Alpha Cubed Investments LLC Sells 4,661 Shares of lululemon athletica inc. (NASDAQ:LULU)

Alpha Cubed Investments LLC cut its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,640 shares of the apparel retailer's stock after selling 4,661 shares during the period. Alpha Cubed Investments LLC's holdings in lululemon athletica were worth $8,956,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Edgestream Partners L.P. boosted its position in lululemon athletica by 0.7% in the 4th quarter. Edgestream Partners L.P. now owns 3,539 shares of the apparel retailer's stock valued at $1,353,000 after buying an additional 25 shares during the last quarter. Dnca Finance boosted its position in lululemon athletica by 15.1% in the 4th quarter. Dnca Finance now owns 198 shares of the apparel retailer's stock valued at $76,000 after buying an additional 26 shares during the last quarter. Lido Advisors LLC boosted its position in lululemon athletica by 1.9% in the 4th quarter. Lido Advisors LLC now owns 1,748 shares of the apparel retailer's stock valued at $668,000 after buying an additional 32 shares during the last quarter. Assetmark Inc. boosted its position in lululemon athletica by 2.0% in the 4th quarter. Assetmark Inc. now owns 1,651 shares of the apparel retailer's stock valued at $631,000 after buying an additional 33 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its position in lululemon athletica by 0.6% in the 4th quarter. Belpointe Asset Management LLC now owns 6,138 shares of the apparel retailer's stock valued at $2,347,000 after buying an additional 36 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

lululemon athletica Stock Down 1.1%

Shares of NASDAQ:LULU traded down $2.65 during midday trading on Wednesday, reaching $235.89. The company had a trading volume of 3,228,850 shares, compared to its average volume of 2,338,961. The business's 50 day moving average price is $275.63 and its 200 day moving average price is $319.36. The stock has a market cap of $28.27 billion, a PE ratio of 15.98, a P/E/G ratio of 2.02 and a beta of 1.17. lululemon athletica inc. has a 1-year low of $219.97 and a 1-year high of $423.32.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on LULU shares. Stifel Nicolaus decreased their price objective on lululemon athletica from $353.00 to $324.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. Needham & Company LLC reduced their price target on lululemon athletica from $366.00 to $317.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. BTIG Research reduced their price target on lululemon athletica from $420.00 to $405.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. Barclays reduced their price target on lululemon athletica from $276.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Monday, June 9th. Finally, Truist Financial reduced their price target on lululemon athletica from $297.00 to $290.00 and set a "buy" rating on the stock in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $340.26.

Insider Activity

In related news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica 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 sale, the chief executive officer owned 110,564 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% 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.