Wealthfront Advisers LLC Trims Stock Holdings in lululemon athletica inc. (NASDAQ:LULU)

Wealthfront Advisers LLC trimmed its holdings in lululemon athletica inc. (NASDAQ:LULU - Free Report) by 22.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,933 shares of the apparel retailer's stock after selling 1,732 shares during the period. Wealthfront Advisers LLC's holdings in lululemon athletica were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in LULU. Brighton Jones LLC purchased a new position in lululemon athletica during the fourth quarter worth about $429,000. Harbour Investments Inc. boosted its holdings in lululemon athletica by 80.0% during the fourth quarter. Harbour Investments Inc. now owns 189 shares of the apparel retailer's stock worth $72,000 after purchasing an additional 84 shares during the last quarter. Royal London Asset Management Ltd. raised its position in lululemon athletica by 2.7% in the fourth quarter. Royal London Asset Management Ltd. now owns 66,437 shares of the apparel retailer's stock worth $25,406,000 after acquiring an additional 1,721 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in lululemon athletica by 5.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 13,253 shares of the apparel retailer's stock worth $5,068,000 after acquiring an additional 722 shares during the period. Finally, Mizuho Securities USA LLC raised its position in lululemon athletica by 43.6% in the fourth quarter. Mizuho Securities USA LLC now owns 10,706 shares of the apparel retailer's stock worth $4,094,000 after acquiring an additional 3,249 shares during the period. 85.20% of the stock is owned by institutional investors.

lululemon athletica Trading Up 0.5%

lululemon athletica stock traded up $1.17 during midday trading on Tuesday, reaching $224.38. 2,134,649 shares of the stock traded hands, compared to its average volume of 2,375,140. The company has a 50-day simple moving average of $269.27 and a two-hundred day simple moving average of $311.00. lululemon athletica inc. has a 12-month low of $216.81 and a 12-month high of $423.32. The firm has a market cap of $26.89 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.95 and a beta of 1.17.

lululemon athletica (NASDAQ:LULU - Get Free Report) last posted its quarterly 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. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter last year, the company earned $2.54 EPS. lululemon athletica's revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that lululemon athletica inc. will post 14.36 earnings per share for the current year.

Insider Activity

In other news, CEO Calvin Mcdonald sold 27,049 shares of the business's stock in a transaction that occurred 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of lululemon athletica from $280.00 to $315.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. KeyCorp reduced their target price on shares of lululemon athletica from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, June 6th. Raymond James Financial reiterated a "market perform" rating and issued a $430.00 target price on shares of lululemon athletica in a research note on Friday, March 28th. Truist Financial reduced their target price on shares of lululemon athletica from $297.00 to $290.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Finally, CICC Research reiterated a "market perform" rating and issued a $280.49 target price on shares of lululemon athletica in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, lululemon athletica presently has an average rating of "Moderate Buy" and a consensus target price of $337.53.

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.