Lululemon Athletica (NASDAQ:LULU) Stock Price Down 4.5% – Here’s What Happened

Lululemon Athletica Inc. (NASDAQ:LULU)’s stock price was down 4.5% on Friday . The company traded as low as $378.59 and last traded at $373.07. Approximately 309,511 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,505,155 shares. The stock had previously closed at $390.85.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler raised their price objective on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Citigroup lifted their target price on Lululemon Athletica from $270.00 to $380.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Robert W. Baird lifted their price target on shares of Lululemon Athletica from $380.00 to $440.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Truist Financial lifted their price target on Lululemon Athletica from $420.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Raymond James reiterated an “outperform” rating and issued a $430.00 target price (up from $400.00) on shares of Lululemon Athletica in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and a consensus target price of $399.14.

Lululemon Athletica Price Performance

The company has a market cap of $44.65 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 2.51 and a beta of 1.19. The firm has a fifty day simple moving average of $391.37 and a 200 day simple moving average of $320.44.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.36 billion. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $2.53 EPS. Analysts expect that Lululemon Athletica Inc. will post 14.36 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 2,022 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $387.11, for a total value of $782,736.42. Following the completion of the sale, the insider now directly owns 6,198 shares of the company’s stock, valued at $2,399,307.78. This represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Celeste Burgoyne sold 24,870 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares in the company, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lululemon Athletica

Institutional investors have recently added to or reduced their stakes in the company. Shepherd Financial Partners LLC bought a new stake in shares of Lululemon Athletica in the 3rd quarter worth approximately $953,000. Investment Partners Asset Management Inc. bought a new position in Lululemon Athletica in the fourth quarter worth $275,000. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Lululemon Athletica by 198.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock worth $1,844,000 after buying an additional 4,564 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Lululemon Athletica by 50.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after buying an additional 34,704 shares during the period. Finally, Rakuten Securities Inc. raised its stake in shares of Lululemon Athletica by 876.8% in the 3rd quarter. Rakuten Securities Inc. now owns 2,022 shares of the apparel retailer’s stock valued at $549,000 after buying an additional 1,815 shares in the last quarter. 85.20% of the stock is owned by institutional investors and hedge funds.

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.