abrdn plc Sells 346,756 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

abrdn plc lowered its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 53.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 303,369 shares of the apparel retailer’s stock after selling 346,756 shares during the period. abrdn plc owned 0.24% of Lululemon Athletica worth $155,110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LULU. Daymark Wealth Partners LLC boosted its stake in Lululemon Athletica by 3.8% in the fourth quarter. Daymark Wealth Partners LLC now owns 573 shares of the apparel retailer’s stock valued at $293,000 after buying an additional 21 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in shares of Lululemon Athletica by 1.9% during the fourth quarter. Simon Quick Advisors LLC now owns 1,196 shares of the apparel retailer’s stock valued at $612,000 after purchasing an additional 22 shares in the last quarter. Pinnacle Financial Partners Inc boosted its stake in shares of Lululemon Athletica by 1.9% during the fourth quarter. Pinnacle Financial Partners Inc now owns 1,263 shares of the apparel retailer’s stock valued at $646,000 after purchasing an additional 23 shares in the last quarter. Baker Avenue Asset Management LP boosted its stake in shares of Lululemon Athletica by 11.1% during the third quarter. Baker Avenue Asset Management LP now owns 251 shares of the apparel retailer’s stock valued at $97,000 after purchasing an additional 25 shares in the last quarter. Finally, Sage Mountain Advisors LLC boosted its stake in shares of Lululemon Athletica by 3.3% during the third quarter. Sage Mountain Advisors LLC now owns 809 shares of the apparel retailer’s stock valued at $312,000 after purchasing an additional 26 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Up 1.4 %

Shares of NASDAQ:LULU traded up $4.96 during mid-day trading on Friday, hitting $352.47. 2,470,408 shares of the company traded hands, compared to its average volume of 3,139,792. The stock has a market cap of $44.41 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.23 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 stock has a 50-day moving average price of $420.09 and a two-hundred day moving average price of $438.41.

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

Insiders Place Their Bets

In other Lululemon Athletica news, Director Martha A. M. Morfitt acquired 700 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $194,645. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Lululemon Athletica from $531.00 to $509.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Jefferies Financial Group lowered their price objective on Lululemon Athletica from $300.00 to $240.00 and set an “underperform” rating for the company in a research report on Thursday, April 4th. Raymond James raised their price objective on Lululemon Athletica from $495.00 to $520.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 10th. Robert W. Baird lowered their price objective on Lululemon Athletica from $555.00 to $505.00 and set an “outperform” rating for the company in a research report on Friday. Finally, KeyCorp lowered their price objective on Lululemon Athletica from $570.00 to $515.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Lululemon Athletica presently has an average rating of “Moderate Buy” and a consensus target price of $483.61.

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.