Patten & Patten Inc. TN Cuts Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Patten & Patten Inc. TN reduced its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,134 shares of the apparel retailer’s stock after selling 233 shares during the period. Patten & Patten Inc. TN’s holdings in Lululemon Athletica were worth $3,875,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Apollon Wealth Management LLC raised its holdings in Lululemon Athletica by 29.1% in the third quarter. Apollon Wealth Management LLC now owns 2,561 shares of the apparel retailer’s stock worth $695,000 after buying an additional 577 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Lululemon Athletica by 11.3% in the 3rd quarter. Victory Capital Management Inc. now owns 103,577 shares of the apparel retailer’s stock worth $28,106,000 after acquiring an additional 10,499 shares during the last quarter. Metis Global Partners LLC lifted its position in Lululemon Athletica by 8.7% in the 3rd quarter. Metis Global Partners LLC now owns 6,083 shares of the apparel retailer’s stock valued at $1,651,000 after acquiring an additional 488 shares in the last quarter. ING Groep NV boosted its stake in Lululemon Athletica by 56.5% during the 3rd quarter. ING Groep NV now owns 23,594 shares of the apparel retailer’s stock valued at $6,402,000 after purchasing an additional 8,521 shares during the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of Lululemon Athletica by 10.5% in the third quarter. Impax Asset Management Group plc now owns 28,165 shares of the apparel retailer’s stock worth $7,643,000 after purchasing an additional 2,676 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Buying and Selling at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total transaction of $782,736.42. Following the completion of the transaction, the insider now owns 6,198 shares in the company, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LULU shares. Wells Fargo & Company increased their price objective on shares of Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 15th. Sanford C. Bernstein raised shares of Lululemon Athletica from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $360.00 to $460.00 in a report on Tuesday, January 7th. Robert W. Baird increased their price target on Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Citigroup lifted their price objective on shares of Lululemon Athletica from $270.00 to $380.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Lululemon Athletica from $428.00 to $437.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $399.14.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $311.03 on Friday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $480.94. The business has a 50 day simple moving average of $376.79 and a two-hundred day simple moving average of $334.60. The firm has a market capitalization of $37.88 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21.

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.