lululemon athletica inc. (NASDAQ:LULU) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its holdings in shares of lululemon athletica inc. (NASDAQ:LULU - Free Report) by 15.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,588 shares of the apparel retailer's stock after selling 1,193 shares during the quarter. Wedbush Securities Inc.'s holdings in lululemon athletica were worth $1,865,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Twin Capital Management Inc. increased its position in lululemon athletica by 58.3% during the first quarter. Twin Capital Management Inc. now owns 3,676 shares of the apparel retailer's stock worth $1,041,000 after buying an additional 1,354 shares during the period. Narwhal Capital Management increased its position in lululemon athletica by 262.7% during the first quarter. Narwhal Capital Management now owns 18,777 shares of the apparel retailer's stock worth $5,315,000 after buying an additional 13,600 shares during the period. Sawgrass Asset Management LLC acquired a new position in lululemon athletica during the first quarter worth approximately $9,209,000. Flossbach Von Storch SE increased its holdings in shares of 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 during the period. Finally, Bender Robert & Associates increased its holdings in shares of lululemon athletica by 18.5% in the first quarter. Bender Robert & Associates now owns 44,961 shares of the apparel retailer's stock valued at $12,727,000 after purchasing an additional 7,028 shares during the period. Hedge funds and other institutional investors own 85.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LULU. Bank of America dropped their target price on lululemon athletica from $400.00 to $370.00 and set a "buy" rating on the stock in a report on Friday, June 6th. Morgan Stanley reissued an "equal weight" rating and issued a $280.00 target price (down previously from $346.00) on shares of lululemon athletica in a report on Monday, June 9th. JPMorgan Chase & Co. lowered lululemon athletica from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $303.00 to $224.00 in a report on Tuesday. BMO Capital Markets dropped their price objective on lululemon athletica from $302.00 to $250.00 and set a "market perform" rating on the stock in a report on Friday, June 6th. Finally, Truist Financial dropped their price objective on lululemon athletica from $297.00 to $290.00 and set a "buy" rating on the stock in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $337.53.

lululemon athletica Trading Down 2.4%

Shares of NASDAQ:LULU traded down $5.34 on Thursday, hitting $218.69. The company had a trading volume of 3,468,988 shares, compared to its average volume of 3,084,931. The company has a market cap of $26.21 billion, a PE ratio of 14.82, a PEG ratio of 1.90 and a beta of 1.17. The business has a 50 day moving average of $262.08 and a 200 day moving average of $307.52. lululemon athletica inc. has a 52-week low of $218.45 and a 52-week 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 EPS for the quarter, meeting the consensus estimate of $2.60. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. lululemon athletica had a return on equity of 43.48% and a net margin of 16.82%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.54 earnings per share. As a group, equities analysts predict that lululemon athletica inc. will post 14.36 EPS for the current year.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald sold 27,049 shares of the company's 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 completion of the transaction, the chief executive officer directly owned 110,564 shares in the company, valued at approximately $26,058,829.16. This represents a 19.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company's stock.

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.