Easterly Investment Partners LLC Sells 18,491 Shares of lululemon athletica inc. (NASDAQ:LULU)

Easterly Investment Partners LLC cut its stake in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 89.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,150 shares of the apparel retailer's stock after selling 18,491 shares during the quarter. Easterly Investment Partners LLC's holdings in lululemon athletica were worth $609,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LULU. Cornerstone Planning Group LLC raised its holdings in lululemon athletica by 506.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the apparel retailer's stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in shares of lululemon athletica during the 4th quarter valued at $30,000. Garde Capital Inc. bought a new stake in shares of lululemon athletica during the 1st quarter valued at $35,000. MV Capital Management Inc. boosted its holdings in shares of lululemon athletica by 66.1% during the 4th quarter. MV Capital Management Inc. now owns 93 shares of the apparel retailer's stock valued at $36,000 after buying an additional 37 shares in the last quarter. Finally, CENTRAL TRUST Co boosted its holdings in shares of lululemon athletica by 154.9% during the 1st quarter. CENTRAL TRUST Co now owns 130 shares of the apparel retailer's stock valued at $37,000 after buying an additional 79 shares in the last quarter. 85.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America dropped their target price on shares of lululemon athletica from $400.00 to $370.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Piper Sandler boosted their target price on shares of lululemon athletica from $280.00 to $315.00 and gave the company a "neutral" rating in a report on Tuesday, June 3rd. BMO Capital Markets lowered their price target on 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. BTIG Research lowered their price target on lululemon athletica from $420.00 to $405.00 and set a "buy" rating for the company in a research report on Friday, June 6th. Finally, Stifel Nicolaus lowered their price target on lululemon athletica from $353.00 to $324.00 and set a "buy" rating for the company in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $340.26.

lululemon athletica Price Performance

Shares of NASDAQ LULU traded down $3.54 during midday trading on Friday, reaching $229.77. 2,549,354 shares of the stock traded hands, compared to its average volume of 2,373,318. The stock has a market capitalization of $27.54 billion, a PE ratio of 15.57, a P/E/G ratio of 1.95 and a beta of 1.17. lululemon athletica inc. has a one year low of $219.97 and a one year high of $423.32. The company's 50 day moving average is $269.27 and its 200 day moving average is $311.43.

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 analysts' consensus estimates of $2.60. The company had revenue of $2.37 billion during 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 revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $2.54 earnings per share. As a group, equities analysts forecast that lululemon athletica inc. will post 14.36 EPS for the current year.

Insider Transactions at lululemon athletica

In other lululemon athletica news, CEO Calvin Mcdonald sold 27,049 shares of the stock in a transaction on 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 in the company, valued at $26,058,829.16. This trade represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently 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.