Audent Global Asset Management LLC Trims Stock Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Audent Global Asset Management LLC lessened its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 45.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,070 shares of the apparel retailer’s stock after selling 1,752 shares during the quarter. Lululemon Athletica comprises approximately 1.0% of Audent Global Asset Management LLC’s portfolio, making the stock its 26th largest position. Audent Global Asset Management LLC’s holdings in Lululemon Athletica were worth $562,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LULU. Larson Financial Group LLC raised its position in shares of Lululemon Athletica by 78.2% during the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock valued at $29,000 after buying an additional 43 shares during the period. Paladin Wealth LLC purchased a new stake in Lululemon Athletica in the third quarter valued at approximately $29,000. Versant Capital Management Inc raised its position in Lululemon Athletica by 61.5% in the second quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares during the period. JFS Wealth Advisors LLC raised its position in Lululemon Athletica by 127.5% in the third quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 65 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in Lululemon Athletica in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Price Performance

NASDAQ LULU opened at $320.66 on Monday. Lululemon Athletica Inc. has a 1 year low of $226.01 and a 1 year high of $516.39. The company has a market capitalization of $39.37 billion, a PE ratio of 24.78, a P/E/G ratio of 2.33 and a beta of 1.24. The company has a fifty day moving average of $297.19 and a two-hundred day moving average of $287.01.

Lululemon Athletica (NASDAQ:LULU) last released its quarterly earnings data on Thursday, August 29th. The apparel retailer reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.22. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. Lululemon Athletica’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts expect that Lululemon Athletica Inc. will post 14.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Calvin Mcdonald purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $260.00 per share, with a total value of $1,040,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 89,922 shares in the company, valued at $23,379,720. This represents a 4.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was 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 in the company, valued at approximately $1,670,918.82. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

LULU has been the topic of a number of research analyst reports. TD Securities boosted their target price on Lululemon Athletica from $375.00 to $382.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Oppenheimer cut their target price on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Telsey Advisory Group cut their target price on Lululemon Athletica from $470.00 to $360.00 and set an “outperform” rating on the stock in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. 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 research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $356.03.

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.