Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Ieq Capital LLC

Ieq Capital LLC lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,974 shares of the apparel retailer’s stock after selling 127 shares during the quarter. Ieq Capital LLC’s holdings in Lululemon Athletica were worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Tidemark LLC acquired a new stake in Lululemon Athletica during the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in shares of Lululemon Athletica during the fourth quarter worth about $26,000. Benjamin Edwards Inc. boosted its position in shares of Lululemon Athletica by 176.0% in the 1st quarter. Benjamin Edwards Inc. now owns 69 shares of the apparel retailer’s stock valued at $27,000 after purchasing an additional 44 shares during the period. Riverview Trust Co purchased a new position in Lululemon Athletica during the 1st quarter worth approximately $29,000. Finally, Larson Financial Group LLC increased its position in Lululemon Athletica by 78.2% during the second quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price objective on Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Citigroup lowered their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. HSBC raised shares of Lululemon Athletica from a “hold” rating to a “buy” rating and upped their target price for the company from $405.00 to $425.00 in a report on Thursday, June 6th. Telsey Advisory Group lowered their price target on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.94.

Insider Activity

In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of NASDAQ:LULU opened at $262.61 on Friday. The business’s fifty day moving average price is $259.72 and its two-hundred day moving average price is $318.42. The stock has a market cap of $32.83 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.38 and a beta of 1.25. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter last year, the company earned $2.68 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, equities research analysts predict that Lululemon Athletica Inc. will post 14.03 earnings per share for the current fiscal year.

Lululemon Athletica announced that its Board of Directors has approved a share buyback plan on Wednesday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the apparel retailer to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.