Confluence Investment Management LLC Sells 247 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Confluence Investment Management LLC reduced its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,842 shares of the apparel retailer’s stock after selling 247 shares during the quarter. Confluence Investment Management LLC’s holdings in Lululemon Athletica were worth $11,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LULU. Larson Financial Group LLC increased its stake in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after buying an additional 43 shares in the last quarter. Paladin Wealth LLC bought a new position in shares of Lululemon Athletica in the third quarter worth about $29,000. JFS Wealth Advisors LLC grew its position in shares of Lululemon Athletica by 127.5% during the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after purchasing an additional 65 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in Lululemon Athletica by 66.7% during the 2nd quarter. HHM Wealth Advisors LLC now owns 115 shares of the apparel retailer’s stock valued at $34,000 after purchasing an additional 46 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Lululemon Athletica in the 2nd quarter worth approximately $36,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lululemon Athletica

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Lululemon Athletica from $260.00 to $340.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Guggenheim lifted their price target on shares of Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI increased their price objective on shares of Lululemon Athletica from $300.00 to $355.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on Lululemon Athletica from $292.00 to $396.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, Oppenheimer dropped their price target on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Lululemon Athletica currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Lululemon Athletica Price Performance

LULU stock traded down $3.15 during mid-day trading on Thursday, reaching $379.26. The company had a trading volume of 349,871 shares, compared to its average volume of 2,096,786. The firm has a 50 day moving average of $344.28 and a 200 day moving average of $298.05. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $503.95. The company has a market capitalization of $46.19 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 2.78 and a beta of 1.23.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.18. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 earnings per share. Analysts anticipate that Lululemon Athletica Inc. will post 14.17 EPS for the current year.

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.