Chevy Chase Trust Holdings LLC Trims Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Chevy Chase Trust Holdings LLC lowered its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,659 shares of the apparel retailer’s stock after selling 899 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Lululemon Athletica were worth $16,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Value Star Asset Management Hong Kong Ltd increased its holdings in shares of Lululemon Athletica by 19,890.3% during the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after buying an additional 4,630,466 shares during the last quarter. International Assets Investment Management LLC grew its position in Lululemon Athletica by 74,856.2% in the third quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after acquiring an additional 894,531 shares during the period. Maverick Capital Ltd. acquired a new stake in Lululemon Athletica during the third quarter worth $93,476,000. The Manufacturers Life Insurance Company lifted its stake in shares of Lululemon Athletica by 136.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock valued at $143,624,000 after purchasing an additional 305,302 shares during the last quarter. Finally, Southpoint Capital Advisors LP purchased a new position in shares of Lululemon Athletica during the 3rd quarter worth $81,405,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the transaction, the insider now directly owns 6,198 shares of the company’s stock, valued at $1,670,918.82. The trade was a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $340.66 on Wednesday. The company has a fifty day moving average of $300.23 and a two-hundred day moving average of $287.02. The company has a market capitalization of $41.83 billion, a PE ratio of 26.33, a P/E/G ratio of 2.43 and a beta of 1.23. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39.

Analyst Ratings Changes

LULU has been the topic of a number of recent analyst reports. Truist Financial upped their target price on shares of Lululemon Athletica from $310.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird increased their price objective on shares of Lululemon Athletica from $350.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Needham & Company LLC began coverage on Lululemon Athletica in a research report on Friday, November 22nd. They issued a “hold” rating on the stock. Raymond James lowered their price target on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, September 2nd. Finally, Citigroup cut their price objective on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $357.84.

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.