Avestar Capital LLC Acquires Shares of 1,050 Lululemon Athletica Inc. (NASDAQ:LULU)

Avestar Capital LLC purchased a new position in Lululemon Athletica Inc. (NASDAQ:LULU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,050 shares of the apparel retailer’s stock, valued at approximately $285,000.

Several other hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group raised its stake in shares of Lululemon Athletica by 47.0% in the third quarter. Brooklyn Investment Group now owns 826 shares of the apparel retailer’s stock worth $224,000 after purchasing an additional 264 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Lululemon Athletica by 13.1% in the third quarter. D.A. Davidson & CO. now owns 3,074 shares of the apparel retailer’s stock worth $834,000 after purchasing an additional 356 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Lululemon Athletica by 136.3% in the third quarter. The Manufacturers Life Insurance Company now owns 529,295 shares of the apparel retailer’s stock worth $143,624,000 after purchasing an additional 305,302 shares during the last quarter. Qsemble Capital Management LP purchased a new position in shares of Lululemon Athletica in the third quarter worth $210,000. Finally, Truvestments Capital LLC raised its stake in shares of Lululemon Athletica by 59.2% in the third quarter. Truvestments Capital LLC now owns 1,909 shares of the apparel retailer’s stock worth $518,000 after purchasing an additional 710 shares during the last quarter. Hedge funds and other institutional investors own 85.20% of the company’s stock.

Insider Buying and Selling

In other news, CEO Calvin Mcdonald bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares of the company’s stock, valued at approximately $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $269.59, for a total value of $131,020.74. Following the sale, 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 disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Lululemon Athletica Trading Up 0.2 %

NASDAQ:LULU opened at $319.52 on Thursday. The company has a market capitalization of $39.23 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.38 and a beta of 1.24. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The business’s 50-day moving average is $295.06 and its 200 day moving average is $287.84.

Lululemon Athletica (NASDAQ:LULU) last posted its earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.41 billion. Lululemon Athletica had a return on equity of 42.59% and a net margin of 16.34%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 earnings per share. On average, research analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LULU. Stifel Nicolaus decreased their price target on Lululemon Athletica from $416.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, August 22nd. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Lululemon Athletica in a report on Monday, August 26th. Raymond James cut their price objective on Lululemon Athletica from $350.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, September 2nd. UBS Group cut their price objective on Lululemon Athletica from $385.00 to $315.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Finally, Truist Financial lifted their price objective on Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lululemon Athletica has an average rating of “Moderate Buy” and a consensus price target of $356.03.

About Lululemon Athletica

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.