Patten & Patten Inc. TN Sells 233 Shares of Lululemon Athletica Inc. (NASDAQ:LULU)

Patten & Patten Inc. TN lessened its holdings in Lululemon Athletica Inc. (NASDAQ:LULU) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,134 shares of the apparel retailer’s stock after selling 233 shares during the quarter. Patten & Patten Inc. TN’s holdings in Lululemon Athletica were worth $3,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Investment Partners Asset Management Inc. bought a new position in Lululemon Athletica during the fourth quarter valued at about $275,000. Rockefeller Capital Management L.P. raised its stake in shares of Lululemon Athletica by 50.5% in the third quarter. Rockefeller Capital Management L.P. now owns 103,424 shares of the apparel retailer’s stock valued at $28,070,000 after buying an additional 34,704 shares during the period. Lebenthal Global Advisors LLC lifted its holdings in Lululemon Athletica by 138.1% during the fourth quarter. Lebenthal Global Advisors LLC now owns 2,698 shares of the apparel retailer’s stock valued at $1,032,000 after purchasing an additional 1,565 shares during the last quarter. Montag A & Associates Inc. boosted its holdings in Lululemon Athletica by 495.1% in the 4th quarter. Montag A & Associates Inc. now owns 4,255 shares of the apparel retailer’s stock worth $1,627,000 after buying an additional 3,540 shares during the period. Finally, Northeast Investment Management bought a new position in shares of Lululemon Athletica in the fourth quarter worth $276,000. 85.20% of the stock is owned by hedge funds and other institutional investors.

Lululemon Athletica Stock Performance

Shares of LULU stock opened at $311.03 on Friday. The company has a market capitalization of $37.88 billion, a P/E ratio of 22.46, a PEG ratio of 2.22 and a beta of 1.21. The stock has a 50 day moving average price of $376.79 and a two-hundred day moving average price of $334.60. Lululemon Athletica Inc. has a fifty-two week low of $226.01 and a fifty-two week high of $480.94.

Insider Buying and Selling at Lululemon Athletica

In other news, insider Nicole Neuburger sold 2,022 shares of Lululemon Athletica stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $387.11, for a total value of $782,736.42. Following the sale, the insider now directly owns 6,198 shares in the company, valued at approximately $2,399,307.78. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

LULU has been the topic of a number of recent research reports. TD Cowen increased their price objective on Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. Morgan Stanley increased their price target on shares of Lululemon Athletica from $414.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Raymond James reaffirmed an “outperform” rating and set a $430.00 price objective (up previously from $400.00) on shares of Lululemon Athletica in a research note on Wednesday, January 15th. Wells Fargo & Company increased their target price on shares of Lululemon Athletica from $350.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 15th. Finally, Stifel Nicolaus restated a “buy” rating and set a $438.00 price target (up from $370.00) on shares of Lululemon Athletica in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $399.14.

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.