Pinnacle Financial Partners Inc Sells 9,400 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Pinnacle Financial Partners Inc decreased its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 82.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,061 shares of the apparel retailer’s stock after selling 9,400 shares during the period. Pinnacle Financial Partners Inc’s holdings in Lululemon Athletica were worth $559,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LULU. Larson Financial Group LLC raised its stake 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 acquiring an additional 43 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Lululemon Athletica by 61.5% during the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares during the last quarter. Paladin Wealth LLC acquired a new position in Lululemon Athletica during the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC bought a new position in Lululemon Athletica in the 2nd quarter valued at approximately $33,000. Finally, Dnca Finance acquired a new stake in Lululemon Athletica in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LULU. KeyCorp cut their price target on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Piper Sandler boosted their target price on shares of Lululemon Athletica from $250.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $220.00 price target on shares of Lululemon Athletica in a research note on Thursday, July 25th. Wedbush decreased their price objective on Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a report on Wednesday, August 28th. Finally, Stifel Nicolaus cut their target price on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating, nine 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 an average rating of “Moderate Buy” and a consensus target price of $357.13.

Lululemon Athletica Price Performance

LULU opened at $330.26 on Friday. The firm has a market capitalization of $40.55 billion, a PE ratio of 25.52, a P/E/G ratio of 2.33 and a beta of 1.24. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $516.39. The company’s 50-day moving average is $283.50 and its 200 day moving average is $290.42.

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

Insider Activity

In other Lululemon Athletica news, CEO Calvin Mcdonald purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average cost of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at $23,379,720. The trade was a 4.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the transaction, the insider now directly owns 6,198 shares in the company, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

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.