Alpha Cubed Investments LLC Reduces Position in lululemon athletica inc. (NASDAQ:LULU)

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

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

Insider Activity at lululemon athletica

In related news, CEO Calvin Mcdonald sold 27,049 shares of lululemon athletica stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $235.69, for a total transaction of $6,375,178.81. Following the transaction, the chief executive officer directly owned 110,564 shares of the company's stock, valued at $26,058,829.16. This trade represents a 19.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LULU shares. Wells Fargo & Company reissued an "equal weight" rating on shares of lululemon athletica in a research report on Friday, June 6th. Evercore ISI raised their price objective on shares of lululemon athletica from $320.00 to $400.00 and gave the stock an "outperform" rating in a report on Tuesday, June 3rd. Jefferies Financial Group dropped their price objective on shares of lululemon athletica from $220.00 to $200.00 and set an "underperform" rating on the stock in a report on Friday, June 6th. CICC Research reissued a "market perform" rating and issued a $280.49 price objective on shares of lululemon athletica in a report on Monday, June 9th. Finally, Cfra Research upgraded shares of lululemon athletica from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $340.26.

lululemon athletica Stock Up 1.1%

LULU stock traded up $2.63 during mid-day trading on Thursday, hitting $238.52. The company had a trading volume of 2,594,595 shares, compared to its average volume of 2,339,981. The company has a market capitalization of $28.59 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 2.02 and a beta of 1.17. lululemon athletica inc. has a 12-month low of $219.97 and a 12-month high of $423.32. The company has a 50-day moving average price of $275.63 and a 200 day moving average price of $319.36.

lululemon athletica (NASDAQ:LULU - Get Free Report) last posted its earnings results on Thursday, June 5th. The apparel retailer reported $2.60 EPS for the quarter, hitting analysts' consensus estimates of $2.60. The company 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%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.54 earnings per share. As a group, analysts expect that lululemon athletica inc. will post 14.36 EPS for the current 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.