Westside Investment Management Inc. Raises Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Westside Investment Management Inc. boosted its stake in Lululemon Athletica Inc. (NASDAQ:LULU) by 900.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 300 shares of the apparel retailer’s stock after purchasing an additional 270 shares during the period. Westside Investment Management Inc.’s holdings in Lululemon Athletica were worth $81,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Shepherd Financial Partners LLC purchased a new stake in shares of Lululemon Athletica during the third quarter worth about $953,000. XTX Topco Ltd lifted its holdings in Lululemon Athletica by 281.4% in the 2nd quarter. XTX Topco Ltd now owns 8,894 shares of the apparel retailer’s stock worth $2,657,000 after buying an additional 6,562 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Lululemon Athletica by 31.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 15,425 shares of the apparel retailer’s stock worth $4,607,000 after buying an additional 3,721 shares during the last quarter. Rheos Capital Works Inc. increased its stake in shares of Lululemon Athletica by 19.2% during the third quarter. Rheos Capital Works Inc. now owns 15,500 shares of the apparel retailer’s stock valued at $4,206,000 after buying an additional 2,500 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Lululemon Athletica by 198.8% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,860 shares of the apparel retailer’s stock valued at $1,844,000 after acquiring an additional 4,564 shares in the last quarter. Institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 2.6 %

Shares of LULU stock opened at $389.33 on Friday. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $516.39. The stock has a market capitalization of $47.80 billion, a P/E ratio of 28.11, a P/E/G ratio of 2.84 and a beta of 1.23. The firm’s 50 day moving average is $313.85 and its 200 day moving average is $290.16.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings data on Thursday, December 5th. The apparel retailer reported $2.87 EPS for the quarter, topping the consensus estimate of $2.69 by $0.18. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $2.53 earnings per share. Lululemon Athletica’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts predict that Lululemon Athletica Inc. will post 14.17 earnings per share for the current year.

Insider Transactions at Lululemon Athletica

In other Lululemon Athletica news, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total value of $131,020.74. Following the completion of the sale, the insider now owns 6,198 shares in the company, valued at $1,670,918.82. This represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Celeste Burgoyne sold 24,870 shares of Lululemon Athletica stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $405.54, for a total value of $10,085,779.80. Following the transaction, the insider now directly owns 12,429 shares in the company, valued at approximately $5,040,456.66. The trade was a 66.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Analyst Ratings Changes

LULU has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a report on Monday. Truist Financial boosted their price target on shares of Lululemon Athletica from $360.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Bank of America lowered their price objective on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a report on Friday, August 30th. KeyCorp upped their target price on Lululemon Athletica from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, TD Cowen raised their target price on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $377.63.

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.