Dakota Wealth Management Lowers Stock Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Dakota Wealth Management reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 23.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,504 shares of the apparel retailer’s stock after selling 768 shares during the period. Dakota Wealth Management’s holdings in Lululemon Athletica were worth $679,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LULU. Larson Financial Group LLC grew its stake in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 43 shares during the period. Paladin Wealth LLC purchased a new stake in Lululemon Athletica in the 3rd quarter worth approximately $29,000. Versant Capital Management Inc grew its stake in Lululemon Athletica by 61.5% in the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 40 shares during the period. Ridgewood Investments LLC purchased a new stake in Lululemon Athletica in the 2nd quarter worth approximately $33,000. Finally, Dnca Finance purchased a new stake in Lululemon Athletica in the 2nd quarter worth approximately $34,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lululemon Athletica

In related news, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares of the company’s stock, valued at $1,670,918.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the transaction, the chief executive officer now owns 89,922 shares in the company, valued at approximately $23,379,720. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Lululemon Athletica Stock Performance

Shares of Lululemon Athletica stock opened at $304.15 on Monday. The firm has a market cap of $38.02 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 2.17 and a beta of 1.25. The firm’s 50-day simple moving average is $270.16 and its 200-day simple moving average is $293.48. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the firm earned $2.68 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities analysts predict that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Wall Street Analyst Weigh In

LULU has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Lululemon Athletica from $457.00 to $338.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and set a $300.00 price objective on shares of Lululemon Athletica in a research note on Monday, August 26th. Truist Financial reissued a “buy” rating and set a $310.00 price objective on shares of Lululemon Athletica in a research note on Wednesday, August 28th. Citigroup lowered their price objective on shares of Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, August 22nd. Finally, Piper Sandler boosted their price objective on shares of Lululemon Athletica from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $354.55.

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.