Fred Alger Management LLC Sells 102,627 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Fred Alger Management LLC trimmed its position in shares of Lululemon Athletica Inc. (NASDAQ:LULU – Get Rating) by 58.3% during the third quarter, HoldingsChannel reports. The firm owned 73,430 shares of the apparel retailer’s stock after selling 102,627 shares during the quarter. Fred Alger Management LLC’s holdings in Lululemon Athletica were worth $20,528,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Lululemon Athletica by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,048,356 shares of the apparel retailer’s stock valued at $1,970,439,000 after acquiring an additional 60,752 shares in the last quarter. Jennison Associates LLC increased its stake in Lululemon Athletica by 8.4% in the 3rd quarter. Jennison Associates LLC now owns 4,887,522 shares of the apparel retailer’s stock valued at $1,366,356,000 after buying an additional 379,707 shares during the last quarter. State Street Corp increased its stake in Lululemon Athletica by 0.7% in the 3rd quarter. State Street Corp now owns 2,641,033 shares of the apparel retailer’s stock valued at $738,327,000 after buying an additional 17,419 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Lululemon Athletica by 11.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,963,850 shares of the apparel retailer’s stock valued at $549,014,000 after buying an additional 205,995 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Lululemon Athletica by 9.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,466,718 shares of the apparel retailer’s stock valued at $410,037,000 after buying an additional 122,757 shares during the last quarter. 82.04% of the stock is owned by institutional investors.

Lululemon Athletica Trading Up 0.8 %

Shares of Lululemon Athletica stock opened at $295.10 on Wednesday. The company has a 50 day moving average of $312.52 and a 200-day moving average of $321.35. Lululemon Athletica Inc. has a 1-year low of $251.51 and a 1-year high of $410.70. The company has a market cap of $37.63 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 1.31 and a beta of 1.35.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LULU shares. Telsey Advisory Group lowered their price target on shares of Lululemon Athletica from $470.00 to $425.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 10th. Cowen lowered their price target on shares of Lululemon Athletica from $516.00 to $488.00 in a research note on Tuesday, January 10th. Guggenheim lowered their price target on shares of Lululemon Athletica from $475.00 to $400.00 in a research note on Tuesday, January 10th. Raymond James boosted their price objective on shares of Lululemon Athletica from $345.00 to $438.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, December 6th. Finally, Oppenheimer boosted their price objective on shares of Lululemon Athletica from $393.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $403.10.

Lululemon Athletica Profile

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lululemon athletica, Inc engages in the designing, distributing and retail of athletic apparel and accessories. It operates through the following business segments: Company-Operated Stores, Direct to Consumer. The Company-Operated Stores segment comprises lululemon and ivivva brands; and specialize in athletic wear for female youth.