Lululemon Athletica Inc. (NASDAQ:LULU) Shares Sold by Pinpoint Asset Management Ltd

Pinpoint Asset Management Ltd trimmed its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 88.2% during the third quarter, HoldingsChannel.com reports. The firm owned 200 shares of the apparel retailer’s stock after selling 1,493 shares during the period. Pinpoint Asset Management Ltd’s holdings in Lululemon Athletica were worth $54,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LULU. NFJ Investment Group LLC raised its stake in Lululemon Athletica by 5.2% during the third quarter. NFJ Investment Group LLC now owns 36,391 shares of the apparel retailer’s stock valued at $9,875,000 after buying an additional 1,785 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of Lululemon Athletica by 15.3% in the 3rd quarter. IHT Wealth Management LLC now owns 5,045 shares of the apparel retailer’s stock valued at $1,367,000 after acquiring an additional 669 shares during the last quarter. Incline Global Management LLC acquired a new stake in shares of Lululemon Athletica during the 3rd quarter valued at approximately $10,550,000. Investment Management Corp of Ontario lifted its stake in Lululemon Athletica by 46.6% during the third quarter. Investment Management Corp of Ontario now owns 3,777 shares of the apparel retailer’s stock worth $1,025,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Harmony Asset Management LLC bought a new stake in Lululemon Athletica during the third quarter valued at $217,000. 85.20% of the stock is currently owned by hedge funds and other institutional investors.

Lululemon Athletica Price Performance

LULU stock opened at $340.66 on Wednesday. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The firm has a market cap of $41.83 billion, a PE ratio of 26.33, a P/E/G ratio of 2.43 and a beta of 1.23. The firm has a 50 day simple moving average of $300.23 and a 200 day simple moving average of $287.02.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LULU. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lululemon Athletica from $291.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Guggenheim cut their target price on shares of Lululemon Athletica from $525.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Oppenheimer lowered their target price on Lululemon Athletica from $445.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Bank of America cut their price target on Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Needham & Company LLC initiated coverage on Lululemon Athletica in a research report on Friday, November 22nd. They set a “hold” rating for the company. Two research 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. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and an average target price of $357.84.

Insider Activity at Lululemon Athletica

In other Lululemon Athletica news, 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 transaction of $131,020.74. Following the completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

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.