Ardevora Asset Management LLP Sells 15,890 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Ardevora Asset Management LLP trimmed its holdings in shares of Lululemon Athletica Inc. (NASDAQ:LULU - Free Report) by 57.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,003 shares of the apparel retailer's stock after selling 15,890 shares during the period. Ardevora Asset Management LLP's holdings in Lululemon Athletica were worth $6,137,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Daymark Wealth Partners LLC increased its stake in shares of Lululemon Athletica by 3.8% during the 4th quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer's stock worth $293,000 after purchasing an additional 21 shares in the last quarter. Simon Quick Advisors LLC increased its stake in shares of Lululemon Athletica by 1.9% during the 4th quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer's stock worth $612,000 after purchasing an additional 22 shares in the last quarter. Pinnacle Financial Partners Inc grew its stake in Lululemon Athletica by 1.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer's stock worth $646,000 after acquiring an additional 23 shares during the period. Baker Avenue Asset Management LP grew its stake in Lululemon Athletica by 11.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer's stock worth $97,000 after acquiring an additional 25 shares during the period. Finally, Sage Mountain Advisors LLC grew its stake in Lululemon Athletica by 3.3% in the 3rd quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer's stock worth $312,000 after acquiring an additional 26 shares during the period. 85.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LULU. BNP Paribas lowered shares of Lululemon Athletica from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $430.00 to $415.00 in a report on Friday, February 9th. Jefferies Financial Group reduced their target price on shares of Lululemon Athletica from $300.00 to $240.00 and set an "underperform" rating on the stock in a report on Thursday, April 4th. Citigroup reduced their target price on shares of Lululemon Athletica from $520.00 to $500.00 and set a "buy" rating on the stock in a report on Friday, March 22nd. Truist Financial dropped their price target on shares of Lululemon Athletica from $561.00 to $498.00 and set a "buy" rating on the stock in a research note on Monday, March 25th. Finally, Wells Fargo & Company dropped their price target on shares of Lululemon Athletica from $450.00 to $425.00 and set an "equal weight" rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of "Moderate Buy" and an average price target of $483.61.

Lululemon Athletica Stock Up 1.4 %

NASDAQ:LULU traded up $4.96 during trading hours on Friday, reaching $352.47. 2,470,408 shares of the company's stock were exchanged, compared to its average volume of 3,139,792. The company has a market capitalization of $44.41 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 1.25 and a beta of 1.30. Lululemon Athletica Inc. has a 12 month low of $326.93 and a 12 month high of $516.39. The business's 50-day simple moving average is $420.09 and its two-hundred day simple moving average is $439.38.

Lululemon Athletica (NASDAQ:LULU - Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 EPS for the quarter, beating the consensus estimate of $5.00 by $0.29. The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The firm's quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.40 EPS. As a group, sell-side analysts anticipate that Lululemon Athletica Inc. will post 14.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Martha A. M. Morfitt bought 700 shares of the business's stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $389.29 per share, for a total transaction of $272,503.00. Following the transaction, the director now directly owns 500 shares in the company, valued at $194,645. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.