Verition Fund Management LLC Sells 21,547 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Verition Fund Management LLC trimmed its position in Lululemon Athletica Inc. (NASDAQ:LULU) by 58.2% during the third quarter, Holdings Channel reports. The institutional investor owned 15,503 shares of the apparel retailer’s stock after selling 21,547 shares during the quarter. Verition Fund Management LLC’s holdings in Lululemon Athletica were worth $4,207,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Value Star Asset Management Hong Kong Ltd boosted its position in shares of Lululemon Athletica by 19,890.3% in the 2nd quarter. Value Star Asset Management Hong Kong Ltd now owns 4,653,746 shares of the apparel retailer’s stock worth $1,390,074,000 after purchasing an additional 4,630,466 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Lululemon Athletica by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 1,769,096 shares of the apparel retailer’s stock worth $528,429,000 after purchasing an additional 82,731 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Lululemon Athletica by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,040,384 shares of the apparel retailer’s stock worth $310,763,000 after purchasing an additional 37,239 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Lululemon Athletica by 74,856.2% in the 3rd quarter. International Assets Investment Management LLC now owns 895,726 shares of the apparel retailer’s stock worth $243,055,000 after purchasing an additional 894,531 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Lululemon Athletica by 38.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 737,872 shares of the apparel retailer’s stock worth $220,423,000 after purchasing an additional 203,882 shares during the last quarter. 85.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Nicole Neuburger sold 486 shares of Lululemon Athletica 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.

Lululemon Athletica Stock Performance

Lululemon Athletica stock opened at $340.66 on Wednesday. Lululemon Athletica Inc. has a 52 week low of $226.01 and a 52 week high of $516.39. The stock has a market capitalization of $41.83 billion, a P/E ratio of 26.33, a PEG ratio of 2.43 and a beta of 1.23. The stock has a 50-day simple moving average of $300.23 and a 200 day simple moving average of $287.02.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LULU shares. UBS Group reduced their target price on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Jefferies Financial Group reiterated an “underperform” rating and set a $220.00 target price on shares of Lululemon Athletica in a report on Monday. TD Securities lifted their target price on Lululemon Athletica from $382.00 to $383.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup reduced their target price on Lululemon Athletica from $300.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Finally, TD Cowen reduced their target price on Lululemon Athletica from $420.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $357.84.

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.