Pinnacle Financial Partners Inc Sells 9,400 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Pinnacle Financial Partners Inc cut its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 82.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,061 shares of the apparel retailer’s stock after selling 9,400 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Lululemon Athletica were worth $559,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised 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 valued at $29,000 after acquiring an additional 43 shares during the period. Versant Capital Management Inc raised its position in shares of 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. Paladin Wealth LLC purchased a new stake in shares of Lululemon Athletica during the 3rd quarter valued at approximately $29,000. Ridgewood Investments LLC bought a new position in Lululemon Athletica in the 2nd quarter worth approximately $33,000. Finally, Dnca Finance purchased a new position in Lululemon Athletica in the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LULU shares. Robert W. Baird increased their target price on Lululemon Athletica from $350.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. KeyCorp cut their target price on Lululemon Athletica from $415.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. The Goldman Sachs Group cut Lululemon Athletica from a “buy” rating to a “neutral” rating and decreased their price target for the company from $463.00 to $286.00 in a research report on Friday, August 2nd. Barclays lowered their price target on shares of Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating on the stock in a report on Friday, August 30th. Finally, Wedbush reduced their price objective on shares of Lululemon Athletica from $400.00 to $324.00 and set an “outperform” rating for the company in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $357.13.

Lululemon Athletica Price Performance

Shares of Lululemon Athletica stock opened at $330.26 on Friday. Lululemon Athletica Inc. has a one year low of $226.01 and a one year high of $516.39. The business’s 50 day simple moving average is $283.50 and its two-hundred day simple moving average is $290.42. The stock has a market capitalization of $40.55 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 EPS. Sell-side analysts expect that Lululemon Athletica Inc. will post 14.02 earnings per share for the current fiscal year.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $260.00 per share, for a total transaction 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. The trade was a 4.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

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.