Golden State Wealth Management LLC Purchases New Position in Lululemon Athletica Inc. (NASDAQ:LULU)

Golden State Wealth Management LLC bought a new position in shares of Lululemon Athletica Inc. (NASDAQ:LULU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93 shares of the apparel retailer’s stock, valued at approximately $36,000.

A number of other hedge funds also recently bought and sold shares of the stock. SeaCrest Wealth Management LLC lifted its holdings in Lululemon Athletica by 2.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 1,018 shares of the apparel retailer’s stock worth $389,000 after buying an additional 26 shares during the period. Mather Group LLC. lifted its holdings in Lululemon Athletica by 21.1% during the fourth quarter. Mather Group LLC. now owns 178 shares of the apparel retailer’s stock worth $68,000 after buying an additional 31 shares during the period. Adirondack Trust Co. lifted its holdings in Lululemon Athletica by 6.5% during the fourth quarter. Adirondack Trust Co. now owns 651 shares of the apparel retailer’s stock worth $249,000 after buying an additional 40 shares during the period. Sunbelt Securities Inc. lifted its holdings in Lululemon Athletica by 4.6% during the third quarter. Sunbelt Securities Inc. now owns 950 shares of the apparel retailer’s stock worth $258,000 after buying an additional 42 shares during the period. Finally, First Pacific Financial lifted its holdings in Lululemon Athletica by 1.4% during the fourth quarter. First Pacific Financial now owns 3,096 shares of the apparel retailer’s stock worth $1,184,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Lululemon Athletica Trading Down 0.5 %

Lululemon Athletica stock opened at $397.63 on Wednesday. The stock has a market cap of $48.42 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 2.51 and a beta of 1.19. The company has a fifty day simple moving average of $388.91 and a 200-day simple moving average of $317.65. Lululemon Athletica Inc. has a 12-month low of $226.01 and a 12-month high of $480.94.

Lululemon Athletica (NASDAQ:LULU) last announced its quarterly earnings results on Thursday, December 5th. The apparel retailer reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.18. Lululemon Athletica had a net margin of 17.05% and a return on equity of 42.16%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the company earned $2.53 earnings per share. Lululemon Athletica’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nicole Neuburger sold 2,022 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $387.11, for a total transaction of $782,736.42. Following the transaction, the insider now directly owns 6,198 shares in the company, valued at $2,399,307.78. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Celeste Burgoyne sold 24,870 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $405.54, for a total transaction of $10,085,779.80. Following the transaction, the insider now owns 12,429 shares in the company, valued at $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. Corporate insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

LULU has been the subject of several analyst reports. Guggenheim increased their price objective on Lululemon Athletica from $350.00 to $415.00 and gave the company a “buy” rating in a report on Friday, December 6th. TD Cowen increased their price objective on Lululemon Athletica from $382.00 to $383.00 in a report on Thursday, December 5th. JPMorgan Chase & Co. increased their price objective on Lululemon Athletica from $428.00 to $437.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Robert W. Baird increased their price objective on Lululemon Athletica from $380.00 to $440.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Lululemon Athletica from $292.00 to $396.00 and gave the company a “hold” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Lululemon Athletica presently has an average rating of “Moderate Buy” and an average target price of $399.14.

Lululemon Athletica 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.