Wells Fargo & Company MN Has $159.89 Million Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Wells Fargo & Company MN cut its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 312,726 shares of the apparel retailer’s stock after selling 11,607 shares during the quarter. Wells Fargo & Company MN’s holdings in Lululemon Athletica were worth $159,893,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Valley National Advisers Inc. grew its stake in Lululemon Athletica by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock worth $25,000 after buying an additional 42 shares in the last quarter. Milestone Investment Advisors LLC acquired a new stake in Lululemon Athletica during the third quarter worth about $27,000. Morton Brown Family Wealth LLC acquired a new stake in Lululemon Athletica during the fourth quarter worth about $31,000. Farmers & Merchants Investments Inc. acquired a new stake in Lululemon Athletica during the fourth quarter worth about $40,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Lululemon Athletica during the fourth quarter worth about $40,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, Director Martha A. M. Morfitt purchased 700 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $389.29 per share, with a total value of $272,503.00. Following the transaction, the director now owns 500 shares in the company, valued at approximately $194,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Lululemon Athletica Stock Down 4.3 %

NASDAQ:LULU opened at $309.00 on Wednesday. The company has a fifty day moving average of $373.44 and a 200-day moving average of $433.23. The firm has a market capitalization of $38.94 billion, a P/E ratio of 26.45, a P/E/G ratio of 1.16 and a beta of 1.30. Lululemon Athletica Inc. has a twelve month low of $309.00 and a twelve month high of $516.39.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, beating the consensus estimate of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. Lululemon Athletica’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.40 EPS. On average, analysts anticipate that Lululemon Athletica Inc. will post 14.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein reduced their price objective on shares of Lululemon Athletica from $430.00 to $384.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Evercore ISI reduced their price target on shares of Lululemon Athletica from $575.00 to $515.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Piper Sandler reduced their price target on shares of Lululemon Athletica from $525.00 to $470.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Truist Financial reduced their price target on shares of Lululemon Athletica from $561.00 to $498.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Wells Fargo & Company reduced their price target on shares of Lululemon Athletica from $450.00 to $425.00 and set an “equal weight” rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $474.79.

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.