quarter. Narwhal Capital Management now owns 18,777 shares of the apparel retailer's stock valued at $5,315,000 after purchasing an additional 13,600 shares in the last quarter. Sawgrass Asset Management LLC acquired a new position in lululemon athletica in the first quarter valued at approximately $9,209,000. WealthPlan Investment Management LLC boosted its holdings in lululemon athletica by 26.9% in the first quarter. WealthPlan Investment Management LLC now owns 7,647 shares of the apparel retailer's stock valued at $2,165,000 after purchasing an additional 1,622 shares in the last quarter. Finally, Flossbach Von Storch SE boosted its holdings in lululemon athletica by 10.3% in the first quarter. Flossbach Von Storch SE now owns 1,401,885 shares of the apparel retailer's stock valued at $396,818,000 after purchasing an additional 130,565 shares in the last quarter. Hedge funds and other institutional investors own 85.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LULU. BTIG Research dropped their price target on lululemon athletica from $420.00 to $405.00 and set a "buy" rating on the stock in a research note on Friday, June 6th. Piper Sandler dropped their price target on lululemon athletica from $270.00 to $200.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 29th. JPMorgan Chase & Co. downgraded lululemon athletica from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $303.00 to $224.00 in a research note on Tuesday, July 22nd. BMO Capital Markets dropped their price target on lululemon athletica from $302.00 to $250.00 and set a "market perform" rating on the stock in a research note on Friday, June 6th. Finally, Barclays dropped their price target on lululemon athletica from $270.00 to $209.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $327.15.

Insiders Place Their Bets

In related news, CEO Calvin Mcdonald sold 27,049 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $235.69, for a total value of $6,375,178.81. Following the completion of the sale, the chief executive officer directly owned 110,564 shares of the company's stock, valued at $26,058,829.16. The trade was a 19.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

lululemon athletica Stock Performance

lululemon athletica stock traded down $5.30 during midday trading on Thursday, reaching $195.19. The stock had a trading volume of 4,034,136 shares, compared to its average volume of 3,145,994. lululemon athletica inc. has a twelve month low of $185.95 and a twelve month high of $423.32. The stock has a market capitalization of $23.39 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.71 and a beta of 1.16. The stock's 50-day simple moving average is $228.21 and its 200 day simple moving average is $289.57.

lululemon athletica (NASDAQ:LULU - Get Free Report) last issued its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 earnings per share for the quarter, meeting analysts' consensus estimates of $2.60. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.36 billion. During the same quarter last year, the firm earned $2.54 earnings per share. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts predict 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.